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    STERV   FI0009005961

STORA ENSO OYJ

(STERV)
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Real-time Estimate Tradegate  -  04:00:00 2023-02-06 pm EST
14.24 EUR   +0.59%
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Stora Enso Imatra Mills wood handling upgrade reaches completion, water consumption will decrease by 85 per cent

11/08/2022 | 08:30am EST

Stora Enso invested EUR 80 million to centralise and modernise wood handling at Imatra Mills to enhance its production capabilities for premium packaging board.

The investment will additionally reduce the consumption of process water and mitigate environmental impacts. The project, which started up in the first quarter of 2021, is now complete.

The modernisation of Imatra Mills' wood handling was completed on schedule. From now on, wood will be debarked and handled centrally on Kaukopaa Mill's new debarking line. The project included the installation of a third debarking line, improvements to chip handling systems, and modifications to the infrastructure of the existing wood yard. The centralised and modernised wood handling capacity will improve the stability and efficiency of the process.

The investment will significantly reduce the water consumption in the wood handling process. Water consumption will decrease by 85 per cent compared to the old debarking line, which translates to 500 million litres less water consumed per year. The noise level at the Tainionkoski Mill will also decrease, as wood handling there comes to an end.

The wood handling upgrade was carried out over two winters in challenging outdoor conditions. Special attention was paid to safe working practices, and this investment worksite marked the first time that a Stora Enso mill used the House building (TR) Audit, a method widely used in thein the construction industry to assess safety, tidy working environment and behaviour on worksites. The TR Audit provides an overview of the entire worksite, focusing on small areas at a time, and has been found to be a good predictor of accidents.

'Despite the challenges brought by the pandemic, construction progressed as usual, and the investment was completed on time and within budget. Most importantly, the work was completed safely. Co-operation between the various players was very smooth. The investment will serve Imatra Mills for decades to come,' states Mill Director Mikko Nieminen.

Close to 700 000 working hours were spent on the project. More than 500 companies, nearly 40 per cent of which from South Karelia, were involved in the project. During the construction phase of the investment, 700 steel pipe piles and 100 boring piles totalling roughly 18 kilometres were installed into the ground. Two new silos were built in the Kaukopaa Mill area for chip storage. The largest silo has a diameter of 38 metres and is 25 metres high.

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials, wooden construction and paper, 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 22,000 employees and our sales in 2021 were EUR 10.2 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.

Contact:

Tel: +358 2046 111

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 11 638 M 12 495 M 12 495 M
Net income 2022 1 290 M 1 385 M 1 385 M
Net Debt 2022 2 114 M 2 269 M 2 269 M
P/E ratio 2022 8,89x
Yield 2022 4,38%
Capitalization 11 372 M 12 210 M 12 210 M
EV / Sales 2022 1,16x
EV / Sales 2023 1,23x
Nbr of Employees 22 000
Free-Float 85,4%
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Number of Analysts 12
Last Close Price 14,16 €
Average target price 15,46 €
Spread / Average Target 9,21%
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Managers and Directors
Annica Bresky President & Chief Executive Officer
Seppo Matti Parvi Chief Financial Officer
Antti Mikael Mńkinen Chairman
Hock Goh Independent Director
Elisabeth Fleuriot Independent Director
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