Helsinki, Finland, 2012-01-17 08:00 CET (GLOBE NEWSWIRE) -- STORA ENSO OYJ STOCK EXCHANGE RELEASE 17 January 2012 at 9.00 EET
Stora Enso will record non-recurring items (NRI) with a negative impact of approximately EUR 21 million on operating profit and a negative impact of approximately EUR 10 million on financial items in its fourth quarter 2011 results. The NRI will have a negative cash impact of EUR 20 million.
A NRI of approximately EUR -20 million relates to water purification and a water level adjustment provision at the former mine at Falun in Sweden and a NRI of approximately EUR -11 million relates to write-downs of Arktos Group shares and loan receivables. They are both reported in the segment Other and their impact on operating profit is specified in the table below.
The NRI detailed above and valuation of deferred tax assets have a beneficial tax impact of EUR 51 million.
In addition, there are other NRI-type items related to restructuring and impairment that do not fulfil the Group NRI criteria* and thus are netted out at Group level. However, the items are specified at segment level in the table below.
Allocation of NRI at operating profit level between segments
| Segment | EUR million |
| Consumer Board | 5 |
| Industrial Packaging | -7 |
| Magazine Paper | 3 |
| Fine Paper | 4 |
| Wood Products | -5 |
| Other | -21 |
| Total | -21 |
*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 fourth quarter and full year 2011 results on 8 February 2012 at 13.00 EET (12.00 CET).
For further information, please contact:
Markus Rauramo, CFO, tel. +358 2046 21121
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 40 763 8767
Stora Enso is the global rethinker of the packaging, paper and wood products 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 2010 amounted to EUR 10.3 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