Stora Enso has decided to invest approximately EUR 79 million in a new production line for cross laminated timber (CLT) at its Ždírec sawmill in the Czech Republic. The investment will further enhance Stora Enso’s position as a global provider of high-quality engineered wooden elements and as a market leader in CLT. Production is scheduled to begin during the third quarter of 2022. The estimated annual production capacity will be approximately 120 000 m³ after ramp-up. The investment is expected to generate annual sales of approximately EUR 70 million when run at full capacity and to meet the Wood Products division’s profitability target of 20% operational return on operating capital (ROOC).
• Sales increased by 22.6% to EUR 2 592 (2 114) million, due to higher deliveries and prices. Sales excluding Paper increased by 28.4%.
• Operational EBIT increased to EUR 364 (178) million, due to higher prices and volumes, especially in Biomaterials, Wood Products, and Packaging Materials. Operational EBIT excluding Paper increased to EUR 413 (216) million.
• Operational EBIT margin increased to 14.0% (8.4%). Excluding Paper, the operational EBIT margin was 19.1% (12.9%
• The value of forest assets, including leased land and Stora Enso’s share of Tornator, increased to EUR 7.4 (5.4) billion. The forest valuation method was changed in Q4/2020 to market based valuation in Sweden.
• Strong cash flow from operations amounted to EUR 463 (363) million. Cash flow after investing activities was EUR 339 (239) million.
• Net debt decreased by EUR 314 million to EUR 2 975 (3 289) million.