Stora Enso Says 2024 Adjusted EBIT to be Significantly Higher than Previous Guidance

May 15, 2024 - Stora Enso said it is estimating that the previous full year 2024 adjusted EBIT guidance will be exceeded due to a successful implementation of profit improvement actions and more favorable market conditions. The company has therefore revised its full year 2024 adjusted EBIT guidance to be significantly higher (+50% and above) than the full year 2023 of EUR 342 million.

The previous guidance for the full year 2024 was the adjusted EBIT to be higher (more than +15%, but less than +50%) than full year 2023.

In a press release, Stora Enso said, "The outlook has improved due to increasing orderbooks and volumes for consumer board, as well as improved pricing outlook for the containerboard and consumer board businesses. Pulp prices continue to increase, and the outlook for the rest of this year is stronger than previously estimated. Challenging market conditions still continue in the Wood Products and Packaging Solutions divisions.

"Market uncertainties such as a continued high inflationary environment, strikes, demand and price development, and other external disruptions, which may impact the Group's profits, are still expected to persist towards the end of 2024," the company noted.

Stora Enso will publish its half-year report for January-June 2024 on July 24.

Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world.

SOURCE: Stora Enso