HELSINKI (dpa-AFX) - Stora Enso (SEOAY.PK), a Finnish pulp and paper manufacturer, reported Friday that its third-quarter net profit climbed 22.7 percent to 367 million euros from last year's 299 million euros.
Earnings per share were 0.47 euro, up from 0.38 euro a year ago. The prior year's adjusted earnings per share were 0.37 euro.
Operating profit on IFRS basis climbed 32.3 percent to 511 million euros.
Operational EBIT increased 29 percent from last year to 527 million euros. Operational EBIT margin grew to 17.8 percent from 15.9 percent in the prior year.
Sales increased 15 percent to 2.96 billion euros from last year's 2.58 billion euros. Sales excluding Paper grew 17 percent.
Looking ahead, Stora Enso reiterated its fiscal 2022 operational EBIT guidance to be higher than last year's operational EBIT of 1.53 billion euros.
Stora Enso said it enters fourth quarter with the profitability of the Packaging Materials division expected to deteriorate due to escalated cost inflation in energy along with costs for planned maintenance at four of its sites including its two largest.
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