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May 15, 2017

Stora Enso reports sharp profit rise in its Wood Products division

Stora Enso reports sharp profit rise in its Wood Products division

The wood products division in Stora Enso has recorded a 34 per cent increase in operational earnings before investment, tax, depreciation and amortisation (EBITDA) in 2017 Q1, compared to 2016 Q1.

Deliveries increased by 11.6 per cent to reach 1.21 cbm; and divisional sales saw an 8.9 per cent rise to hit €416 million (US$456 million) compared to the €382 million (US$418 million) in 2016.

Stora Enso credits the growth in operational earnings to the slightly higher sales prices and higher volumes, notably for spruce sawn products, realised.

The boost in sales can also be traced to the investments in the Varkaus laminated veneer lumber (LVL) line, upgrades in the Murów sawmill, and rising demand and prices for cross-laminated timber (CLT).

Stora Enso is also set to invest in a biocomposite granules manufacturing line with a 15,000-tonne yearly production capacity at its production mill in Hylte, Sweden.

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