Stora Enso to record non-recurring items with negative net impact of approximately €23M on operating profit in Q3 results, related to restructuring provisions

Mathew Kearney

HELSINKI , October 9, 2013 (press release) – Stora Enso will record non-recurring items (NRI) with a negative net impact of approximately EUR 23 million on operating profit in its third quarter 2013 results. The NRI will have a positive impact on tax of EUR 3 million and decrease earnings per share by EUR 0.03.

The NRI are:

• a negative NRI of approximately EUR 45 million due to restructuring provisions related to the streamlining and structure simplification project announced on 23 April 2013, which is intended to achieve annual fixed cost savings of EUR 200 million, with the full impact starting from the second quarter of 2014. As disclosed on 18 June 2013 when the conclusion of the second phase of planning the streamlining and structure simplification project was announced, non-recurring items related to the project will be recorded mainly in the second and third quarters of 2013.
• a positive NRI of approximately EUR 22 million due to release of provisions recorded in previous periods in Printing and Reading.

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