Stora Enso has completed the divestment of Kabel Mill

STORA ENSO OYJ STOCK EXCHANGE RELEASE 1 September 2016 at 15.00 EEST

Stora Enso has completed the divestment announced on 1 June 2016 of its Kabel coated mechanical paper mill in Germany, to Kabel Premium Pulp & Paper GmbH, owned by a German based investor group.

The total cash consideration for the divestment is approximately EUR 25 million, subject to final closing adjustments.

The loss on disposal amounts in total to EUR 15 million. The effect on operating profit is approximately EUR 5 million, and the negative tax impact is approximately EUR 10 million. These were recorded as an item affecting comparability (IAC) in Stora Enso’s second quarter 2016 results. Approximately EUR 17 million of pension liabilities were transferred to the new owner with the transaction.

Based on 2015 annual figures, the transaction decreases Stora Enso’s annual sales by approximately EUR 300 million and simultaneously decreases Stora Enso’s annual coated mechanical paper production capacity by around 485 000 tonnes. The Kabel Mill employs approximately 540 people and was part of Stora Enso’s Paper division.

For further information, please contact:
Ulrika Lilja, EVP Communications, tel. +46 72 221 9228
Liisa Nyyssönen, SVP Communications Paper Division, tel. +358 40 544 3491

Investor enquiries:
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 40 763 8767

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 26 000 people in more than 35 countries, and our sales in 2015 were EUR 10.0 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market. storaenso.com 

STORA ENSO OYJ

For further information, please contact:
Ulrika Lilja
EVP Communications
tel. +46 72 221 9228

Liisa Nyyssönen
SVP Communications Paper Division
tel. +358 40 544 3491

Investor enquiries:
Ulla Paajanen-Sainio
SVP, Investor Relations
tel. +358 40 763 8767