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    STERV   FI0009005961

STORA ENSO OYJ

(STERV)
  Report
Delayed Nasdaq Helsinki  -  11:29 2022-11-29 am EST
14.04 EUR   +2.11%
09:56aStora Enso - Pioneering sustainable packaging technology with PulPac
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07:29aEuropean Commission OKs Stora Enso's Purchase of Dutch-Based De Jong, DJV
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11/28Stora Enso Oyj : Pioneering sustainable packaging technology with PulPac
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Stora Enso Oyj agreed to acquire De Jong Verpakking B.V. for €1.1 billion.

09/08/2022 EST

Stora Enso Oyj (HLSE:STERV) agreed to acquire De Jong Packaging Group for €1.1 billion on September 8, 2022. The enterprise value of the transaction is approximately €1,020 million of which €250 million is IFRS lease liabilities. The enterprise value corresponds to a multiple of 8.9, based on an adjusted EBITDA of €114 million for 2022.

Stora Enso may in 2024, make a maximum additional earn-out payment in cash of €45 million, subject to De Jong Packaging Group achieving certain earnings thresholds. De Jong Packaging reported €1 billion in sales. The transaction is subject to employee consultation and regulatory approval.

The acquisition of De Jong Packaging Group has been approved by Stora Enso's Board of Directors. Closure of the transaction is expected at the beginning of 2023. The transaction is expected to be EPS accretive from the first year.

Stifel and KPMG acted as Stora Enso's advisors in this transaction. Gijs Linse of Allen & Overy Amsterdam acted as legal advisor to Stora Enso Oyj (HLSE:STERV).


ę S&P Capital IQ 2022
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Analyst Recommendations on STORA ENSO OYJ
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Financials
Sales 2022 11 652 M 12 049 M 12 049 M
Net income 2022 1 231 M 1 273 M 1 273 M
Net Debt 2022 2 090 M 2 162 M 2 162 M
P/E ratio 2022 8,94x
Yield 2022 4,42%
Capitalization 11 285 M 11 669 M 11 669 M
EV / Sales 2022 1,15x
EV / Sales 2023 1,22x
Nbr of Employees 22 000
Free-Float 85,4%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 14,04 €
Average target price 16,30 €
Spread / Average Target 16,1%
EPS Revisions
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
Sector and Competitors
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