Stora Enso Oyj Financial Statement Release 2021 – QNT Press Release

[ad_1]

HELSINKI, Jan. 28, 2022 /PRNewswire/ —

Record high quarter driven by strong demand and strategic progress
Dividend proposal EUR 0.55 per share

Q4/2021 (year-on-year)

• Sales increased by 26.3% to EUR 2,719 (2,154) million.
• Operational EBIT increased to EUR 426 (118) million.
• Operational EBIT margin increased to 15.7% (5.5%).
• Operating profit (IFRS) increased to EUR 839 (289) million including the positive impact from the valuation of biological assets.
• EPS was EUR 0.78 (0.30) and EPS excl. fair valuations (FV) was EUR 0.32 (0.09).
• Strong cash flow from operations amounted to EUR 619 (436) million. Cash flow after investing activities was EUR 424 (223) million.
• The net debt to operational EBITDA ratio improved to 1.1 (2.3). The target is to keep the ratio below 2.0.
• Operational ROCE excluding the Forest division increased to 20.4% (4.7%), and was clearly above the long-term target of more than 13%.

Year 2021 (year-on-year)

• Sales were EUR 10,164 (8,553) million.
• Operational EBIT more than doubled to EUR 1,528 (650) million.

Key highlights

• To further expand its positioning for growth in sustainable packaging, Stora Enso invests EUR 23 million to increase capacity in containerboard at its Varkaus site in Finland. This initiative will increase the site’s capacity of 405,000 tonnes by approximately 10%.
• Stora Enso has, according to plan, ceased deliveries and production of dissolving pulp to focus on growth in other existing and new innovative pulp grades and products.
• Stora Enso will invest EUR 40 million to enhance operational and carbon footprint performance for fluff pulp production at the Skutskär site, as announced in January.
• The conversion to containerboard at the Oulu site has reached key milestones of the investment, in terms of profitability, quality and performance ahead of schedule. Therefore the ramp-up phase is considered finalised.

Dividend proposal

• The Board of Directors will propose a dividend at the AGM on 15 March 2022, of EUR 0.55 (EUR 0.30) per share.

Outlook

• Global megatrends such as an increased eco awareness, an accelerated focus on combatting climate change, and digitalisation underpin Stora Enso’s business strategy and the demand for its renewable and eco-friendly products, both short and long term.
• The general macroeconomic environment and the pandemic are persisting uncertainties. However, the market demand for Stora Enso’s products across all divisions is supporting sustained commercial momentum. Measures such as pricing, flexibility in sourcing and logistics, as well as hedging are in place to manage volatility .

Guidance

• Stora Enso’s full year 2022 operational EBIT is estimated to be approximately in line with the full year operational EBIT for 2021 (EUR 1,528 million).

Key figures

Full story available on Benzinga.com

[ad_2]

Source link