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Stora Enso Oyj
Stora Enso Oyj
10/23/2012 | Press release
Stora Enso Interim Review January–September 2012
distributed by noodls on 10/23/2012 07:05
Stable performance in weak Europe, preparing for the future
Helsinki, Finland, 2012-10-23 12:00 CEST (GLOBE NEWSWIRE) --
STORA ENSO OYJ INTERIM REVIEW 23 October 2012 at 13.00
EET
- Operational EBIT EUR 34 million higher than in Q2 2012 at EUR 175 (EUR 141) million mainly due to lower costs, EUR 50 million lower year-on-year.
- Cash flow from operations EUR 312 (EUR 362) million and liquidity EUR 1 700 (EUR 1 181) million.
- Ratio of net debt to the last twelve months' operational EBITDA 2.8 (2.7 in Q2 2012).
- New packaging joint-venture to be established in Pakistan.
- New profitability improvement actions planned across all Business Areas, estimated annual cost savings EUR 36 million and 520 employees affected.
- Q4 2012 sales expected to be at roughly similar level and operational EBIT in line with or slightly lower than Q3 2012.
Summary of Third Quarter Results
| Q3/12 | Q2/12 | Q3/11 | ||
| Sales | EUR million | 2 694.1 | 2 720.4 | 2 739.3 |
| Operational EBITDA | EUR million | 299.6 | 248.1 | 339.2 |
| Operational EBIT* | EUR million | 174.7 | 141.2 | 224.4 |
| Operating profit (IFRS) | EUR million | 161.3 | 152.7 | 178.6 |
| Profit before tax excl. NRI | EUR million | 102.2 | 31.8 | 113.4 |
| Profit/loss before tax | EUR million | 102.2 | 85.9 | -14.8 |
| Net profit excl. NRI | EUR million | 81.3 | 13.5 | 78.3 |
| Net profit/loss | EUR million | 81.3 | 69.5 | -49.9 |
| EPS excl. NRI | EUR | 0.10 | 0.02 | 0.10 |
| EPS | EUR | 0.10 | 0.09 | -0.06 |
| CEPS excl. NRI | EUR | 0.29 | 0.20 | 0.27 |
| Operational ROCE | % | 8.0 | 6.5 | 10.3 |
*The Group has adopted operational EBIT as a key operative non-IFRS measure starting from the fourth quarter of 2011.
Operational EBIT comprises the operating profit excluding NRI and fair valuations of the segments and Stora Enso's share of the operating profit excluding NRI and fair valuations of its equity accounted investments (EAI). Fair valuations include equity incentive schemes, synthetic options net of realised and open hedges, CO2 emission rights and valuations of biological assets related to forest assets in EAI.
Near-term Outlook
In the fourth quarter of 2012 Group sales are expected
to be at roughly similar level and the operational EBIT in
line with or slightly lower than the third quarter of
2012. Mill maintenance will have a negative impact on
Renewable Packaging and Biomaterials during the
quarter.
For further information, please contact:
Jouko Karvinen, CEO, tel. +358 2046 21410
Karl-Henrik Sundström, CFO, tel. +46 1046 71660
Ulla Paajanen-Sainio, SVP, Investor Relations, tel.
+358 2046 21242
Sanna Lahti, SVP, Global Communications, tel. +358 2046
21251
Stora Enso's full year 2012 results will be published
on 5 February 2013.
PRESS CONFERENCE IN STOCKHOLM
| Time: | 13.00 local time today (14.00 EET) |
| Location: | World Trade Center Stockholm, plan 4, sektion D |
| Address: | Klarabergsviadukten 70/Kungsbron 1 |
| Presentations: |
Jouko Karvinen, CEO Karl-Henrik Sundström, CFO |
The conference will be held in English. Questions can
be addressed to Jouko Karvinen and Karl-Henrik Sundström
after the presentation.
ANALYST CONFERENCE CALL
CEO Jouko Karvinen, CFO Karl-Henrik Sundström and SVP
Investor Relations Ulla Paajanen-Sainiowill be
hosting a combined conference call and webcast today
at 16.00 Finnish time
(15.00 CET,
14.00 UK time, 09.00
US Eastern time).
If you wish to participate, please dial:
| Continental Europe and the UK | +44 (0) 20 7136 6283 |
| Finland | +358 (0) 9 6937 9543 |
| Sweden | +46 (0) 8 5352 6408 |
| USA | +1 212 444 0896 |
| Access code: | 8894140 |
