STERVNasdaq HelsinkiPaper & Paper ProductsIFRS · EUR

Stora Enso Oyj

Stora Enso is a global provider of renewable solutions in packaging, biomaterials, and wooden construction, leveraging its extensive forest assets. The company is committed to replacing fossil-based materials with renewable alternatives, contributing to a circular bioeconomy. With operations spanning Europe, Asia, and the Americas, Stora Enso is a significant player in sustainable forestry and innovation in fiber-based products. The company is listed on the Helsinki and Stockholm stock exchanges and has a strong focus on sustainability and resource efficiency.

Revenue9,326m EUR
+3.1 %y/y
Operating profit (EBIT)942m EUR
+912.9 %y/y
EBIT margin10.1%
+9.1 ppy/y
Net income686m EUR
+474.9 %y/y
Free cash flow-34.0m EUR
+78.9 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-2.50.02.55.07.510.012.5bn EUR2021: 10.2 bn EUR2021: EBIT 1.6 bn EUR20212022: 11.7 bn EUR2022: EBIT 2.0 bn EUR20222023: 9.4 bn EUR2023: EBIT -0.32 bn EUR20232024: 9.0 bn EUR2024: EBIT 0.09 bn EUR20242025: 9.3 bn EUR2025: EBIT 0.94 bn EUR2025TTM 2026: 9.3 bn EURTTM9.3
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Packaging Materials46 %

Includes premium packaging boards made from virgin and recycled fiber.

Biomaterials17 %

Innovative biobased solutions for high-growth markets.

Wood Products15 %

Traditional wood products and construction solutions.

Packaging Solutions13 %

Fiber-based packaging products and design services.

Forest9 %

Management of owned and leased forest lands.

Customers

Stora Enso serves a diverse range of B2B customers across the globe, including packaging converters, food producers, and brand owners. The company's products are integral to industries such as food and beverage, e-commerce, and construction. Customers choose Stora Enso for its commitment to sustainability and innovation in renewable materials. The company's strategic partnerships and global distribution network ensure reliable supply and support for customer operations.

Packaging Converters

Purchase renewable packaging materials for food and beverage industries.

Brand Owners

Seek sustainable packaging solutions to enhance brand value.

Construction Companies

Use wooden construction solutions for sustainable building.

Industrial Applications

Utilize biomaterials for innovative industrial solutions.

Strategy

Stora Enso's strategic priorities focus on expanding its leadership in renewable packaging, biomaterials innovation, and sustainable building solutions. The company aims to drive growth through strategic partnerships and innovation in fiber-based products. Sustainability is a core component of its strategy, with a commitment to reducing CO₂ emissions and enhancing resource efficiency. Stora Enso also focuses on optimizing its capital allocation and cost control to enhance shareholder value.

Renewable Packaging LeadershipMedium term

To meet growing demand for sustainable packaging solutions.

Biomaterials InnovationLong term

To provide sustainable alternatives to fossil-based materials.

Sustainable Building SolutionsLong term

To capitalize on the shift towards eco-friendly construction.

Geography

Stora Enso operates globally with a strong presence in Europe, which accounts for 69% of its sales. The company also has significant operations in Asia Pacific and North America. Its forest assets are primarily located in Europe and China, with additional holdings in Brazil and Uruguay. This geographic diversity supports Stora Enso's supply chain resilience and market reach, allowing it to serve a wide range of industries worldwide.

Risks

Stora Enso faces several risks, including geopolitical tensions that could impact supply chains and market access. Fluctuations in raw material prices and energy costs pose financial risks. The company also faces reputational risks related to sustainability and compliance. Additionally, physical asset risks and product safety concerns are critical due to the nature of its operations. Mitigation strategies include strong stakeholder engagement and comprehensive risk management programs.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Geopolitical Tensions1Reputational Risk2Raw Material Price Volatility3Physical Asset Risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Geopolitical TensionsImpact: HighLikelihood: Medium

    Could disrupt supply chains and market access.

  2. Reputational RiskImpact: HighLikelihood: Medium

    Non-compliance could damage brand and investor confidence.

  3. Raw Material Price VolatilityImpact: MediumLikelihood: High

    Impacts cost structure and profitability.

  4. Physical Asset RiskImpact: MediumLikelihood: Medium

    Potential for operational failures and increased costs.

Accounting

Judgemental items
Biological Asset Valuation

Affects reported earnings and balance sheet strength.

Impairment of Assets

Significantly impacts financial results and asset values.

Revenue Recognition Timing

Influences the timing and comparability of revenue.

Fair Value Measurements

Require significant judgment and impact reported values.

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026