Bloomberg:STEA@SS

Stora Enso partners with IUCN to advance positive impacts on biodiversity

Retrieved on: 
Tuesday, February 13, 2024
STE, Forecasting, Nordic, Biodiversity, Climate change, EUR, Science, OTCQX, IUCN, Partnership

HELSINKI, Feb. 13, 2024 /PRNewswire/ -- Stora Enso has, as a forest industry forerunner, developed a science-based framework to verify net positive impact on biodiversity. Through combining science, technology and data, the framework enables forecasting of biodiversity impact, which allows operations to be adapted towards a net positive goal. The partnership with the International Union for Conservation of Nature (IUCN) will provide external expert insights for further development and validation of the framework. Stora Enso's sustainability strategy focuses on climate change, biodiversity, and circularity, and the Company's biodiversity goal is to have a net positive impact within its own forests and plantations through active management. IUCN is the leading non-profit nature conservation organisation globally, supporting companies with nature-positive tools and practices to reverse biodiversity loss. Stora Enso's partnership with IUCN focuses on developing a framework to measure and disclose net positive biodiversity impact."The world is facing a great sense of urgency to halt biodiversity loss and the forest sector has a central role in making this happen. True to our sustainability leadership ambition, we want to accelerate the pace of change through global collaboration and shared goals. Our new partnership with IUCN is an opportunity to implement new ways of working that will help guide our commitment towards a net positive biodiversity impact," says Hans Sohlström, President and CEO, Stora Enso."IUCN's collaboration with Stora Enso aims to help the forestry sector as a whole more actively manage biodiversity – reducing threats to species, and conserving and restoring ecosystems. This partnership will bring valuable insights that can help shape our evolving approach to measuring 'nature positive', providing a credible framework to help companies track and monitor their contributions. Together, we look forward to inspiring change throughout the forestry sector and thus deliver concrete outcomes for biodiversity," says Dr Grethel Aguilar, Director General, IUCN.Stora Enso will pilot the framework in its own forests in Sweden to develop the framework further and align it with other leading organisations going forward. The complete framework is expected to be launched during autumn 2025. Stora Enso's own forest assets include 1.4 million hectares of land in Sweden, joint-venture plantations in South America, and 41% ownership of Tornator that has forest assets mainly in Finland. In addition to in-house wood supply, Stora Enso sources wood from private forest owners in the Nordics and central Europe. For further information, please contact: Carl Norell SVP Corporate CommunicationsTel. +46 72 241 0349Investor enquiries: Anna-Lena Åström SVP Investor Relations Tel. +46 70 210 7691

Key Points: 
  • HELSINKI, Feb. 13, 2024 /PRNewswire/ -- Stora Enso has, as a forest industry forerunner, developed a science-based framework to verify net positive impact on biodiversity.
  • Stora Enso's sustainability strategy focuses on climate change, biodiversity, and circularity, and the Company's biodiversity goal is to have a net positive impact within its own forests and plantations through active management.
  • IUCN is the leading non-profit nature conservation organisation globally, supporting companies with nature-positive tools and practices to reverse biodiversity loss.
  • Stora Enso's partnership with IUCN focuses on developing a framework to measure and disclose net positive biodiversity impact.

Stora Enso publishes its Annual Report 2023

Retrieved on: 
Tuesday, February 13, 2024
STE, The Annual Report, XHTML, Annual report, Financial statement, Part, Climate change, Global warming potential, PDF, EUR, Forest management, OTCQX, ISAE, Container, Bank statement, XBRL, Audit

HELSINKI, Feb. 13, 2024 /PRNewswire/ -- Stora Enso's Annual Report 2023 is published today at storaenso.com/annualreport. The report includes a strategy review, sustainability reporting, corporate governance, remuneration report and financial report.

Key Points: 
  • HELSINKI, Feb. 13, 2024 /PRNewswire/ -- Stora Enso's Annual Report 2023 is published today at storaenso.com/annualreport .
  • The report includes a strategy review, sustainability reporting, corporate governance, remuneration report and financial report.
  • Stora Enso publishes its annual financial statements in accordance with the European Single Electronic Format (ESEF) reporting requirements.
  • Stora Enso has approximately 20,000 employees and Group sales in 2023 of EUR 9.4 billion.

Stora Enso publishes its Annual Report 2023

Retrieved on: 
Tuesday, February 13, 2024
STE, The Annual Report, XHTML, Annual report, Financial statement, Part, Climate change, Global warming potential, PDF, EUR, Forest management, OTCQX, ISAE, Container, Bank statement, XBRL, Audit

HELSINKI, Feb. 13, 2024 /PRNewswire/ -- Stora Enso's Annual Report 2023 is published today at storaenso.com/annualreport. The report includes a strategy review, sustainability reporting, corporate governance, remuneration report and financial report.

Key Points: 
  • HELSINKI, Feb. 13, 2024 /PRNewswire/ -- Stora Enso's Annual Report 2023 is published today at storaenso.com/annualreport .
  • The report includes a strategy review, sustainability reporting, corporate governance, remuneration report and financial report.
  • Stora Enso publishes its annual financial statements in accordance with the European Single Electronic Format (ESEF) reporting requirements.
  • Stora Enso has approximately 20,000 employees and Group sales in 2023 of EUR 9.4 billion.

Notice to the Annual General Meeting of Stora Enso Oyj

Retrieved on: 
Thursday, February 1, 2024
Euroclear, Senior, C.3, Exercise, Section, Remuneration, Name, EUR, Economics, Finance, OP Financial Group, Chapter Five, Post office box, Shareholder, Address, APA, Annual general meeting, ADR, STE, Business, OTCQX, Legal Department (Hong Kong), Audit, Proxy, AGM, Audit committee, Master, Citibank, Security (finance)

HELSINKI, Feb. 1, 2024 /PRNewswire/ -- The Board of Directors of Stora Enso Oyj has decided to convene the Annual General Meeting to be held on Wednesday 20 March 2024. Notice to the Annual General Meeting  Notice is given to the shareholders of Stora Enso Oyj ("Stora Enso" or the "Company") to the Annual General Meeting (the "AGM") to be held on Wednesday 20 March 2024 at 4:00 p.m. Finnish time at Marina Congress Center, Katajanokanlaituri 6, FI-00160, Helsinki, Finland. The reception of persons who have registered for the meeting and the distribution of voting tickets will commence at 2:15 p.m. Finnish time at the meeting venue.   Shareholders can also exercise their voting rights by voting in advance. Instructions for advance voting are presented in this notice under section C. Instructions for the participants in the AGM.  The AGM will be conducted in the Finnish language. Simultaneous translation will be available in the meeting room into the English and, when relevant, Finnish languages.Before the AGM, at 2:45 – 3:30 p.m. Finnish time, Stora Enso's President and CEO Hans Sohlström and CFO Seppo Parvi will be available in Marina Congress Center to discuss with the shareholders. The event is not part of the AGM and will be held in Finnish with simultaneous translation into English. In connection with the event, participants can present questions to the Company's management, but the event will not be a forum for decision-making. Questions presented at the event are thus not questions referred to in Chapter 5, Section 25 of the Finnish Companies Act.

Key Points: 
  • PricewaterhouseCoopers Oy would also act as the sustainability reporting assurance provider of the Company until the end of the Company's next Annual General Meeting.
  • The personal data provided to Stora Enso Oyj will be used only in connection with the AGM and with the processing of related registrations.
  • Request temporary registration in the shareholders' register of Stora Enso Oyj maintained by Euroclear Finland Oy.
  • Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R).

Notice to the Annual General Meeting of Stora Enso Oyj

Retrieved on: 
Thursday, February 1, 2024
Euroclear, Senior, C.3, Exercise, Section, Remuneration, Name, EUR, Economics, Finance, OP Financial Group, Chapter Five, Post office box, Shareholder, Address, APA, Annual general meeting, ADR, STE, Business, OTCQX, Legal Department (Hong Kong), Audit, Proxy, AGM, Audit committee, Master, Citibank, Security (finance)

HELSINKI, Feb. 1, 2024 /PRNewswire/ -- The Board of Directors of Stora Enso Oyj has decided to convene the Annual General Meeting to be held on Wednesday 20 March 2024. Notice to the Annual General Meeting  Notice is given to the shareholders of Stora Enso Oyj ("Stora Enso" or the "Company") to the Annual General Meeting (the "AGM") to be held on Wednesday 20 March 2024 at 4:00 p.m. Finnish time at Marina Congress Center, Katajanokanlaituri 6, FI-00160, Helsinki, Finland. The reception of persons who have registered for the meeting and the distribution of voting tickets will commence at 2:15 p.m. Finnish time at the meeting venue.   Shareholders can also exercise their voting rights by voting in advance. Instructions for advance voting are presented in this notice under section C. Instructions for the participants in the AGM.  The AGM will be conducted in the Finnish language. Simultaneous translation will be available in the meeting room into the English and, when relevant, Finnish languages.Before the AGM, at 2:45 – 3:30 p.m. Finnish time, Stora Enso's President and CEO Hans Sohlström and CFO Seppo Parvi will be available in Marina Congress Center to discuss with the shareholders. The event is not part of the AGM and will be held in Finnish with simultaneous translation into English. In connection with the event, participants can present questions to the Company's management, but the event will not be a forum for decision-making. Questions presented at the event are thus not questions referred to in Chapter 5, Section 25 of the Finnish Companies Act.

Key Points: 
  • PricewaterhouseCoopers Oy would also act as the sustainability reporting assurance provider of the Company until the end of the Company's next Annual General Meeting.
  • The personal data provided to Stora Enso Oyj will be used only in connection with the AGM and with the processing of related registrations.
  • Request temporary registration in the shareholders' register of Stora Enso Oyj maintained by Euroclear Finland Oy.
  • Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R).

Stora Enso Oyj Financial Statement Release 2023: Focus on profit improvement, competitiveness, and cash flow

Retrieved on: 
Thursday, February 1, 2024
EPS, Annual, Pressure, FV, Carbon, Wood, Steiner's Taxonomy of Tasks, Risk, Acquisition, AGM, Sale, Construction, EUR, Lithium

Stora Enso finalised the restructuring actions to improve long-term competitiveness and profitability announced in June 2023.

Key Points: 
  • Stora Enso finalised the restructuring actions to improve long-term competitiveness and profitability announced in June 2023.
  • Stora Enso has initiated a new profit improvement programme targeting annualised EUR 80 million improvement of the operational EBIT.
  • During the second half of 2023, Stora Enso implemented significant restructuring measures to enhance its financial performance going forward.
  • Building on last year's cost-saving initiative, Stora Enso will further pursue profit turnaround and cash flow improvements to reduce costs and improve competitiveness.

Stora Enso Oyj Financial Statement Release 2023: Focus on profit improvement, competitiveness, and cash flow

Retrieved on: 
Thursday, February 1, 2024
EPS, Annual, Pressure, FV, Carbon, Wood, Steiner's Taxonomy of Tasks, Risk, Acquisition, AGM, Sale, Construction, EUR, Lithium

Stora Enso finalised the restructuring actions to improve long-term competitiveness and profitability announced in June 2023.

Key Points: 
  • Stora Enso finalised the restructuring actions to improve long-term competitiveness and profitability announced in June 2023.
  • Stora Enso has initiated a new profit improvement programme targeting annualised EUR 80 million improvement of the operational EBIT.
  • During the second half of 2023, Stora Enso implemented significant restructuring measures to enhance its financial performance going forward.
  • Building on last year's cost-saving initiative, Stora Enso will further pursue profit turnaround and cash flow improvements to reduce costs and improve competitiveness.

Stora Enso plans a programme to improve long-term profitability and competitiveness

Retrieved on: 
Thursday, February 1, 2024
EUR, STE, Management

HELSINKI, Feb. 1, 2024 /PRNewswire/ -- Due to the continued weak and uncertain market environment, Stora Enso plans to initiate a new profit improvement programme targeting annualised EUR 80 million improvement of the operational EBIT. This could lead to a potential reduction of approximately 1,000 employees. Local change negotiations in line with the local legislations will start as soon as country specific plans are further detailed.The profit improvement programme is designed to improve Stora Enso's long-term competitiveness by focusing on core business activities that can drive the Group's strategy supported by a decentralised operating model. The profit improvement programme would be implemented without any new production site closures.The majority of the savings would materialise during 2025, and the larger part of the employee reductions are planned to take place during the first half of 2024. The employee reductions, efficiency improvements and synergy opportunities would impact all divisions and Group functions and reflect the size of their respective organisations. "Although difficult, this plan is necessary to ensure our long-term success and competitiveness. Last year, we completed a restructuring programme which led to the identification of synergy opportunities, which we plan to address with our new profit improvement initiative. We are facing persistent weakness in the macroeconomic and geopolitical environment and need to focus on core business activities which align with our strategy. Through this programme we would strengthen our focus on profitability making us more competitive and resilient to market uncertainties," says Hans Sohlström, Stora Enso's President and CEO.No decisions regarding the planned employee reductions will be taken until the change negotiations have been concluded according to local regulations. At the end of last year Stora Enso completed a restructuring programme which was initiated in June 2023. The programme resulted in an annual operational EBIT improvement of EUR 110 million and 1,150 employee reductions.For further information, please contact: Carl Norell SVP Corporate Communications tel. +46 72 241 0349  Investor enquiries: Anna-Lena Åström SVP Investor Relations tel. +46 70 210 7691  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 believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 21,000 employees and our sales in 2022 were EUR 11.7 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 the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors   STORA ENSO OYJ

Key Points: 
  • Local change negotiations in line with the local legislations will start as soon as country specific plans are further detailed.
  • The profit improvement programme is designed to improve Stora Enso's long-term competitiveness by focusing on core business activities that can drive the Group's strategy supported by a decentralised operating model.
  • Through this programme we would strengthen our focus on profitability making us more competitive and resilient to market uncertainties," says Hans Sohlström, Stora Enso's President and CEO.
  • Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R).

Stora Enso plans a programme to improve long-term profitability and competitiveness

Retrieved on: 
Thursday, February 1, 2024
EUR, STE, Management

HELSINKI, Feb. 1, 2024 /PRNewswire/ -- Due to the continued weak and uncertain market environment, Stora Enso plans to initiate a new profit improvement programme targeting annualised EUR 80 million improvement of the operational EBIT. This could lead to a potential reduction of approximately 1,000 employees. Local change negotiations in line with the local legislations will start as soon as country specific plans are further detailed.The profit improvement programme is designed to improve Stora Enso's long-term competitiveness by focusing on core business activities that can drive the Group's strategy supported by a decentralised operating model. The profit improvement programme would be implemented without any new production site closures.The majority of the savings would materialise during 2025, and the larger part of the employee reductions are planned to take place during the first half of 2024. The employee reductions, efficiency improvements and synergy opportunities would impact all divisions and Group functions and reflect the size of their respective organisations. "Although difficult, this plan is necessary to ensure our long-term success and competitiveness. Last year, we completed a restructuring programme which led to the identification of synergy opportunities, which we plan to address with our new profit improvement initiative. We are facing persistent weakness in the macroeconomic and geopolitical environment and need to focus on core business activities which align with our strategy. Through this programme we would strengthen our focus on profitability making us more competitive and resilient to market uncertainties," says Hans Sohlström, Stora Enso's President and CEO.No decisions regarding the planned employee reductions will be taken until the change negotiations have been concluded according to local regulations. At the end of last year Stora Enso completed a restructuring programme which was initiated in June 2023. The programme resulted in an annual operational EBIT improvement of EUR 110 million and 1,150 employee reductions.For further information, please contact: Carl Norell SVP Corporate Communications tel. +46 72 241 0349  Investor enquiries: Anna-Lena Åström SVP Investor Relations tel. +46 70 210 7691  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 believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 21,000 employees and our sales in 2022 were EUR 11.7 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 the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors   STORA ENSO OYJ

Key Points: 
  • Local change negotiations in line with the local legislations will start as soon as country specific plans are further detailed.
  • The profit improvement programme is designed to improve Stora Enso's long-term competitiveness by focusing on core business activities that can drive the Group's strategy supported by a decentralised operating model.
  • Through this programme we would strengthen our focus on profitability making us more competitive and resilient to market uncertainties," says Hans Sohlström, Stora Enso's President and CEO.
  • Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R).

Stora Enso resolved on two new long-term incentive plans for key employees

Retrieved on: 
Thursday, February 1, 2024
EPS, Social Security, Tax, Reward, CO2, Employment, EUR, STE, Remuneration, TSR, Management

HELSINKI, Feb. 1, 2024 /PRNewswire/ -- The Board of Directors of Stora Enso Oyj has resolved to establish two new share-based incentive plans for the key employees of the Group and its subsidiaries.

Key Points: 
  • HELSINKI, Feb. 1, 2024 /PRNewswire/ -- The Board of Directors of Stora Enso Oyj has resolved to establish two new share-based incentive plans for the key employees of the Group and its subsidiaries.
  • Stora Enso's goal is to offer remuneration that motivates, encourages, attracts, and retains top-tier employees.
  • The purpose of the plans is to align the key employees' interests with those of the shareholders to increase the Company's value in the long term, as well as to retain the key employees and offer them competitive share-based incentive schemes.
  • In the plan, the target group has an opportunity to be rewarded Stora Enso Oyj shares based on performance.