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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Stora Enso Oyj    STERV   FI0009005961

STORA ENSO OYJ

(STERV)
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Stora Enso Oyj : to start feasibility study for expanding pulp and board capacity at Skoghall Mill

11/11/2020 | 02:01am EST

STORA ENSO OYJ INVESTOR NEWS 11 November 2020 at 9.00 EET

Stora Enso has decided to commence a feasibility study and environmental permit application process on enhancing and expanding the pulp- and board-making capabilities at its Skoghall Mill in Sweden. The investment would leverage the already strong mill into an integrated, highly cost-competitive and environmentally-friendly producer of packaging board and bleached softwood market pulp. The investment would serve customers globally and further establish Stora Enso as a provider of high-quality, renewable packaging materials.

The feasibility study will evaluate a possible upgrade and expansion of existing integrated pulp capacity from 370 000 tonnes to 780 000 tonnes annually and a possible increase of 120 000 tonnes in board capacity. After the investment, the mill would be integrated close to 100%, with an additional 220 000 tonnes of softwood market pulp. This would enable a further increase in cost-competitive board production. The project would also significantly lower the fossil CO2 emissions of production. The findings of a recently completed pre-feasibility study supported continuation of the investment process.

If the investment is approved following the feasibility study and environmental permit application process, the capital expenditure for the upgrade and expansion is estimated to be approximately EUR 800-850 million. The feasibility study is expected to be completed by the end of 2021. Production would start earliest in Q4/2023. Currently, Skoghall Mill has an annual production capacity of 885 000 tonnes of packaging board.

"Skoghall Mill is one of our core integrated platforms for packaging materials. The investment would allow us to grow and be more flexible in serving our customers and meet an increasing demand for sustainable packaging among consumers. The investment would be in line with our strategy to accelerate growth in the packaging business as well as to develop the competitiveness of our mills based on economies of scale and integration benefits. It would also bolster the potential of profitable growth in attractive packaging end-use segments, such as liquid packaging board and coated unbleached kraft. The possible decision regarding an expansion of Skoghall Mill will be made once the feasibility study has been completed and pending the outcome of the environmental permit application process with local authorities," says Hannu Kasurinen, EVP, Stora Enso's Packaging Materials division.
For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46 72 221 9228
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767
Part of the bioeconomy, Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has some 25 000 employees in over 30 countries. Our sales in 2019 were EUR 10.1 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com (http://www.storaenso.com)

 

STORA ENSO OYJ

For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46 72 221 9228
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767

https://news.cision.com/stora-enso-oyj/r/stora-enso-to-start-feasibility-study-for-expanding-pulp-and-board-capacity-at-skoghall-mill,c3234988

https://news.cision.com/stora-enso-oyj/i/skoghall,c2848728

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 8 572 M 10 412 M 10 412 M
Net income 2020 463 M 562 M 562 M
Net Debt 2020 3 038 M 3 690 M 3 690 M
P/E ratio 2020 25,7x
Yield 2020 2,23%
Capitalization 12 781 M 15 462 M 15 525 M
EV / Sales 2020 1,85x
EV / Sales 2021 1,75x
Nbr of Employees 25 000
Free-Float 74,5%
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 15,84 €
Last Close Price 16,18 €
Spread / Highest target 23,6%
Spread / Average Target -2,11%
Spread / Lowest Target -19,7%
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Managers and Directors
NameTitle
Annica Bresky President & Chief Executive Officer
Jorma Olavi Eloranta Chairman
Seppo Matti Parvi Chief Financial Officer
Teemu Salmi Chief Information Officer
Hans Torgny Stråberg Vice Chairman
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