Stora Enso Oyj - SEOJF STOCK NEWS

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Stora Enso Oyj is a prominent player in the global bioeconomy, specializing in renewable products such as packaging, biomaterials, and wooden construction. With approximately 21,000 employees and sales reaching EUR 11.7 billion in 2022, the company is committed to sustainability and innovation. Recently, Stora Enso announced a new profit improvement program targeting an annualized EUR 80 million improvement in operational EBIT, which may lead to around 1,000 employee reductions. This initiative aims to enhance long-term competitiveness and profitability by focusing on core business activities.

02/01/2024 02:01 AM

News

Stora Enso plans a programme to improve long-term profitability and competitiveness

Rhea-AI Summary

Stora Enso Oyj plans to initiate a new profit improvement program targeting an annualized EUR 80 million improvement of the operational EBIT, potentially leading to a reduction of approximately 1,000 employees. The majority of the savings would materialize during 2025, and the larger part of the employee reductions are planned to take place during the first half of 2024. The program is designed to improve the company's long-term competitiveness by focusing on core business activities without any new production site closures. Stora Enso completed a restructuring program in 2023, resulting in an annual operational EBIT improvement of EUR 110 million and 1,150 employee reductions.

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FAQ

What is the current stock price of Stora Enso Oyj (SEOJF)?

The current stock price of Stora Enso Oyj (SEOJF) is $13.65 as of February 12, 2025.

What is the market cap of Stora Enso Oyj (SEOJF)?

The market cap of Stora Enso Oyj (SEOJF) is approximately 10.8B.

What does Stora Enso Oyj specialize in?

Stora Enso Oyj is a leading provider of renewable products in packaging, biomaterials, and wooden construction, emphasizing sustainability and innovation.

What is the goal of the new profit improvement program?

The new profit improvement program aims to achieve an annualized EUR 80 million improvement in operational EBIT by focusing on core business activities.

How many employees may be impacted by the profit improvement program?

The profit improvement program could potentially lead to a reduction of around 1,000 employees.

What recent restructuring program did Stora Enso Oyj complete?

Stora Enso Oyj completed a restructuring program in the previous year, resulting in an annual operational EBIT improvement of EUR 110 million and 1,150 employee reductions.

Where is Stora Enso Oyj listed for trading?

Stora Enso Oyj shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R), as well as traded in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF).