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

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.

Jimi Lehtonen

Stora Enso (Buy, TP: EUR11.50) - Near-term weakness

The Q2 report was on the soft side, with sales and EBIT missing consensus by 2% and 7%, respectively, and the Q3 guidance implying downside to consensus. A key positive was the strong progress of the cost-cutting initiatives, and EUR80m expansion in the scope of the programme. While the near-term outlook is challenging, Consumer Board showed solid margin progress, and renewals of liquid packaging board contracts should bring further gains from the beginning of 2020. We reiterate our BUY but have trimmed our target price to EUR11.5 (12).

Rob Hales

Morningstar | Dark Clouds Continue to Form Over Stora Enso in 2Q; Shares Fairly Valued

No-moat Stora Enso reported second-quarter EBIT of EUR 287 million, down 12% over 2018 and below consensus. Declining profits look set to accelerate as third-quarter guidance is particularly gloomy. Third-quarter EBIT is expected to be in the range of EUR 200 million-EUR 280 million, indicating a 12%-37% decline over 2018 with the wide range revealing the uncertainty in the current environment. Further, the company has abandoned its 2019 guidance for higher sales over 2018, which the company blames on trade wars and a possible hard Brexit. We have been bearish on Stora for some time, evidenced...

Rob Hales

Dark Clouds Continue to Form Over Stora Enso in 2Q; Shares Fairly Valued

No-moat Stora Enso reported second-quarter EBIT of EUR 287 million, down 12% over 2018 and below consensus. Declining profits look set to accelerate as third-quarter guidance is particularly gloomy. Third-quarter EBIT is expected to be in the range of EUR 200 million-EUR 280 million, indicating a 12%-37% decline over 2018 with the wide range revealing the uncertainty in the current environment. Further, the company has abandoned its 2019 guidance for higher sales over 2018, which the company bla...

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

Northern Lights

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

Jimi Lehtonen

Stora Enso (Buy, TP: EUR11.50) - Near-term weakness

The Q2 report was on the soft side, with sales and EBIT missing consensus by 2% and 7%, respectively, and the Q3 guidance implying downside to consensus. A key positive was the strong progress of the cost-cutting initiatives, and EUR80m expansion in the scope of the programme. While the near-term outlook is challenging, Consumer Board showed solid margin progress, and renewals of liquid packaging board contracts should bring further gains from the beginning of 2020. We reiterate our BUY but have trimmed our target price to EUR11.5 (12).

Rob Hales

Morningstar | Dark Clouds Continue to Form Over Stora Enso in 2Q; Shares Fairly Valued

No-moat Stora Enso reported second-quarter EBIT of EUR 287 million, down 12% over 2018 and below consensus. Declining profits look set to accelerate as third-quarter guidance is particularly gloomy. Third-quarter EBIT is expected to be in the range of EUR 200 million-EUR 280 million, indicating a 12%-37% decline over 2018 with the wide range revealing the uncertainty in the current environment. Further, the company has abandoned its 2019 guidance for higher sales over 2018, which the company blames on trade wars and a possible hard Brexit. We have been bearish on Stora for some time, evidenced...

Rob Hales

Dark Clouds Continue to Form Over Stora Enso in 2Q; Shares Fairly Valued

No-moat Stora Enso reported second-quarter EBIT of EUR 287 million, down 12% over 2018 and below consensus. Declining profits look set to accelerate as third-quarter guidance is particularly gloomy. Third-quarter EBIT is expected to be in the range of EUR 200 million-EUR 280 million, indicating a 12%-37% decline over 2018 with the wide range revealing the uncertainty in the current environment. Further, the company has abandoned its 2019 guidance for higher sales over 2018, which the company bla...

Jimi Lehtonen

Stora Enso (Buy, TP: EUR12.00) - Back to growth in 2020e

We expect Stora Enso’s Q2 results (due 19 July at 08.30 CET) to reflect the weakened near-term earnings outlook for containerboard and pulp, and we have cut our 2019–2021 EBIT forecasts by 7–10%. We do not materially differ from consensus on Q2 or 2019, but see a return to growth from 2020e onwards on the back of: 1) a Consumer Board recovery, and 2) Oulu conversion thereafter. Following our estimate cuts, we have cut our target price to EUR12 (13), and reiterate our BUY given our above-consensus EBIT forecasts for 2020–2021e and undemanding valuation.

STORA ENSO - Measures and curtailment of deliveries

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...

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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...

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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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