Stora Enso’s non-recurring items in second quarter 2012

Stora Enso Oyj 

13.07.2012 08:00

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Helsinki, Finland, 2012-07-13 08:00 CEST (GLOBE NEWSWIRE) -- STORA ENSO OYJ
STOCK EXCHANGE RELEASE 13 July 2012 at 9.00 EET 

Stora Enso will record non-recurring items (NRI) with a positive net impact of
approximately EUR 45 million on operating profit and a positive impact of
approximately EUR 10 million on financial items in its second quarter 2012
results. The NRI will increase earnings per share by EUR 0.07. 

The NRI are:

  -- a NRI with approximately EUR 41 million positive impact on operating profit
     due to a tax-free dividend from Pohjolan Voima (PVO);
  -- a NRI with approximately EUR 21 million positive impact on operating profit
     due to a release of valuation allowance on value added tax for Arapoti Mill
     in Brazil;
  -- a NRI with approximately EUR 9 million negative impact on operating profit
     due to an adjustment related to an equity accounted investment;
  -- a NRI with approximately EUR 8 million negative impact on operating profit
     due to restructuring plans in the Printing and Reading Business Area to
     continue improving efficiency. These restructuring plans, which have
     already been notified locally, concern Arapoti Mill in Brazil, Corbehem
     Mill in France, Hylte Mill and Kvarnsveden Mill in Sweden, and the wood
     supply organisation in Western Europe.It is estimated that the
     restructuring measures would reduce Stora Enso Printing and Reading's
     annual costs by approximately EUR 6 million, with the full impact achieved
     from the beginning of the first quarter of 2013 onwards;
  -- a NRI with approximately EUR 10 million positive impact on financial items
     due to reversal of a provision relating to the NewPage Stevens Point Mill
     paper machine lease that Stora Enso recorded in the third quarter of 2011.

Allocation of NRI* at operating profit level between segments



Segment               EUR million
---------------------------------
Printing and Reading           13
---------------------------------
Other                          32
---------------------------------
Total                          45
---------------------------------


*NRI = Non-recurring items. These are exceptional transactions that are not
related to normal business operations. The most common non-recurring items are
capital gains, additional write-downs, or reversals of write-downs, provisions
for planned restructuring and penalties. Non-recurring items are normally
specified individually if they exceed one cent per share. 

Stora Enso will publish its second quarter 2012 results on 20 July 2012 at
13.00 EET (12.00 CET). 

For further information, please contact:

Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242

www.storaenso.com
www.storaenso.com/investors

Stora Enso is the global rethinker of the paper, biomaterials, wood product and
packaging industry. We always rethink the old and expand to the new to offer
our customers innovative solutions based on renewable materials. Stora Enso
employs some 30 000 people worldwide, and our sales in 2011 amounted to EUR
11.0 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV,
STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the
USA as ADRs (SEOAY) in the International OTCQX over-the-counter market. 





STORA ENSO OYJ
News Source: NASDAQ OMX



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Language:     English
Company:      Stora Enso Oyj
              
               
              Finland
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         FI0009005961
WKN:          
 
End of Announcement                             DGAP News-Service
 
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