HELSINKI (dpa-AFX) - Stora Enso (SEOAY.PK), a Finnish pulp and paper manufacturer, reported Friday that its fourth-quarter IFRS net profit surged by 159.6 percent to 616 million euros from last year's 237 million euros. While basic earnings per share jumped to 0.78 euros from 0.30 euros, earnings per share, excluding fair valuations, grew to 0.32 euros from 0.09 euros last year.
The Group' operational EBIT totaled 426 million euros, significantly higher than last year's 118 million euros. Operational EBIT margin was 15.7 percent versus 5.5 percent last year.
Group sales for the fourth quarter increased by 26 percent year-on-year to 2.72 billion euros.
Stora Enso's President and CEO Annica Bresky said, '..The solid demand for our products continued and the balanced mix across all our divisions supported both price levels and volumes. We have managed global logistical disturbances and successfully implemented price increases to mitigate rising fiber, energy and other variable input costs'.
In addition, the Board said it will propose a dividend of 0.55 euros per share at the AGM on 15 March 2022.
Looking ahead, Stora Enso expects full-year 2022 operational EBIT to be approximately in line with last year's operational EBIT of 1.53 billion euros.
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