Stora Enso reports increased sales in Q1 2022

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Stora Enso/Fordaq
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Stora Enso reported a pleasing first quarter of the year. The company’s sales increased by 23% to EUR 2,798 million while the operational EBIT increased by 53% to EUR 503 million. On top of the sales process initiated to divest four out of five paper production sites there is also a feasibility study run for the conversion of an idle paper machine at the Oulu site, Finland to explore expansion in renewable packaging board with an additional capacity of 750,000 tonnes.

Meanwhile all import and export activities from and to Russia are halted, wood supply in Russia has stopped. Mitigation and re-routing are in place to manage supply and risk. In April, Stora Enso announced that it is divesting its two sawmills in Russia. Sales in Russia represented approx. 3% of total Group revenues (2021).

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