HELSINKI (dpa-AFX) - Stora Enso (SEOAY.PK), on Thursday, reported Q1 profit before tax, excl. IAC and FV, of EUR 484 million compared to EUR 292 million last year. On a per share basis, earnings, excl. IAC and FV, was EUR 0.35 versus EUR 0.22 earned a year ago.
Sales for the quarter rose 23.0% to EUR 2.798 billion from EUR 2.276 billion generated in the same period of last year.
Stora Enso's President and CEO Annica Bresky, said, 'This year has started on a very strong note for Stora Enso. We delivered record high profitability and maintained our growth momentum from last year in a very turbulent environment. Our sales reached close to EUR 2.8 billion, an increase of 29% excluding Paper. We have seen strong demand for our products with high prices and solid volumes in all our segments and regions...'
Looking ahead, Stora Enso continues to estimate full-year 2022 operational EBIT to be approximately in line with the full year 2021's operational EBIT of EUR 1,528 million.
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