Stora Enso will record non-cash impairments of approximately Euro 514 million in its IFRS operating result in the Q4 2023. The impairments will be reported as an item affecting comparability (IAC). Including the estimated positive tax effect of Euro 65 million, the net result impact will be approximately Euro 449 million negative.
The impairment charges are allocated between the segments as follows:
The fixed asset impairments in the Packaging Materials division mainly relate to the Business Unit Containerboard and in the Biomaterials division to the Nordic production units. The impairments are mainly a consequence of Stora Enso's predictions of a weaker outlook compared to previous estimates.
As a result of the impairment booking, the annual depreciation will decrease by approximately Euro 40 million going forward. The impairments do not impact Stora Enso’s full-year 2023 guidance.
Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world.
