Stora Enso's fourth quarter 2023 impairment test results

 The impairment charges are allocated between the segments as follows:  The impairment charges are allocated between the segments as follows:                                     EUR million                                     Goodwill                                     Fixed assets                                         Total impairment                                                                                   Packaging...

 The impairment charges are allocated between the segments as follows:

                                   

EUR million

                                   

Goodwill

                                   

Fixed assets

                                   

 

 Total impairment                                   

                                               

Packaging Materials

                                   

26

 

355

 

 

381

 

Biomaterials

                                   

45

 

58

 

 

103

 

Wood Products

                                   

—

 

15

 

 

15

 

Other

                                   

—

 

15

 

 

15

 

Total

                                   

71

 

443

 

 

514

 

 

The fixed asset impairments in the Packaging Materials division mainly relate to the Business Unit Containerboard and in the Biomaterials division to the Nordic production units. The impairments are mainly a consequence of Stora Enso's predictions of a weaker outlook compared to previous estimates.

As a result of the impairment booking, the annual depreciation will decrease by approximately EUR 40 million going forward. The impairments do not impact Stora Enso's full-year 2023 guidance.

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691 

Part of the global bioeconomy, 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. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 21,000 employees and our sales in 2022 were EUR 11.7 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors 

STORA ENSO OYJ

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691 

 

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