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Stora Enso (STE) investor relations material
Stora Enso CMD 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.CMD 2025 summary25 Nov, 2025
Strategic direction and business transformation
Announced the demerger of Swedish forest assets, creating two focused, stock-listed companies: a renewable materials/packaging company and a pure-play forest company, with the demerger targeted for early 2027.
Strategic review of Central European wood products businesses underway to streamline focus on core packaging operations.
Emphasis on renewable materials and packaging as core growth areas, with a more focused strategy and leadership in these segments.
Leadership team restructured for 2026, aligning executive roles with the new strategic focus areas.
Emphasis on a performance culture built on ambition, agility, analytical approach, and accountability (the "4A" concept).
Financial guidance, targets, and capital allocation
New long-term financial targets: annual growth above 4%, adjusted EBIT margin above 10%, payout ratio above 50%, and net debt below 1x EBITDA (flexibility up to 2x for strategic investments).
Margin expansion to be achieved primarily through EUR 500–700 million in identified internal actions over the next 2–3 years, not reliant on market recovery.
CapEx to decrease from over EUR 1 billion/year to below EUR 600 million in 2026, with a focus on asset optimization and cash generation.
Capital allocation prioritizes deleveraging, shareholder returns, and only highly scrutinized strategic investments.
Debt from the demerger to be sensibly split between the two companies, ensuring both remain investment grade.
Business area developments and innovation
Packaging now represents 60% of sales, with leading positions in consumer board, liquid packaging, and container board.
Oulu mill ramp-up and De Jong acquisition provide significant new capacity and flexibility, supporting growth and margin improvement.
Product innovation and customer-centric development drive market share gains, with 16% of packaging sales from products launched in the last five years.
Invests in R&D and innovation, with over 3,200 applications and patents, and pilot facilities for packaging and biomaterials.
Focus on biobased innovations, including sustainable battery materials, biobased chemicals, and new fiber products.
How does the new structure improve integration?
Outline the roadmap for new financial targets.
What is the strategy for the new forest company?
How will ForestCo maximize value beyond wood sales?
Detail VCPs and CapEx strategy for EBIT growth.
How will plastic substitution drive packaging growth?
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Next Stora Enso earnings date
Q4 20254 Feb, 2026
Next Stora Enso earnings date
Q4 20254 Feb, 2026
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Frequently asked questions
Stora Enso Oyj provides renewable solutions in packaging, biomaterials, wood construction and paper globally. The company offers solid-wood products, wood components, wood-based products, paperboards, newsprint and magazine papers, lightweight coated papers, fine papers, consumer boards and industrial paperboards for use in the printing and packaging industries. It also designs and constructs turn-key biomass power plants for customers; growth medium for growing crops produced from by-products of forest and pulp industries; and various biomaterials consisting of lignocellulosic fibers from wood or other vegetable materials for use as replacements to plastics and fossil-based materials in applications including automotive interior parts such as door panels, center consoles or parcel shelves. The company was incorporated in 1996 and is headquartered in Helsinki, Finland.
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