Stora Enso changes its segment reporting

Q2 2017 Highlights • Sales of $1,130 million (compared to $1,006 million in Q1 2017 (+12%) and $998 million in Q2 2016 (+13%)) • As reported (including specific items) • Operating income of $48 million (compared to $31 million in Q1 2017 (+55%) and $65 million in Q2 2016 (-26%)) • OIBD 1 of $104 million (compared to $78 million in Q1 2017 (+33%) and $112 million in Q2 2016 (-7%)) • Net earnings per common share of $3.41 (compared to net earnings of $1.70 in Q1 2017 and net earnings of $0.38 in Q2 2016) • Adjusted (excluding specific items) 2 • Operating income of $51 million (compared to $28 million in Q1 2017 (+82%) and $65 million in Q2 2016 (-22%)). Click Read More below for additional detail.

Net sales in the first quarter were $2,197 million compared to $1,901 million in the first quarter of 2017 reflecting increased beverage can volumes, the pass through of higher material costs to customers, and $121 million of favorable currency translation impact. Income from operations was $221 million in the quarter compared to $225 million in the first quarter of 2017. Segment income increased to $245 million in the first quarter compared to $226 million in the prior year first quarter and included $12 million of favorable currency translation impact. Click Read More below for additional information.

Brazilian beverage producer Socorro Bebidas (Socorro) has expanded its partnership with Crown Embalagens Metálicas da Amazônia S.A., a subsidiary of Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com), to launch Acquíssima Sabor flavored mineral water in 350ml (12oz) CrownSleek cans. The premium zero-calorie drink features natural aromas, offering a health-conscious alternative for consumers to stay hydrated and incorporate key nutrients into their daily diets. The line made its debut with two flavors, Lychee and Green Apple, and is currently available in Acquíssima stores, restaurants and supermarkets in Brazil. Socorro also previously utilized CrownSleek cans to package its Acquíssima mineral water brand, its first entry into the water market. Total canned water volume in Brazil has increased by nearly 7x between 2021 and 2022, demonstrating a growing trend in the region for water packaged in aluminum and a continued shift away from tap and bulk water. When considering the package format for the brand, Socorro knew it needed to help convey the refreshing and health-conscious nature of the beverage, while also delivering on sustainability. The inherent properties of metal packaging, including providing a powerful barrier against light and oxygen, helps maintain the product's freshness. Aluminum beverage cans are also infinitely recyclable and are the most recycled beverage package in the world. These characteristics resonate with Brazilian consumers, who have recently helped drive the country's recycling rate for aluminum beverage cans to an astounding 100%.