Stora Enso reports uplift in timber division results6 February 2014
Stora Enso’s Building and Living division has reported a dramatic turnaround in its fortunes, with annual profits soaring 95% to €115m.
The division, which includes sawn timber, TR26, CLT, joinery timber, engineered wood components and wood pellets, also said its earnings before interest, tax, depreciation and amortisation (EBITDA) for the fourth quarter of 2013 nearly doubled to €30m.
Full-year deliveries amounted to 4.77 million m3, up slightly on 2012, while sales also increased to €1.86bn. Stora Enso said slightly lower sales prices were more than offset by lower log prices in the Nordic countries, higher by-product income in central Europe, lower fixed costs and higher volumes in all businesses.
Demand in the fourth quarter was described as significantly stronger than a year earlier.