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STORA ENSO Higher Deliveries, Price Growth Ramp Up Q2 Revenue

STORA ENSO Higher Deliveries, Price Growth Ramp Up Q2 Revenue
  • STORA ENSO (OTC: SEOAYreported second-quarter sales growth of 22.6% year-over-year to €2.59 billion, reflecting higher deliveries and prices.
  • The company reported adjusted earnings per share of €0.27, compared to €0.13 for 2Q20.
  • The Operational EBITDA for the quarter increased by 56.7% Y/Y to €524 million. Operational EBIT margin increased to 14% from 8.4% a year ago.
  • Operating profit decreased by 19.5% Y/Y to €182 million, and margin fell by 370 bps to 7%.
  • The company generated cash from operations of €463 million compared to €363 million in 2Q20. 
  • The company’s net debt to operational EBITDA ratio was 1.8 compared to 2.5 a year ago.
  • Stora Enso plans to divest its Sachsen paper mill in Germany to Model Group. 
  • The company partnered with Tetra Pak to provide circular solutions to the market to significantly improve the recycling of beverage cartons in Central and Eastern Europe.
  • Outlook: The company expects operational EBIT in 2021 to be higher than operational EBIT in 2020. The total negative impact on operational EBIT is estimated to be €20–25 million for 2021.
  • Price action: SEOAY shares closed higher by 2.44% at $18.72 on Tuesday.

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