Stora Enso Oyj R

Stora Enso is a provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Co.'s reporting segments are: Consumer Board, which develops and provides consumer packaging boards for printing and packaging applications; Packaging Solutions, which develops fibre-based packaging; Biomaterials, which provides a variety of pulp grades for paper, board, tissue, textile and hygiene product producers; Wood Products, which provides wood-based solutions for building and housing; Paper, which provides paper solutions for print media and office use; as well as Other, which includes Co.'s shareholding in the energy company, Pohjolan Voima.
  • TickerSTERV
  • ISINFI0009005961
  • ExchangeNasdaq Nordic Helsinki
  • SectorForestry & Paper
  • CountryFinland
Jimi Lehtonen

Stora Enso (Hold, TP: EUR10.50) - Discounting our biggest concerns

We expect the Q2 results to be burdened by profoundly weak paper markets and also difficult pulp and wood products markets. Packaging should be mixed, with the panic-buying effect petering out and a decline in demand emerging in non-essential segments. The outlook remains highly uncertain, but in our view Q2 should be a decent quarter, and the risk of a severe and widespread collapse in demand has faded somewhat. We have upgraded to HOLD and raised our target price to EUR10.5 (9).

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Report - Q2: A divided market

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Fast Comment - May pulp data: shipments +2% y-o-y

Global shipments 2% y-o-y, to China +4% y-o-y Inventories up 3% m-o-m, 20% above hist. avg. Pulp prices +5% YTD, but shown some weakness lately

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Fast Comment - April pulp data: shipments +5% y-o-y

Global shipments +5% y-o-y, to China +0% y-o-y Inventories up 8% m-o-m, 13% above hist. avg. Pulp prices have increased ~5% YTD

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Fast Comment - March pulp data: shipments +4% y-o-y

Global shipments +4% y-o-y, to China +7% y-o-y Inventories down 5% m-o-m, 8% above hist. avg. Pulp prices have increased 4-5% YTD

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EM Remains In Favor; Shanghai Comp Breaking Out A weakening US dollar (DXY) continues to be a major tailwind for both EM equities and the commodity Sectors. Improving price and RS trends for these risk-on areas of the market are among the many characteristics consistent with historical bull markets. Therefore, we continue to label this a bull market and we believe global equities are still in the early innings of a broad-based advance. • EM Equities. Price action has remained weak for the US dollar (DXY), which has been great news for EM equities. As outlined in our 12/19/19 Int'l Compass an...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

The Pause that Refreshes? We continue to believe the weight of the evidence points to a new leg higher for global equities, a viewpoint that is supported by the several international markets that are breaking out to new highs or making bullish inflections since our previous Int'l Compass (10/31/19). While developments continue to lean bullish, global equities have rallied substantially since the start of October, making it perfectly reasonable to expect some consolidation of recent gains which would allow for a more meaningful move higher. • New Highs or Bullish Inflections. The number of in...

Jimi Lehtonen

Stora Enso (Hold, TP: EUR10.50) - Discounting our biggest concerns

We expect the Q2 results to be burdened by profoundly weak paper markets and also difficult pulp and wood products markets. Packaging should be mixed, with the panic-buying effect petering out and a decline in demand emerging in non-essential segments. The outlook remains highly uncertain, but in our view Q2 should be a decent quarter, and the risk of a severe and widespread collapse in demand has faded somewhat. We have upgraded to HOLD and raised our target price to EUR10.5 (9).

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Report - Q2: A divided market

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Fast Comment - May pulp data: shipments +2% y-o-y

Global shipments 2% y-o-y, to China +4% y-o-y Inventories up 3% m-o-m, 20% above hist. avg. Pulp prices +5% YTD, but shown some weakness lately

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Fast Comment - April pulp data: shipments +5% y-o-y

Global shipments +5% y-o-y, to China +0% y-o-y Inventories up 8% m-o-m, 13% above hist. avg. Pulp prices have increased ~5% YTD

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Fast Comment - March pulp data: shipments +4% y-o-y

Global shipments +4% y-o-y, to China +7% y-o-y Inventories down 5% m-o-m, 8% above hist. avg. Pulp prices have increased 4-5% YTD

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 30/10/2019 - Fiat Chrysler Automobiles (Achat) – Peugeot (Achat) - EN

Fiat Chrysler Automobiles (O/P) - Peugeot (O/P): Confirm Merger Talks Unicaja Banco: Tier 2 10NC5 Bond Issue Santander (O/P) - 9M-19:  Revenues of €37.0bn (+2.8%) Deutsche Bank (U/P) - 9M-19: Net Loss of €4.1bn (vs Net Profit of €455m A Year Earlier) Pirelli (O/P) - 9M-19: EBITDA of €979m (+7.8%) Fresenius (M/P) - 9M-19: EBITDA of €4.5bn (+2.7%) Atos (O/P): Completes The Sale of Worldline and €500m Convertible Issue Stora Enso (O/P) - 9M-19: EBIT of €841m (-20.2%)

Joan Sehim

STORA ENSO- 2Q18 Comments

Stora Enso, the Finish paper and packaging producer, has released good 2Q18 results with sales of €2,664m, up 5% yoy (+9% at constant currency and perimeter), and operational EBIT of €327m (12.3% margin) against €219m (8.7%) last year. The primary driver has been further increase in prices (+9% at the group level), reflecting both a tight supply and higher raw materials costs.

Joan Sehim

Stora Enso 1Q17 - Back to growth with reshaping plan, flattish 2Q17 expected

Stora Enso, the Finnish papermaker, reported solid 1Q17 results. For the first time in years, yoy sales grew +2% to €2.5bn, including +4% from volume and -2% from change in perimeter...

Stora Enso Oyj - December 2016 (LTM): Peer Snapshot

Peer Snapshot: Stora Enso Oyj - December 2016 (LTM) 28 March 2017 (in US millions) FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Sep-15 FYE Sep-16 LTM Dec-16

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Joachim Gunell
  • Martin Arnell
  • Nicolai Farstad Olsen
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Christoffer Wang Bjørnsen ...
  • Frank Maaø
  • Håkon Astrup
  • Jimi Lehtonen
  • Martin Arnell
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Stefan Gauffin
  • Viktor Trollsten

Northern Lights

Christoffer Wang Bjørnsen ...
  • Helene Kvilhaug Brøndbo
  • Jimi Lehtonen
  • Joachim Gunell
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
  • Patrik Ling
  • Paul Harper
  • Stefan Gauffin

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jesper Ingildsen
  • Jimi Lehtonen
  • Jon Berggren
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christer Magnergård ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo

Northern Lights

STORA ENSO OYJ sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of STORA ENSO OYJ (FI), a company active in the Paper industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date May 19, 2020, the closing price was EUR 10.61 and its potential was estimated at EUR 12.15.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Stora Enso – AGM 4 june 2020

In general, Stora Enso is in compliance with the Finnish regulations relating to the organisation and procedures of the Annual General Meeting.   Under ITEM 10 the board of directors requests an advisory vote on the Company's executive remuneration policy. ECGS notes that this is the first time that Stora Enso puts its executive remuneration policy to a vote, which it strongly welcomes. Although ECGS has some concerns with regard to Stora Enso's remuneration policy, the proposed structure is basically in line with its guidelines. Accordingly, ECGS recommends to vote FOR.   Under ITEM 11 th...

Expert Corporate Governance Service (ECGS)

Stora Enso - AGM 19 March 2020

In general, Stora Enso is in compliance with the Finnish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 10 the board of directors requests an advisory vote on the Company’s executive remuneration policy. ECGS notes that this is the first time that Stora Enso puts its executive remuneration policy to a vote, which it strongly welcomes. Although ECGS has some concerns with regard to Stora Enso’s remuneration policy, the proposed structure is basically in line with its guidelines. Accordingly, ECGS recommends to vote FOR. Under ITEM 11 the shar...

Stora Enso – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Stora- Enso,, March 14 2019

In general, Stora Enso is in compliance with the Finnish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 10, the shareholders nomination board proposes to increase the remuneration of the board of directors by somewhere between 3% and 10%. As ECGS considers the current fees of the board of directors already at the upper level of Finnish market practice for a company with the size and complexity of Stora Enso, it does not approve of any increases without adequate justification. Since the proposal is not adequately justified (i.e. not motivated ...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 27/04/2017

In general, Stora Enso is in compliance with the Finnish regulations relating the organisation and procedures of the Annual General Meeting.We recommend to vote in favour of all proposals.

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