Stora Enso Oyj (SEOAY.PK), a Finnish paper mill company, reported that its third-quarter net results attributable to owners of the parent was positive 88 million euros or 0.11 euros per share compared to a negative of 33 million euros or 0.04 euros per share in the prior year.
Adjusted EBIT increased to 175 million euros from last year's 153 million euros. Higher sales prices increased adjusted EBIT by 14 million euros. Variable costs increased by 18 million euros driven by higher fiber costs, mainly pulpwood.
Group sales for the third quarter decreased to 2.26 billion euros from 2.30 billion euros last year. Higher sales prices, especially for board products were offset by lower deliveries.
Stora Enso expects adjusted EBIT for the full year 2024 to be significantly higher than the 342 million euros reported for 2023.
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