Stora Enso's non-recurring items in second quarter 2011
STORA ENSO OYJ STOCK EXCHANGE RELEASE 12 July 2011 at 9.00 EET
Stora Enso will record non-recurring items (NRI) with a negative impact of approximately EUR 32 million on operating profit in its second quarter 2011 results. All NRI will have a cash impact. The NRI will have a positive tax impact of EUR 4 million.
The NRI of EUR -16 million in the Fine Paper Business Area as announced on 3 May 2011 and a NRI of EUR -9 million in logistics relate to restructuring measures, and a NRI of EUR -7 million relates to payments, including interest, to former Kemijärvi Mill and Summa Mill employees following the decision by the Labour Court in Finland on 21 June 2011.
Allocation of NRI between segments
| Segment | Total |
| Consumer Board | EUR -2.2 million |
| Industrial Packaging | EUR -0.1 million |
| Newsprint | EUR -6.2 million |
| Magazine Paper | EUR -2.8 million |
| Fine Paper | EUR -20.4 million |
| Total | EUR -31.7 million |
The Group’s financial results for the second quarter of 2011 will be announced on 21 July 2011 at 13.00 EET.
For further information, please contact:
Markus Rauramo, CFO, tel. +358 2046 21121
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242
Lauri Peltola, Head of Communications and Global Responsibility, tel. +358 2046 21380
Stora Enso is the global rethinker of the packaging, paper and wood products industry. We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. Stora Enso employs some 26 000 people worldwide, and our sales in 2010 amounted to EUR 10.3 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.
STORA ENSO OYJ