Finland’s Stora Enso posted net income of 281 million euros in the first quarter of this year – up 97.2% compared to the same period in 2021. Sales increased by 23% to EUR 2,798 (2,276) million
Operational profit (Ebit) increased 53% year-on-year to 503 million euros. This was the highest Ebit in 20 years, with an all-time high margin of 18%, up from 14.4% in the first quarter of last year.
According to Stora Enso CEO Annica Bresky, the company delivered record profitability and maintained the growth momentum of last year in a turbulent period, in a quarter with geopolitical challenges, in addition to the lingering effects of the pandemic and adverse factors. of the supply chain. “We have seen strong demand for our products with high prices and solid volumes in all our segments and regions,” she said.
Paper deliveries dropped 27.9%, to 535 thousand tons, while pulp deliveries shrank 4.6%, to 611 thousand tons.
For 2022, the company forecasts operating profit similar to that of 2021 of 1.52 billion euros.