Stora Enso Boosted EBIT Forecast, Driven by Strong Markets

SEATTLE (Scrap Monster): Stora Enso- a leading provider of renewable products in packaging, biomaterials, wooden construction and paper, announced that its full year 2022 operational EBIT guidance will be considerably higher than the full-year 2021 EBIT of EUR 1,528 million. The company had earlier guided that the full-year EBIT for the current year will be in line with the prior year.

The raised EBIT guidance is mainly on account of sustained strong market conditions. During the year-to-date period in 2022, all of the main markets of the company have been experiencing continued strong performance, which in turn has provided increased visibility and predictability for the full year results. As a result, the company has now revised its internal forecasts for the current year.

According to company press release, the strong underlying demand and commercial momentum was visible across all six divisions and geographies. All the divisions continue to remain fully booked. Several product categories are experiencing tight supply and demand balance. Also, the higher selling prices since the beginning of the second quarter have helped the company to mitigate inflationary pressures.

Stora Enso is due to publish its First Half-Yearly Report of 2022 on 22^nd June, 2022.

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