Essity divests Russian operations

The hygiene and health company Essity divests its operations in Russia. Essity has signed an agreement with a buyer and the transaction has now been approved by the Russian authorities. The transaction is expected to be finalized during the second quarter of 2023.

Essity began work in April 2022 to exit the Russian market and in 2022 an impairment was carried out of the company’s assets in Russia of approximately SEK 1.7bn.

In 2022, Essity’s net sales in Russia amounted to approximately 2% of the Group’s total net sales. 
The total earnings impact will be reported when the transaction is finalized but is not expected to have a material financial impact.

For further information, please contact:
Per Lorentz, Vice President Corporate Communications, +46 733 13 30 55, per.lorentz@essity.com
Karl Stoltz, Media Relations Director, +46 709 - 426 338, karl.stoltz@essity.com

Essity is a leading global hygiene and health company. We are dedicated to improving well-being through our products and services. Sales are conducted in approximately 150 countries under the leading global brands TENA and Tork, and other strong brands, such as Actimove, JOBST, Knix, Leukoplast, Libero, Libresse, Lotus, Modibodi, Nosotras, Saba, Tempo, TOM Organic, Vinda and Zewa. Essity has about 48,000 employees. Net sales in 2022 amounted to approximately SEK 156bn (EUR 15bn). The company’s headquarters is located in Stockholm, Sweden, and Essity is listed on Nasdaq Stockholm. Essity breaks barriers to well-being and contributes to a healthy, sustainable and circular society. More information at www.essity.com.