Stora Enso Realigns Business Areas and Reporting Segment Structure
Jan. 17, 2012 (Press Release) - Stora Enso has decided to renew its Business Area and Reporting Segment structure. The Group will combine the paper reporting segments Newsprint and Book Paper, Magazine Paper and Fine Paper into one Business Area and reporting segment called Printing and Reading. The reporting segments Consumer Board and Industrial Packaging will form the Renewable Packaging Business Area and Reporting Segment. A new Business Area and Reporting Segment called Biomaterials is established comprising mainly the Company's joint-venture pulp mills, stand-alone pulp mills and wood plantations. The Wood Products Business Area will be renamed as Building and Living.
The Company will have four Business Areas and Reporting Segments:
- Biomaterials, headed by EVP Juan Bueno
- Printing and Reading, headed by EVP Juha Vanhainen
- Renewable Packaging, headed by EVP Mats Nordlander
- Building and Living, headed by EVP Hannu Kasurinen
The changes in the Business Areas and management will take place as of 17 January 2012.
"We are organising our businesses based on the different markets and customers they serve. The aim is to increase our organisation's competitiveness, flexibility, speed and accountability, and to minimise interdependences between the businesses to ensure that we have the ability and agility to seize opportunities arising from the changes in the global economy," says CEO Jouko Karvinen.
The first financial report according to the new reporting segment structure will be the first quarter 2012 Interim Review to be released on 24 April 2012. Historical figures according to the new reporting structure will be published on Stora Enso's Capital Markets Day on 22 March 2012.
Change in outlook formulation
Stora Enso will change the formulation of how it gives its forward-looking guidance with effect from the fourth quarter of 2011 results onwards. The Group will cease to give future grade-specific price and demand guidance, and instead will give forward-looking guidance for quarterly sales and operational EBIT for the ongoing quarter to improve the capital markets service.
SOURCE: Stora Enso