Stora Enso has said its third-quarter operating profits will suffer a €550m hit from non-recurring items.

Non-cash impairment charges to the company’s wood products division total €106m. A positive tax impact of €111m will be recorded by the group in the results.

Stora Enso’s operating profits have been higher this year, with the wood products division achieving €59.3m during the second quarter, up from €15m a year before.