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    STERV   FI0009005961

STORA ENSO OYJ

(STERV)
  Report
Delayed Nasdaq Helsinki  -  11:29 2022-11-30 am EST
13.98 EUR   -0.46%
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Stora Enso - Saving 120 tonnes of plastic waste by replacing a lid

09/26/2022 | 08:56am EST

Europe's leading take-away salad bar company Picadeli replaced their single-use plastics lid with a formed fiber lid. The new lid is plastic-free, PFAS-free, renewable, recyclable, biodegradable and saves about 120 tonnes of plastic waste annually.

Picadelihas 2 300 salad bars throughout Europe and the USA. With a strong focus on sustainability Picadeli have set up a target to reduce their usage of plastic by 50% by 2025. Because of this, they wanted a plastic-free lid for their take-away packaging.

Picadeli's concept is self-serving salad bars where the consumers pick and mixes their own salads. From the start Picadeli used plastic bowls and plastic lids. The bowl was changed to a cardboard bowl a few years back. Leaving the next challenge for Picadeli: Replacing the plastic lid.

Renewable, plastic-free, recyclable and biodegradable

'We searched for a paper-based lid and started to discuss possibilities with Stora Enso. They introduced us to formed fiber which sounded great, but what would our customers think? As they won't be able to see the salad through this type of non-transparent lid,' says Christine Soome, Food Concept Developer at Picadeli.

Together, Picadeli and Stora Enso developed a lid made out of formed fiber. Formed fiber is an eco-friendly material made from wood fibers.

'These types of lids only existed for drinking cups but not in bigger sizes. We had to develop a brand-new product that no one had done before,' says Yujia Zhang, Product Manager, Stora Enso.

The new formed fiber lid, as other Stora Enso PureFiber products for take-away food, is plastic-free, recyclable as paper, biodegradable and free from PFAS and other forever chemicals.

Designed for the consumers

And it turns out, Picadeli's customers love it.

'Yes, we tested the first prototype in a big mall in Gothenburg. I was there myself and got comments like 'finally, the plastic lid is gone!' Since they pick the salad themselves the need to see the food after closing with the lid was non-existing', says Christine Soome.

Other features are, a 'puff' sound the lid makes when it's attached to the bowl, proving that it's tightly sealed. Also: You can stack salad packages on top of each other for easy carrying and the lid has a round compartment suitable for a dressing cup. The design was a collaboration between Picadeli's marketing department and Stora Enso's packaging designer. Picadeli did the graphic design for the debossing on the lid whilst Stora Enso was responsible for the structural design.

'We've been close partners in all steps which is a big part in the success, it's not been a customer/supplier relationship but a cooperation between our companies. It has been great fun and very rewarding!' Christine ends.

Picadeli will replace 10 000 000 plastic lids yearly with the PureFiber lid which will reduce their plastic waste with approximately 120 tonnes annually. The carbon footprint of the PureFiber lid is up to 75% lower than alternative materials such as plastic or bagasse.

Stora Enso

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 (SEOAY).

Contact:

Phone: +358 2046 111

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 11 652 M 12 016 M 12 016 M
Net income 2022 1 231 M 1 269 M 1 269 M
Net Debt 2022 2 090 M 2 156 M 2 156 M
P/E ratio 2022 8,90x
Yield 2022 4,44%
Capitalization 11 193 M 11 543 M 11 543 M
EV / Sales 2022 1,14x
EV / Sales 2023 1,21x
Nbr of Employees 22 000
Free-Float 85,4%
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Number of Analysts 13
Last Close Price 13,98 €
Average target price 16,30 €
Spread / Average Target 16,6%
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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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