Stora Enso Oyj R

Stora Enso is a provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Co.'s reporting segments are: Consumer Board, which develops and provides consumer packaging boards for printing and packaging applications; Packaging Solutions, which develops fibre-based packaging; Biomaterials, which provides a variety of pulp grades for paper, board, tissue, textile and hygiene product producers; Wood Products, which provides wood-based solutions for building and housing; Paper, which provides paper solutions for print media and office use; as well as Other, which includes Co.'s shareholding in the energy company, Pohjolan Voima.
  • TickerSTERV
  • ISINFI0009005961
  • ExchangeNasdaq Nordic Helsinki
  • SectorForestry & Paper
  • CountryFinland

Analysts

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Fast Comment - September pulp data: shipments +3% y-o-y

Global shipments +3% y-o-y, to China +15% y-o-y Inventories come down to 44 days of supply (48 in Aug) Pulp prices start to turn up (-30-40% from peak)

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jesper Ingildsen
  • Jimi Lehtonen
  • Jon Berggren
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Jimi Lehtonen

Stora Enso (Hold, TP: EUR12.50) - Swift recovery priced in

Q3 revenues fell short by 4% on further deterioration in paper, pulp and containerboard markets, causing every division to miss consensus due to prices, volumes or both. EBIT guidance for Q4 implies the worst quarterly results in over five years, driven by lower pulp and paper prices, and paper volumes. Having cut our 2020–2021 EBIT forecasts by 11–13%, we have cut our target price to EUR12.5 (13.5) and downgraded to HOLD (BUY).

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 30/10/2019 - Fiat Chrysler Automobiles (Achat) – Peugeot (Achat) - EN

Fiat Chrysler Automobiles (O/P) - Peugeot (O/P): Confirm Merger Talks Unicaja Banco: Tier 2 10NC5 Bond Issue Santander (O/P) - 9M-19:  Revenues of €37.0bn (+2.8%) Deutsche Bank (U/P) - 9M-19: Net Loss of €4.1bn (vs Net Profit of €455m A Year Earlier) Pirelli (O/P) - 9M-19: EBITDA of €979m (+7.8%) Fresenius (M/P) - 9M-19: EBITDA of €4.5bn (+2.7%) Atos (O/P): Completes The Sale of Worldline and €500m Convertible Issue Stora Enso (O/P) - 9M-19: EBIT of €841m (-20.2%)

Aksel Øverland Engebakken ...
  • Bengt Jonassen
  • Casper Blom
  • Erik Moberg
  • Haakon Amundsen
  • Mads Thinggaard
  • Martin Melbye
  • Morten Raunholt Eismark
  • Patrik Brattelius

Talking Points - Orsted (Hold): Turning winds?

Multiconsult (Hold) Preview: Q3 not exciting, but CMD could be Lower load factor assumptions drive down estimates Target down to DKK 590 (620); reiterate HOLD

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 30/10/2019 - Fiat Chrysler Automobiles (Achat) – Peugeot (Achat) - EN

Fiat Chrysler Automobiles (O/P) - Peugeot (O/P): Confirm Merger Talks Unicaja Banco: Tier 2 10NC5 Bond Issue Santander (O/P) - 9M-19:  Revenues of €37.0bn (+2.8%) Deutsche Bank (U/P) - 9M-19: Net Loss of €4.1bn (vs Net Profit of €455m A Year Earlier) Pirelli (O/P) - 9M-19: EBITDA of €979m (+7.8%) Fresenius (M/P) - 9M-19: EBITDA of €4.5bn (+2.7%) Atos (O/P): Completes The Sale of Worldline and €500m Convertible Issue Stora Enso (O/P) - 9M-19: EBIT of €841m (-20.2%)

Joan Sehim

STORA ENSO- 2Q18 Comments

Stora Enso, the Finish paper and packaging producer, has released good 2Q18 results with sales of €2,664m, up 5% yoy (+9% at constant currency and perimeter), and operational EBIT of €327m (12.3% margin) against €219m (8.7%) last year. The primary driver has been further increase in prices (+9% at the group level), reflecting both a tight supply and higher raw materials costs.

Joan Sehim

Stora Enso 1Q17 - Back to growth with reshaping plan, flattish 2Q17 expected

Stora Enso, the Finnish papermaker, reported solid 1Q17 results. For the first time in years, yoy sales grew +2% to €2.5bn, including +4% from volume and -2% from change in perimeter...

Stora Enso Oyj - December 2016 (LTM): Peer Snapshot

Peer Snapshot: Stora Enso Oyj - December 2016 (LTM) 28 March 2017 (in US millions) FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Sep-15 FYE Sep-16 LTM Dec-16

Martin Melbye ...
  • Øystein Elton Lodgaard

Sector Fast Comment - September pulp data: shipments +3% y-o-y

Global shipments +3% y-o-y, to China +15% y-o-y Inventories come down to 44 days of supply (48 in Aug) Pulp prices start to turn up (-30-40% from peak)

Jimi Lehtonen

Stora Enso (Hold, TP: EUR12.50) - Swift recovery priced in

Q3 revenues fell short by 4% on further deterioration in paper, pulp and containerboard markets, causing every division to miss consensus due to prices, volumes or both. EBIT guidance for Q4 implies the worst quarterly results in over five years, driven by lower pulp and paper prices, and paper volumes. Having cut our 2020–2021 EBIT forecasts by 11–13%, we have cut our target price to EUR12.5 (13.5) and downgraded to HOLD (BUY).

Aksel Øverland Engebakken ...
  • Bengt Jonassen
  • Casper Blom
  • Erik Moberg
  • Haakon Amundsen
  • Mads Thinggaard
  • Martin Melbye
  • Morten Raunholt Eismark
  • Patrik Brattelius

Talking Points - Orsted (Hold): Turning winds?

Multiconsult (Hold) Preview: Q3 not exciting, but CMD could be Lower load factor assumptions drive down estimates Target down to DKK 590 (620); reiterate HOLD

Martin Melbye ...
  • Øystein Elton Lodgaard

Stora Enso - Pulp is low – Forest value is high

Clean Q3 EBIT in line – Q4 guidance was very weak Paper follows Pulp – leading indicator inches up Valuation support from forest assets

Martin Melbye ...
  • Øystein Elton Lodgaard

Stora Enso - Q3 ok - Q4 guidance very weak

Q3 clean EBIT in-line, reported is weaker Pulp weaker, Paper better - lower volumes and prices Q4 guidance very weak – lower realised pulp prices

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jesper Ingildsen
  • Jimi Lehtonen
  • Jon Berggren
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christer Magnergård ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Jimi Lehtonen ...
  • Jon Masdal
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
  • Patrik Ling
  • Tomi Railo

Northern Lights

Jimi Lehtonen ...
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Thanks to a better fundamental star rating, STORA ENSO OYJ sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to STORA ENSO OYJ (FI), active in the Paper industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date September 13, 2019, the closing price was EUR 11.64 and its expected value was estimated at EUR 10.13.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

Metsa Board Corporation - Strategy, SWOT and Corporate Finance Report

Summary Metsa Board Corporation - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights Metsa Board Corporation (Metsa) is a manufacturer of fiber paperboard and paper products. The company’s businesses include cartonboard, linerboard, and paper. It offers high-performance fresh forest fiber-based cartonboards, graphic boards, linerboards and related services. Metsa also...

MarketLine Department

Mayr-Melnhof Karton AG - Strategy, SWOT and Corporate Finance Report

Summary Mayr-Melnhof Karton AG - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights Mayr-Melnhof Karton AG (Mayr-Melnhof) is a manufacturer and supplier of recycled fiber-based carton boards, and virgin fiber-based carton boards. The company’s product portfolio includes solid board, multipack, microflute, flexible packaging products, instruction leaflet and paper prod...

MarketLine Department

Smurfit Kappa Group plc - Strategy, SWOT and Corporate Finance Report

Summary Smurfit Kappa Group plc - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights Smurfit Kappa Group plc (Smurfit) is a provider of paper packaging solutions. It manufactures, distributes and markets corrugated containers, container boards and other paper based packaging products. The company’s product offerings include graphic and solid boards, paper bags, protec...

MarketLine Department

Huhtamaki Oyj - Strategy, SWOT and Corporate Finance Report

Summary Huhtamaki Oyj - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights Huhtamaki Oyj (Huhtamaki) is a provider of packaging solutions. The company manufactures paper, plastic, film and molded fiber-based packaging products. Its offers cups, containers, barrier sheets, cans, bowls, lids, laminates, films, preformed bags, egg trays, vegetable trays, boxes and carton...

MarketLine Department

Domtar Corporation - Strategy, SWOT and Corporate Finance Report

Summary Domtar Corporation - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Domtar Corporation (Domtar or ‘the company') is a manufacturer, marketer and distributor of fiber-based products, including specialty and packaging papers, communication papers and absorbent hygiene products. The company also designs and manufactures paper grade, fluff specialty pulp, inc...

Stora Enso – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Stora- Enso,, March 14 2019

In general, Stora Enso is in compliance with the Finnish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 10, the shareholders nomination board proposes to increase the remuneration of the board of directors by somewhere between 3% and 10%. As ECGS considers the current fees of the board of directors already at the upper level of Finnish market practice for a company with the size and complexity of Stora Enso, it does not approve of any increases without adequate justification. Since the proposal is not adequately justified (i.e. not motivated ...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 27/04/2017

In general, Stora Enso is in compliance with the Finnish regulations relating the organisation and procedures of the Annual General Meeting.We recommend to vote in favour of all proposals.

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