Stora Enso Corp - SEOAY STOCK NEWS

Stora Enso reported improved financial results for Q4/2024 despite challenging market conditions. Sales increased 7% to EUR 2,322 million, with adjusted EBIT rising to EUR 121 million from EUR 51 million year-on-year. The company's profit improvement programme achieved EUR 110 million in fixed cost reductions, approaching its EUR 120 million target.

Key highlights include a 53% reduction in greenhouse gas emissions, surpassing the 2030 target, and progress on the consumer board investment at the Oulu site. The company plans to sell approximately 12% of its Swedish forest assets, valued at EUR 6.3 billion.

For 2024, full-year sales were EUR 9,049 million, with adjusted EBIT of EUR 598 million, marking a 75% increase. The Board proposed a dividend of EUR 0.25 per share. Looking ahead, Stora Enso expects demand to remain subdued and volatile, with high wood prices persisting throughout 2025. The company forecasts approximately EUR 100 million negative impact on adjusted EBIT in 2025, primarily in H1, due to the Oulu packaging board line ramp-up.

Stora Enso reported improved financial results for Q4/2024, with sales increasing 7% to EUR 2,322 million and adjusted EBIT rising to EUR 121 million. The company's adjusted EBIT margin increased to 5.2% from 2.3% year-over-year.

For the full year 2024, sales were EUR 9,049 million, with adjusted EBIT of EUR 598 million, marking a 75% increase. The company achieved EUR 110 million in fixed cost reductions through its profit improvement programme. The fair value of forest assets increased to EUR 8.9 billion.

Key developments include the planned sale of 12% of Swedish forest assets, surpassing the 2030 greenhouse gas emissions reduction target, and progress on the Oulu site consumer board investment. The Board proposed a dividend of EUR 0.25 per share. Looking ahead, Stora Enso expects subdued and volatile demand, with the Oulu board line ramp-up expected to impact 2025 adjusted EBIT by approximately EUR 100 million.

Stora Enso has announced its Annual General Meeting (AGM) to be held on March 20, 2025, at Marina Congress Center in Helsinki, Finland. Key points include:

The Board proposes a dividend of EUR 0.25 per share, to be paid in two installments: EUR 0.13 on April 2, 2025, and EUR 0.12 on October 2, 2025. The company's distributable capital as of December 31, 2024, was EUR 1.44 billion.

The Shareholders' Nomination Board proposes increasing Board members' remuneration by 3%, with the Chair to receive EUR 221,728, Vice Chair EUR 125,186, and members EUR 85,933. The Board will have nine members, with Elena Scaltritti and Antti Vasara proposed as new members.

The Board seeks authorization to repurchase up to 2,000,000 R shares (approximately 0.25% of all shares) for incentive and remuneration schemes.

Stora Enso has announced the conversion of 450 A shares into R shares during the December 2024 conversion period. The converted shares were recorded in the Finnish trade register on January 15, 2025, with trading of the new R shares commencing on January 16, 2025.

Following the conversion, the company's share structure stands at 175,663,629 A shares and 612,956,358 R shares, totaling 788,619,987 shares. Each A share carries one vote, while ten R shares are required for one vote, resulting in a total of at least 236,959,264 votes.

Stora Enso, a leading provider of renewable products in packaging, biomaterials, and wooden construction, reported sales of EUR 9.4 billion in 2023 and employs approximately 20,000 people. The company's shares are listed on Nasdaq Helsinki, Nasdaq Stockholm, and traded in the USA on OTC Markets.

Stora Enso Oyj announced that BlackRock, Inc.'s holding in the company's shares decreased below the 5% threshold on December 26, 2024. The previous position showed BlackRock holding 4.76% shares with 0.27% through financial instruments, totaling 5.04%. The company has two share series: 175,664,079 A shares and 612,955,908 R shares, with a total of 788,619,987 shares. Each A share and every ten R shares carry one vote, resulting in at least 236,959,669 total votes.

BlackRock's holdings include various financial instruments such as American Depositary Receipts, securities lent, and CFDs. Stora Enso is listed on Nasdaq Helsinki (STEAV, STERV), Nasdaq Stockholm (STE A, STE R), and trades in OTC Markets as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF).

Stora Enso Oyj announced that BlackRock, Inc's holding in the company's shares decreased below the 5% threshold on December 25, 2024. The resulting situation shows BlackRock holding 4.76% of shares directly through 37,609,170 shares, and an additional 0.27% through financial instruments, totaling 5.04% of shares with voting rights below 5%.

The financial instruments include American Depositary Receipts (596,930 shares), Securities lent (1,036,720 shares), and CFDs (563,510 shares), totaling 2,197,160 shares. Stora Enso has two share series: 175,664,079 A shares and 612,955,908 R shares, with a total of 788,619,987 shares and at least 236,959,669 total votes.

Stora Enso Oyj announced that BlackRock, Inc's holding in the company's shares decreased below the 5% threshold on December 24, 2024. The previous position showed BlackRock holding 4.92% shares and 0.14% through financial instruments, totaling 5.06% of shares with voting rights below 5%.

The company has two share series: 175,664,079 A shares and 612,955,908 R shares, with each A share and every ten R shares carrying one vote. The total number of shares is 788,619,987 with at least 236,959,669 total votes. Stora Enso is a leading provider of renewable products in packaging, biomaterials, and wooden construction, with approximately 20,000 employees and sales of EUR 9.4 billion in 2023.

The Shareholders' Nomination Board of Stora Enso has announced its proposals for the Annual General Meeting scheduled for March 20, 2025. The board recommends maintaining nine members, with seven current members proposed for re-election and two new members, Elena Scaltritti and Antti Vasara, to be elected. The board proposes Kari Jordan as Chair and Håkan Buskhe as Vice Chair.

The proposal includes a 3% increase in annual remuneration for board positions, with the Chair to receive EUR 221,728, Vice Chair EUR 125,186, and Members EUR 85,933. 40% of the remuneration will be paid in Stora Enso R shares. Committee remuneration is also set to increase by 3%.

Stora Enso has announced two new share-based incentive plans for key employees, targeting approximately 300 employees with a maximum plan opportunity of EUR 20 million. The plans include the Performance Share Plan 2025-2027 and Restricted Share Unit Plan 2025-2027.

The Performance Share Plan's rewards will be based on earnings per share, total shareholder return, CO2 emission reduction, and gender balance in managerial positions. The Restricted Share Unit Plan will run until December 31, 2027. Both plans will deliver rewards in Stora Enso R shares and cash, with the cash portion covering taxes and social security contributions.

Group Leadership Team members are expected to maintain company shares valued at their gross salary during their membership.