Mixed Results in Stora Enso’s 1Q; Shares Overvalued
Stora Enso reported mixed results in the first quarter, with positive EBIT growth in packaging solutions and wood products offset by negative results in consumer board, biomaterials, and paper. Overall, first-quarter EBIT was down 13% on the prior-year period. Some temporary issues negatively affected results, including ramp-up costs at the Beihai and Varkaus mills, and ongoing turbine repairs at the Enocell mill. Our fair value estimate increases to EUR 7.50 from EUR 7.00 due to slightly lower ...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.
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