PR Newswire
HELSINKI, Feb. 4, 2026
STORA ENSO OYJ FINANCIAL STATEMENTS RELEASE 4 February 2026 at 8:30 EET
HELSINKI, Feb. 4, 2026 /PRNewswire/ —
Q4/2025 (year-on-year)
- Sales decreased by 3% to EUR 2,254 (2,322) million, mainly due to lower board and pulp prices, partly offset by the impact from acquisition of Junnikkala and the consumer board line ramp-up at the Oulu site.
- Adjusted EBIT decreased by 17% to EUR 100 (121) million, driven by lower pulp prices and adverse currency effects, as well as the ramp-up of the new line in Oulu, which impacted the Q4 result negatively by EUR 31 million. The adjusted EBIT margin decreased to 4.5% (5.2%).
- Operating result (IFRS) was EUR 476 (-279) million, including items affecting comparability of EUR -90 (-768) million, and fair valuations and other non-operational items of EUR 466 (368) million mainly driven by an increase in the fair value of biological assets in Sweden and Finland.
- Earnings per share were EUR 0.46 (-0.43) and earnings per share excl. fair valuations (FV) were EUR -0.03 (-0.81).
- The fair value of the forest assets was EUR 8.5 (8.9) billion, equivalent to EUR 10.75 per share, reflecting the impact of the divestment of 12.4% of forest assets in Sweden.
- Cash flow from operations amounted to EUR 337 (325) million, positively impacted by improvement in working capital.
- The net debt to adjusted EBITDA (LTM) ratio improved to 2.8 (3.0).
- Adjusted ROCE excluding the Forest segment (LTM) was 2.7% (3.6%).
Year 2025 (year-on-year)
- Sales were EUR 9,326 (9,049) million.
- Adjusted EBIT was EUR 528 (598) million.
- Operating result (IFRS) was EUR 942 (93) million.
- Earnings per share (EPS) were EUR 0.88 (-0.17) and EPS excl. fair valuations (FV) was EUR 0.41 (-0.56).
- Cash flow from operations amounted to EUR 897 (1,187) million. Cash flow after investing activities was EUR 122 (74) million.
Proposed dividend
The Board of Directors will propose a dividend of EUR 0.25 (EUR 0.25) per share at the Annual General Meeting on 24 March 2026. The Board of Directors proposes that the dividend be paid in two instalments, during the second and fourth quarter of 2026.
Key highlights
- Stora Enso is preparing for the separation of its Swedish forest assets business into a new publicly listed company, expected to be completed during the first half of 2027.
- Stora Enso initiated a strategic review of its Central European sawmills and building solutions operations. Different scenarios will be assessed, including the possibility to divest the business, to strengthen Stora Enso’s strategic focus on renewable materials and packaging.
- The ramp-up of the consumer board line at the Oulu site in Finland continues, and the production volumes are gradually increasing. The line is expected to reach full capacity during 2027.
- Stora Enso has been recognised for its continued leadership in corporate transparency and climate action, earning a place on the 2025 CDP Climate Change `A List’.
- Stora Enso will change its financial targets and reporting structure starting from 2026, as presented in the Capital Markets Day in November.
Outlook Q1/2026
- Markets remain challenging, with low consumer confidence. Geopolitical volatility results in decreased predictability.
- Packaging and pulp market demand is expected to remain stable at low levels.
- The ramp-up of the new production line in Oulu continues. The EBIT headwind is expected to gradually decrease as we improve the technical performance of the production line. In Q1, we expect a negative impact of EUR 15-30 million on adjusted EBIT.
- The divestment of 175,000 hectares of forest assets in Sweden, completed in 2025, will result in a reduction of annual adjusted EBIT of approximately EUR 20 million, with an estimated quarterly effect of approximately EUR 5 million.
- In the first quarter there will be less planned maintenance activities compared to the fourth quarter of 2025. See the section Maintenance for more details.
- The operating income from emission rights in 2025 was about EUR 72 million, distributed evenly throughout the year. For 2026, the income from the sale of emission rights is projected to decrease to EUR 10-20 million. This decline results from changes in the EU ETS (Emissions Trading Scheme) rules: several sites will lose their free CO₂ allowance allocations from 2026 onward, as their emissions are now more than 95% biogenic, demonstrating the success of long-term emission-reduction initiatives.
- In the first quarter of 2026 we will introduce a revised reporting structure, as presented in the Capital Markets Day (CMD) in November 2025. The packaging business areas will be consolidated into Consumer Packaging and Integrated Packaging segments. In addition, we will report Biomaterials and Other.
Focus for 2026
- During 2026 we will execute on the new strategic priorities introduced at the CMD in November 2025:
- Lead in customer value creation through innovation, quality and sustainability
- Grow faster than market with superior customer offering, leading technology and operational efficiency
- Expand margin through business focus, a positive performance culture and systematic value creation
- Generate cash with high conversion ratio and disciplined capital allocation
- Furthermore, we will continue to prepare for the separation of the Swedish forest assets business into a new publicly listed company, expected to be completed during the first half of 2027.
- We will also continue with the strategic review of Central European sawmills and building solutions operations. Different scenarios will be assessed, including the possibility to divest the business, to strengthen Stora Enso’s strategic focus on renewable materials and packaging.
- Finally, we will continue with the ramp-up of the consumer board line at the Oulu site in Finland. The line is expected to reach full capacity during 2027.
Key figures
EUR million Q4/25 Q4/24 Change % Q3/25 2025 2024
Q4/25-Q4/24
Sales 2,254 2,322 -2.9 % 2,283 9,326 9,049
Adjusted EBITDA 255 285 -10.7 % 291 1,144 1,223
Adjusted EBIT 100 121 -16.7 % 126 528 598
Adjusted EBIT margin 4.5 % 5.2 % 5.5 % 5.7 % 6.6 %
Operating result (IFRS) 476 -279 270.6 % 231 942 93
Result before tax (IFRS) 430 -353 221.7 % 202 783 -118
Net result for the period (IFRS) 363 -379 195.9 % 201 686 -183
Forest assets(1) 8,478 8,894 -4.7 % 8,277 8,478 8,894
Adjusted return on capital employed (ROCE), LTM(2) 3.8 % 4.3 % 3.9 % 3.8 % 4.3 %
Adjusted ROCE excl. Forest segment, LTM(2) 2.7 % 3.6 % 2.8 % 2.7 % 3.6 %
Earnings per share (EPS) excl. FV, EUR -0.03 -0.81 96.8 % 0.26 0.41 -0.56
EPS (basic), EUR 0.46 -0.43 206.1 % 0.25 0.88 -0.17
Net debt to LTM(2) adjusted EBITDA ratio 2.8 3.0 2.7 2.8 3.0
Average number of employees (FTE) 18,631 18,731 -0.5 % 19,409 18,877 19,233
1 Total forest assets value, including leased land and Stora Enso’s share of forest assets in associated companies
2 LTM=Last 12 months
Stora Enso’s President and CEO Hans Sohlström comments on the results:
2025 was a pivotal year for Stora Enso, marked by decisive actions to sharpen our strategic focus and unlock long-term value for our stakeholders. In the fourth quarter, we reached a significant milestone by completing the strategic review of our Swedish forest assets.
We are separating our Swedish forest assets to unlock value creating two champions with distinctive business dynamics and return profiles: A globally leading renewable materials company with sharpened focus on packaging, and Europe’s largest listed pure-play forest company.
Also, we initiated a strategic review of our Central European sawmills and building solutions operations to further sharpen our business focus reflecting our commitment to active portfolio management and ensuring that all our operations are aligned with our long-term value creation goals.
During the quarter, we also hosted a successful Capital Markets Day (CMD), where we introduced new financial targets, strategic priorities, and a clear roadmap for the coming years.
Our strategy positions us as a global leader in renewable materials, with an increasing focus on packaging. We are committed to cost efficiency, profitable growth, expanding margins through systematic profit improvement actions, and generating strong cash flow with disciplined capital allocation.
We also introduced a new reporting structure where packaging business areas will be regrouped into Consumer Packaging and Integrated Packaging, alongside Biomaterials and Other. The new reporting segments will be applicable starting in the first quarter of 2026.
Despite a challenging macroeconomic and market environment, Stora Enso delivered resilient results. Group sales for the year were EUR 9.3 billion, with adjusted EBIT of EUR 528 million. Underlying performance improved across all business areas except Biomaterials, which was impacted by lower pulp prices. The ramp-up of the new line at Oulu had an adverse impact on the results. Our net debt to adjusted EBITDA ratio improved to 2.8, reflecting the positive impact of the Swedish forest asset divestment of approximately 175,000 hectares of forest land in Sweden, at a value of EUR 900 million, and our ongoing focus on cash flow and cost competitiveness.
Operationally, we progressed in ramping up the new consumer board line at Oulu, which is central to our strategic focus on renewable packaging. While the ramp-up weighed on profitability in the short term, we remain confident in the long-term value and industry-leading quality this investment will deliver. The acquisition of Junnikkala Oy further strengthened our wood supply chain and supports the competitiveness of our Oulu site.
Our ongoing cost and efficiency actions, combined with a leaner and more business-focused organisational structure with six P&L responsible business areas including the new business area Wood and Energy, and 23 P&L responsible business units, have positioned us well to navigate continued market volatility.
For the second consecutive year, Stora Enso has been included on CDP’s Climate Change `A List’, highlighting our strong transparency and performance in climate action. This recognition affirms our dedication to sustainable growth through emission reduction, renewable material innovation, and advancing the circular bioeconomy.
Additionally, in partnership with the International Union for Conservation of Nature (IUCN), we completed a pioneering project that offers the forest sector a science-based framework for achieving net-positive biodiversity impact. This collaboration helps forestry operations focus on the most effective actions to reduce species extinction risk while maintaining long-term economic value.
By the end of 2025, we cut Scope 1 and 2 emissions by 61% and Scope 3 emissions by 38% from 2019 levels, surpassing our 2030 target. Additionally, 94% of our products are technically recyclable, and we maintain 99% forest certification coverage.
As we enter 2026, we expect market conditions to remain subdued and volatile, shaped by ongoing macroeconomic and geopolitical uncertainty. We will continue to execute our strategy and drive proactive, systematic, and determined work across the whole Group.
Our strategic priorities, as set forth in our CMD, are clear: We want to lead in customer value creation, grow our business, expand margins, and generate strong cash flow over the cycle. We will achieve this through our continued actions in sourcing, operational efficiency, commercial excellence, working capital, and fixed costs, while maintaining a disciplined approach to capital allocation.
Customer centricity is now at the forefront of our strategy, driving us to pursue innovation, quality, and sustainability across all aspects of our operations. By delivering superior customer offering and leveraging advanced technologies, we are dedicated to setting new industry standards for excellence.
The demerger and listing of our Swedish forest assets will be a key focus, as will the ongoing strategic review of our Central European wood products business and ramping up the new production line in Oulu, Finland.
At the core of everything we do is people – our customers, employees, shareholders and partners. I want to thank you all for the dedication and resilience during this transformative year. Together, we are building a stronger, more focused, and more sustainable Stora Enso.
Webcast for analysts, investors, and media
Stora Enso’s President and CEO Hans Sohlström and CFO Niclas Rosenlew will present the results in a webcast today starting at 11:00 am EET (10:00 CET, 9:00 BST, 4:00 EDT). The live the webcast can be accessed using the following link: https://stora-enso-oyj-results-for-full-year-and-q4-2025.open-exchange.net/
During the webcast presentation, analysts and investors will also have the possibility to ask questions. To participate in the teleconference, please choose the «Teleconference» option on the homepage of the webcast.
Recording of the webcast will be available shortly after the event at the same address and at storaenso.com/en/investors/interim-report.
Media representatives who wish to ask questions after the publication of the report may contact Hanna Rutanen, SVP Communications at Stora Enso on +358 41 507 1361
This release is a summary of Stora Enso’s Financial Statements Release 2025. The complete report is attached to this release as a pdf file, and it is also available on the company website at storaenso.com/en/investors/interim-report.
Media enquiries:
Hanna RutanenSVP Communicationstel. +358 41 507 1361
Investor enquiries:
Jutta MikkolaSVP Investor Relationstel. +358 50 544 6061
Stora Enso is a global leader in renewable materials with a strong focus on packaging. Our purpose is to replace non-renewable materials with renewable solutions. Together with our customers, we design and deliver competitive, high-quality packaging materials and solutions, made from fresh and recycled fibers, accelerating the transition to a circular bioeconomy. Stora Enso has approximately 19,000 employees and our sales in 2025 were EUR 9.3 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA on OTC Markets (OTCQX) as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors
STORA ENSO OYJ
Media enquiries:
Hanna RutanenSVP Communicationstel. +358 41 507 1361
Investor enquiries:
Jutta MikkolaSVP Investor Relationstel. +358 50 544 6061
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/stora-enso-oyj/r/stora-enso-financial-statements-release-2025–sharpened-strategic-focus,c4302195
The following files are available for download:
https://mb.cision.com/Public/13589/4302195/a66498085a29e49d.pdf STORAENSO RESULTS Q425 ENG
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View original content:https://www.prnewswire.co.uk/news-releases/stora-enso-financial-statements-release-2025-sharpened-strategic-focus-302678638.html
Tengo varias preguntas sobre esto a ver si me podiais aclarar:
-¿Puedo hacer un ingreso regular de 800 euros y me cobran 0euos de comisiones y mto.?
-¿Puedo sacar el dinero cuando quiera?,¿todo ó tengo entendido que hay que mantener un mínimo de 100 euros los 30 meses?
-No necesito pero me obligan a sacar una tarjeta de débito que me cuesta 11 euros el primer año y 22 euros la renovación, también otra de credito que me cuesta 0 euros el primer año y 35 euros la renovación.
¿Hay que mantenerlas 13 meses?
¿Puedo cancelar alguna de ellas desde el principio?
¿Puedo cancelar alguna de ellas antes de la renovación?
¿Hay alguna tarjeta de credito más barata?
Aparte de la cuenta nómina he visto que también que para que te den la tv también se puede sacar una cuenta tarifa plana básica o personal, ¿sabeis algo de estas cuentas?¿que requisitos tienen?
Muchas gracias a todos por responder
Yo fui a informarme y te cuento. Únicamente admiten los ingresos regulares en el caso de que seas autónomo. Te abren una cuenta Tarifa Plana Cero que está exenta de comisiones y presenta alguna ventaja más. Sobre dejar un mínimo de saldo en la cuenta no es necesario, pero sí te obligan a mantener varias tarjetas durante los 30 meses con un coste aproximado de 100 euros anuales.
hola buenas!
me llamo javi y estoy dudando de que banco, me puede dar mas beficios, sin sorpresas por domiciliar la nomina, ya que llevo años en la caixa y no me da nada ningun beneficio. es mas me rechazan los prestamos que solicito, ni siquiera una targeta de credito, por alegan de que siempre esta a cero la cuenta, yo cuando cobro la nomina dejo el dinero para los pagos, y saco el resto, pues no me fio, de que un dia me quede sin dinero, ya que esta todo muy mal, corre riesgo mi dinero o mis ahorros en el banco?? muchas gracias y un cordial saludo.
javi
NO TE EXTRAÑE QUE NO TE DEN LOS PTMOS, PORQUE LO QUE VEN ES QUE NO TIENES CAPACIDAD DE AHORRO PORQUE SIEMPRE DEJAS LA CTA. EN MINIMOS, ASI NINGUN BANCO TE LO VA A CONCEDER. TAMBIEN ES VERDAD QUE LA CAIXA, COMO TANTAS OTRAS CAJAS, TIENE EL PUÑO CERRADO PARA LOS RIESGOS, PARA REMONTAR. NO TE PREOCUPES, QUE POR UNA NOMINA NO CREO QUE NINGUN BANCO SE COJA LAS MANOS. LOS QUE SE TIENEN QUE PREOCUPAR SON LOS QUE TIENEN DÉPÓSITOS Y FONDOS EN BANCOS DE DUDOSA ACTIVIDAD. LA GENTE SE PIENSA QUE PORQUE LES DEN UN 7% YA ES UN GRAN BANCO Y SE EQUIVOCAN. LO QUE LES PASA ES QUE EL BANCO DE ESPAÑA LES PRESTA EL DINERO MAS CARO Y POR ESO OPTAN POR CONSEGUIRLO EN EL MERCADO MONETARIO, Y SI EL BANCO DE ESPAÑA NO SE FIA DE ELLOS, VA Y SE FIA LA GENTE. QUE LOS BANCOS NOES LA ADMON PUBLICA, ABRAN OS OJOS.
Hola , cuando vallais al banco queos dejen lo que hay que pagar de irpf y de iva sobre el valor de la tele ya que en la mayoria de bancos esto no lo dicen y luego llagan las sorpresas .A mi ya me ha pasado con la promoción del portatil y nunca me hablaros de esto . Cuidado
Yo he estado calculando y la tele entre unas cosas y otras te sale sobre unos 250euros que tampoco regalan tanto .Hay oficinas en las que han dado la occión de poner un dinero a plazo fijo a 12meses de 9300euros o 6800euros a 18 meses.
No es ningún chollo. Te obligan a contratar dos tarjetas de crédito que tienes que pagar porque las tienes que mantener 13 meses por lo menos y además llevan unos costes desproporcionados si las utilizas. En total, no usando las tarjetas y anulándolas una vez cumplidos los 13 meses puedes ahorrar unos 38 euros con respecto al precio de ese televisor en una gran superficie. Y además luego vendrá que te cobran para hacienda la retención correspondiente, por lo que probablemente incluso en las mejores condiciones te cueste más que si ahorras un poco y lña compras directamente.
Creó que teneis toda la razón, que aqui no te regalan nada, ya que a mí me paso con unas sartenes que regalaban el banco bilbao, que al final entre el irpf y el descuento de Hacienda, al final me salieron caras, así es que no os tomen el pelo, que al final siempre esta la letra pequeña que es la que nos joroba, por no decir otra cosa.
Yo saque el portatil y ahora me he sacado la TV LCD 32. Estas promos no hay que declararlas. No es obligado domiciliar nomina. Si, meter en la cuenta 800€ todos los meses en un margen de 10 dias. Cero matacero, pero cero,cero, cero de gastos de mantenimiento, ni por recibos, ni por el correo a casa, ni por transfer. Las tarjets gratis el 1er año. Resto fuera. Dadas de baja Menos la de debito. Banesto no pierde nada, ganar, gana clientes que es el proposito de esta promo. Precio de portatil y tv 32 en mercao unos 900€ los 2. En banest 197€. Los hay mejores, nos ha jodio! portatiles a 1200€, TV LCD 32 a 1000€. Señores, son lentejas. Relacion calida-precio-promo es cojonud…….Un saludit a los viandantes.
hola , no se si llegara mi comentario pero os voi a esplicar. esto es el cuento de la abuela. mira yo tengo el portatil. y he cogio tab la tele, pero sabeis ke?, me ha pasado de todo. os esplico. primero me cobran 74 euros y 25 euros de unas tarjetas que yo no las he visto aparecer por mi casa , me cabreo con el banco. llamo y pido esplicaciones. me dicen que van en la promocion, nunca jamas nadie me informo de las tarjetas, no me devuelven el dinero. me cabreo y me dicen que llame aun numero de tefono para darlas de baja, se pasan los dias, intentamos darlas de baja. largas y larga, que si este numero de tefono que si el otro bla bla bla. conseguimos hablar y nos dicen que tenemos que cambiar el contrato a tarifa plana o no se ke historias, llamando al banco se pasan los dias, largas y largas. me cabreo y estoi por suspender todo, me dicen que si lo quiero cambiar y dar de baja las tarjetas que nunca he tenido. tengo que pagar comisiones cada seis meses de doce y pico euros, y que si no quiero que me cobren comisiones tengo que ir todos los meses al banco a hacerlo yo, ufffffffffff.aun hay mas. me dan de baja y me hacen la tarifa plana, se equivocan un monton de veces. me hacen pasar muchos cabreos.y al final cuando llego a casa me han cobrado 25, 50 euros. y llamo por telefono y se lo digo , me dicen claro por dar de baja la otra cuenta , la madre que los pario. ladrones. o sea os digo que la tele no sale regalada, se la cobran y muy bien cobrada , nadie da nada por nada. en cuento termine de pagar lo que debo quito todas las cuentas del banesto.espero que alguien me lea y que me conteste gracias .
Banesto ha jodido a mi marido y a un amigo tambien. Para mi, despues de Banco de Andalucía son los peores. Y quieran creerlo o no ni la television ni el portátil te lo regalan.. como no cumplas cualquiera de las reglas te sancionan con 300 y pico de euros.. porque nos hemos mudado de casa y los recibos domiciados se cortaron «temporalmente» la sancion fue de mas de 300 euros.. y el cabreo q te llevas cuando ves lo q te han descontado y luego para ir a reclamarlos.. y como te tratan !! en fin.. espero que Banesto sea lo primero en undirse en el fin del mundo!!
CHOLLO!!!!!!!!!JAJAJAJAJA…….NO ES NINGUN CHOLLO!!!!!!! te cobran 100 € de gastos de manipulacion, mas 150 € en tarjetas durante 2 años, mas 6 € mensuales de mantenimiento de cuenta durante 30 meses, total que pagas 630 Euros por un ordenador o una TV que su valor seguro que no llega a 500 €. Y encima si vas a cancelar la cuenta cuando cumples los 30 meses requeridos te hacen esperar dos horas para decirte que no tienen linea de telefono para dar de baja la cuenta, cosa que no para nunca cuando vas a contratarlo. Y del trato que dispensan….., es el mismo que si vas con un fajo de billetes de 500 € por los CO-JONES
Banesto «premia», menuda falacia…
No hay ningún banco que premie a nadie.
BANESTO NECESITA NUESTRAS NÓMINAS, Y EN CUANTO VAS UN POCO JUSTO, COMO BUENOS JUDÍOS Y ÁVAROS QUE SON, TE ACOSAN Y MACHACAN, Y TE SACAN HASTA LAS ENTRAÑAS EN COMISIONES.
DESPUÉS EL ESTADO APOYA A LOS BANCOS, CON LA EXCUSA DE QUE SI CAEN LOS BANCOS CAEMOS TODOS. LOS BANCOS NECESITAN UN BOICOT DE VEZ EN CUANDO, PARA QUE NO NOS RESTREGUEN POR LA CARA SUS BENEFICIOS.
POR CIERTO, LO QUE MÁS FASTIDIA A UN BANCO ES UNA RECLAMACIÓN EN LA OFICINA DEL CONSUMIDOR Y OTRA AL BANCO DE ESPAÑA.
ES POR DAR PISTAS…