Nordic forest products giant Stora Enso has issued a more positive business and profits update.
The company is now estimating that EBIT guidance to be significantly higher (+50% and above) than the full year 2023 of €342m. The previous guidance for the full year 2024 was the adjusted EBIT to be higher (more than +15%, but less than +50%) than full year 2023.
In the outlook comment in its Q1 2024 report, published in April, Stora Enso stated that it anticipates a gradual recovery in market conditions in 2024, with increased demand for consumer board, higher pulp demand and prices. These market trends are continuing with improved volume and pricing.
The Group says its profit improvement actions are becoming visible in the result development.
The improved outlook relates to consumer board, containerboard and pulp. Challenging market conditions still continue in the Wood Products and Packaging Solutions divisions.
Stora Enso will publish its half-year report for January–June 2024 on July 24.
