Bloomberg:STEA@SS

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.

Invitation to Stora Enso's Q4 2023 results webcast on 1 February 2024

Retrieved on: 
Thursday, January 18, 2024
Teleconference, EET, Interim, Stora Enso

The results will be presented by President and CEO Hans Sohlström and CFO Seppo Parvi.

Key Points: 
  • The results will be presented by President and CEO Hans Sohlström and CFO Seppo Parvi.
  • The presentation can be followed live via the link: https://stora-ensos-q4-fy-2023-results.open-exchange.net/ The webcast link will also be available on Stora Enso's website: storaenso.com/investors .
  • During the webcast presentation, analysts and investors will also have the possibility to ask questions.
  • To participate in the teleconference, please choose the "Teleconference" option on the homepage of the webcast.

Proposals of the Shareholders' Nomination Board to Stora Enso Oyj's Annual General Meeting 2024

Retrieved on: 
Wednesday, January 10, 2024
Senior, OP Financial Group, Annual general meeting, Master, Mass meeting, Economics, Chair, AGM, Shareholder, Remuneration

HELSINKI, Jan. 10, 2024 /PRNewswire/ -- The Shareholders' Nomination Board, established by Stora Enso's Annual General Meeting (AGM), will propose to the AGM to be held on 20 March 2024 that the Company's Board of Directors shall have eight (8) members.

Key Points: 
  • HELSINKI, Jan. 10, 2024 /PRNewswire/ -- The Shareholders' Nomination Board, established by Stora Enso's Annual General Meeting (AGM), will propose to the AGM to be held on 20 March 2024 that the Company's Board of Directors shall have eight (8) members.
  • The Shareholders' Nomination Board proposes that Kari Jordan be elected Chair and Håkan Buskhe be elected Vice Chair of the Board of Directors.
  • This recommendation is based on the fact that at Stora Enso, in line with a good Nordic governance model, the Shareholders' Nomination Board is separate from the Board of Directors.
  • The Shareholders' Nomination Board proposes to the AGM that the annual remuneration for the Chair, Vice Chair and members of the Board of Directors be increased by 3% and be paid as follows:

Proposals of the Shareholders' Nomination Board to Stora Enso Oyj's Annual General Meeting 2024

Retrieved on: 
Wednesday, January 10, 2024
Senior, OP Financial Group, Annual general meeting, Master, Mass meeting, Economics, Chair, AGM, Shareholder, Remuneration

HELSINKI, Jan. 10, 2024 /PRNewswire/ -- The Shareholders' Nomination Board, established by Stora Enso's Annual General Meeting (AGM), will propose to the AGM to be held on 20 March 2024 that the Company's Board of Directors shall have eight (8) members.

Key Points: 
  • HELSINKI, Jan. 10, 2024 /PRNewswire/ -- The Shareholders' Nomination Board, established by Stora Enso's Annual General Meeting (AGM), will propose to the AGM to be held on 20 March 2024 that the Company's Board of Directors shall have eight (8) members.
  • The Shareholders' Nomination Board proposes that Kari Jordan be elected Chair and Håkan Buskhe be elected Vice Chair of the Board of Directors.
  • This recommendation is based on the fact that at Stora Enso, in line with a good Nordic governance model, the Shareholders' Nomination Board is separate from the Board of Directors.
  • The Shareholders' Nomination Board proposes to the AGM that the annual remuneration for the Chair, Vice Chair and members of the Board of Directors be increased by 3% and be paid as follows:

Stora Enso commits to net-zero carbon emissions

Retrieved on: 
Tuesday, December 12, 2023
Carbon, STE, Science, Climate, Part, EUR, Renewable energy, Signature, Neutralisation of Rabaul, Sarly Adre Sarkum, Carbon accounting, Stora Enso, Climate Pledge Fund, Steiner's Taxonomy of Tasks

HELSINKI, Dec. 12, 2023 /PRNewswire/ -- Stora Enso commits to reach net-zero carbon emissions by 2040 by becoming a signatory of The Climate Pledge.

Key Points: 
  • HELSINKI, Dec. 12, 2023 /PRNewswire/ -- Stora Enso commits to reach net-zero carbon emissions by 2040 by becoming a signatory of The Climate Pledge.
  • Committing to net-zero emissions by signing The Climate Pledge is a logical step for Stora Enso in its long-term ambition to become net carbon positive, and to offer 100% regenerative products and solutions by 2050.
  • Stora Enso remains committed to deliver on its existing 2030 target to reduce absolute Scope 1, 2 and 3 emissions by 50% from the 2019 baseline.
  • Neutralise any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets to achieve net-zero annual carbon emissions by 2040.

Stora Enso's fourth quarter 2023 impairment test results

Retrieved on: 
Tuesday, December 12, 2023
Biomaterial, STE, Depreciation, EUR, ADR (treaty), Nordic

HELSINKI, Dec. 12, 2023 /PRNewswire/ -- Stora Enso will record non-cash impairments of approximately EUR 514 million in its IFRS operating result in the fourth quarter of 2023. The impairments will be reported as an item affecting comparability (IAC). Including the estimated positive tax effect of EUR 65 million, the net result impact will be approximately EUR 449 million negative.

Key Points: 
  • The impairments are mainly a consequence of Stora Enso's predictions of a weaker outlook compared to previous estimates.
  • As a result of the impairment booking, the annual depreciation will decrease by approximately EUR 40 million going forward.
  • The impairments do not impact Stora Enso's full-year 2023 guidance.
  • Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R).

Stora Enso Oyj's share-based long-term incentive plan for the President and CEO

Retrieved on: 
Wednesday, October 25, 2023
Policy, Tax, Remuneration, Employment, EUR, Annual report, Management, Stora Enso

HELSINKI, Oct. 25, 2023 /PRNewswire/ -- The Board of Directors of Stora Enso has decided on a CEO Performance Share Plan for 2023–2025 under the Company's share-based long-term incentive programme. This plan aims to support the long-term shareholder value creation and considers the change in leadership. Due to the CEO change on 18 September 2023, there are deviations from Stora Enso's Remuneration Policy 2022.  The long-term incentive plan consists of performance shares (Performance Share Plan) with a two-year vesting period. The long-term incentive plan includes targets related to balance sheet, capital expenditure, strategy and sustainability. The potential payout is based on the Company's performance in relation to the targets over the two-year plan period. Share reward will be paid in Stora Enso R shares. The maximum value of the plan is set at EUR 2 million at grant, which corresponds to approximately 169,420 shares at the share price on 18 September 2023.  No new shares will be issued in connection with the execution of the plan, and there is no dilutive effect on the number of Stora Enso's registered shares. Besides attainment of the performance criteria, the share reward is subject to continuation of employment. The share rewards earned within the CEO Performance Share Plan for 2023–2025 will be delivered in the fourth quarter of 2025. Applicable taxes will be deducted before shares are delivered.Further details about the CEO remuneration and deviation from the policy will be published in Stora Enso's Remuneration Report 2023 which will be part of the Annual Report.

Key Points: 
  • HELSINKI, Oct. 25, 2023 /PRNewswire/ -- The Board of Directors of Stora Enso has decided on a CEO Performance Share Plan for 2023–2025 under the Company's share-based long-term incentive programme.
  • Due to the CEO change on 18 September 2023, there are deviations from Stora Enso's Remuneration Policy 2022.
  • The long-term incentive plan consists of performance shares (Performance Share Plan) with a two-year vesting period.
  • The share rewards earned within the CEO Performance Share Plan for 2023–2025 will be delivered in the fourth quarter of 2025.

Change in Stora Enso's Disclosure Policy

Retrieved on: 
Tuesday, October 24, 2023
Policy, ADR, EUR, STE, Disclosure, Cryptocurrency

HELSINKI, Oct. 24, 2023 /PRNewswire/ -- Stora Enso will make a change in its reporting languages as of 1 January 2024.

Key Points: 
  • HELSINKI, Oct. 24, 2023 /PRNewswire/ -- Stora Enso will make a change in its reporting languages as of 1 January 2024.
  • Stora Enso will not publish financial reports or other regulatory content in Swedish.
  • With this change, Stora Enso aims to ensure efficiency of its financial reporting and publication of releases.
  • Stora Enso's updated Disclosure Policy is available at storaenso.com/investors.

Stora Enso Oyj Interim Report January-September 2023: Focusing on actions for a profitability turnaround and capital release

Retrieved on: 
Tuesday, October 24, 2023
Pressure, Stora Enso, Acquisition, EEST, CEST, Growth, Commercial, Webcast, Interim, EUR, Turnaround ADR, STE, Management, Cryptocurrency

Stora Enso's President and CEO Hans Sohlström comments on the third quarter 2023 results:

Key Points: 
  • Stora Enso's President and CEO Hans Sohlström comments on the third quarter 2023 results:
    "In my role as the newly appointed CEO of Stora Enso, my focus lies on the Company's profitability turnaround and shareholder value generation.
  • To demonstrate my personal commitment, and confidence, I invested 1 million euro in Stora Enso shares in my first week as the CEO."
  • "In line with the previous quarter's prediction, Stora Enso had an unsatisfactory financial performance in the third quarter.
  • Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R).

Stora Enso Oyj Interim Report January-September 2023: Focusing on actions for a profitability turnaround and capital release

Retrieved on: 
Tuesday, October 24, 2023
Pressure, Stora Enso, Acquisition, EEST, CEST, Growth, Commercial, Webcast, Interim, EUR, Turnaround ADR, STE, Management, Cryptocurrency

Stora Enso's President and CEO Hans Sohlström comments on the third quarter 2023 results:

Key Points: 
  • Stora Enso's President and CEO Hans Sohlström comments on the third quarter 2023 results:
    "In my role as the newly appointed CEO of Stora Enso, my focus lies on the Company's profitability turnaround and shareholder value generation.
  • To demonstrate my personal commitment, and confidence, I invested 1 million euro in Stora Enso shares in my first week as the CEO."
  • "In line with the previous quarter's prediction, Stora Enso had an unsatisfactory financial performance in the third quarter.
  • Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R).