Stora Enso is growing beyond paper, but the segment will continue to weigh on performance.
Stora Enso reported solid results overall in the third quarter, despite an 11% drop in operational EBIT. The decline in EBIT was primarily caused by EUR 35 million in ramp-up costs at the Beihai consumer board mill. Excluding the mill costs, operational EBIT would have increased 3%. The Behai mill ramp is ahead of plan and is poised to drive strong growth in the consumer board segment over the next 18 months. We are maintaining our no-moat rating but increasing our fair value estimate to EUR 7.0...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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