Stora Enso’s Quarter 3 Interim Report indicates that sales increased 3.0% to €2,585 (2,509) million, making Q3 the seventh consecutive quarter of sales growth. The growth was primarily due to favourable prices and active product mix management. Operational EBIT increased 23.4% to €358 (290) million.
The balance sheet continued to strengthen and net debt was reduced by €304 million. The net debt to operational EBITDA ratio improved significantly to 1.1 (1.6). Operational ROCE was 16.7% (13.9%), well above the strategic target of 13% for the fifth consecutive quarter.
In other news Stora Enso has increased its ownership up to 100% in the Sweden-based company Cellutech AB. The company specialises in the development of new materials and applications based on cellulose, micro-fibrillated cellulose (MFC) and other wood-based components. The acquisition supports Stora Enso’s vision of replacing fossil-based materials with renewable ones originating from wood.
