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    STERV   FI0009005961

STORA ENSO OYJ

(STERV)
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Delayed Nasdaq Helsinki  -  05/27 11:29:58 am EDT
18.79 EUR   +1.40%
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Stora Enso strengthens its presence in France and invests in French wood processing

05/10/2022 | 08:57am EDT

Stora Enso invests in ACDF Industrie SAS and becomes a 35% shareholder of the French wood processing company. The investment is in line with Stora Enso's growth strategy for mass timber building elements, enabling value-added, bespoke CLT (cross-laminated timber) solutions to its long-term French partners.

ACDF Industrie SAS works with all engineered wood products like CLT, Glulam and LVL (laminated veneer lumber) and manufactures them into various value-added products such as walls, floors or roof elements for residential and non-residential buildings, mainly for the French market.

'France is one of our priority markets for growth, with building regulations favouring sustainable, renewable materials and low carbon property development. This investment builds on Stora Enso's capacity to produce CLT and LVL near sustainably managed forests, and ACDF Industrie's readiness to further process our wood products into walls, floors and roofs near construction sites all over France. This partnership strengthens our market reach and position as a leading global provider of sustainable engineered wood products,' says Lars Volkel, Executive Vice President, Stora Enso's Wood Products division.

ACDF Industrie SAS' investment in a second production line is developing according to plan. It will increase the capacity of mass timber elements and it will be ready in February 2023.

'We are delighted to have Stora Enso as a shareholder and continue our long and trusted partnership. Now we are even better equipped to push boundaries of wood construction by manufacturing highly prefabricated elements for our customers,' comments Bertrand Delaunay, CEO of ACDF Industrie SAS.

In addition, Stora Enso advances its strong partnership network in France by signing a business partnership with Bouygues S.A., securing a stable delivery of CLT to Bouygues' building projects.

'Stora Enso is pleased to strengthen its French partnership network as this will enable us to continue to develop solutions for the increasing demand for wooden building materials,' says Lars Volkel.

Stora Enso is Europe's largest supplier of wood products and has delivered around 20,000 construction projects worldwide. Wood is the only completely renewable building material available. As a sustainably sourced and produced wooden material, Stora Enso's CLT can help meet carbon offset requirements and lower the environmental footprint of construction and the building's entire life cycle.

About ACDF Industrie SAS

ACDF Industrie SAS is the wood processing entity of the Delaunay Group. ?The company manufactures and supplies all types of wooden structures for the new and renovation markets mainly in France. It has roughly 25 employees and a turnover of EUR 5.1 million in 20201.

Contact:

Cathrine Wallenius

SVP

Communications and Marketing Wood Products

Stora Enso

Tel: +46 70 209 2429

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).

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 11 179 M 11 976 M 11 976 M
Net income 2022 1 254 M 1 343 M 1 343 M
Net Debt 2022 1 954 M 2 093 M 2 093 M
P/E ratio 2022 11,6x
Yield 2022 3,23%
Capitalization 14 817 M 15 874 M 15 874 M
EV / Sales 2022 1,50x
EV / Sales 2023 1,51x
Nbr of Employees 22 000
Free-Float 85,5%
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Number of Analysts 13
Last Close Price 18,79 €
Average target price 20,38 €
Spread / Average Target 8,52%
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Managers and Directors
Annica Bresky President & Chief Executive Officer
Seppo Matti Parvi Chief Financial Officer
Antti Mikael Mäkinen Chairman
Hock Goh Independent Director
Elisabeth Fleuriot Independent Director
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