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Stora Enso comments on postponement of payments to suppliers

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STORA ENSO OYJ PRESS RELEASE 16 October 2024 at 14:15 EEST

As announced on 14 October, Stora Enso has postponed payments to some suppliers by one week in the last weeks of June and September this year. These were extraordinary actions with the objective to optimise cash flow. A decision has been made to not postpone quarter end payments to suppliers going forward. Postponed invoice payments have been made.

“We value our suppliers, which are central to our operations and our success, and regret any possible impact or inconvenience that these extraordinary actions may have had on them and their business. Our values are to lead and do what’s and right and we are committed to foster a culture of openness and integrity, in everything we do,” said Hans Sohlström, President and CEO at Stora Enso.

The cash flow effect of the one-week end of the quarters postponed payments has been on average EUR 70 million, which represents approximately 4 % of the accounts payable. This is not material in relation to Stora Enso’s total cash flow and liquidity. Stora Enso will publish its Q3 interim report for 2024 on 24 October.

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We create value with our low-carbon and recyclable fiber-based products, through which we support our customers in meeting the demand for renewable sustainable products. Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors 

STORA ENSO OYJ

Media enquiries:
Carl Norell
SVP Corporate Communications
tel. +46 72 241 0349

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691

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