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8 % fewer wood products sold by Stora Enso in Q4

13.02.2020 − 

The Wood Products division of Stora Enso sold approximately 1.149m m³ of sawnwood and wood products in the fourth quarter of last year, 7.9 % less than in the same quarter of the year before. Sales revenue fell by 6.3 % to 374m €. EBITDA and EBIT decreased by almost half and two thirds, respectively, to 26m € and 14m €. The EBITDA and EBIT margins fell heavily to 7.0 % and 3.6 %, respectively.

According to information from the group, the poorer results were partly attributable to lower sawnwood prices, the costs incurred by the closure of the Kitee spruce sawmill, and the cost of the two-months of halted production at the Uimaharju sawmill. The Uimaharju works was also assigned to the Biomaterials division on 1 January. The non-recurring items were only partly compensated for by lower log prices in central Europe and a reduction in the division’s fixed costs. The sale of the finger-jointed carcassing works of Stora Enso Timber in Pfarrkirchen to the investment fund LEO II. – VV1 managed by Dubag will appear in the accounting for the first quarter.

Consolidated sales revenue amounted to 2.411bn € in the period under review, 9.2 % less than a year earlier. EBITDA was 36.0 % down at 259m € and EBIT 58.8 % lower at 112m €. Besides regressive selling prices for the majority of products, the result was also impaired by the strikes in December.

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