According to Stora Enso Oyj half-year report, its sales decreased 2.1% y-o-y to EUR 2 608 million in 2Q of 2019. Operational EBIT declined 12% to EUR 287 million. The net debt to operational EBITDA ratio at increased 2.2 compared to 1.3 in last year.
Compared to 1Q, in 2Q of 2019 sales were similar, operational EBIT decreased 12.3% to EUR 610 million, mainly due to increased wood costs.
In Q3 of 2019 operational EBIT is expected to be in the range of EUR 200–280 million. During the third quarter, there will be annual maintenance shutdown at the Beihai, Imatra, Heinola, Ostrołęka, Enocell and Veitsiluoto mills.
«We continue our proactive portfolio management and evaluate expansion in Wood Products to respond to the renewable materials construction demand in line with the global megatrend of green building. Stora Enso has initiated a feasibility study for a possible cross laminated timber (CLT) unit with 120 000 m³ capacity in connection with our Ždírec sawmill in the Czech Republic and a new 60 000 m³ construction beam mill located at the Ybbs sawmill in Austria», — Stora Enso's CEO Karl-Henrik Sundström comments.
«We are also investing in bio-based carbon materials for energy storage in Biomaterials division at Sunila Mill in Finland. We are building a pilot facility for producing bio-based carbon materials based on lignin.»