Stora Enso Posts Loss In Q2

(RTTNews) - Stora Enso (SEOAY, STEr.ST, STE_A.ST, STEAV.HE, STERV.HE) reported second quarter net result of a loss of 11 million euros compared to profit of 15 million euros, last year. Loss per share was 0.03 euros compared to profit of 0.03 euros. Adjusted EBIT increased by 27% to 160 million euros from 126 million euros, supported by a positive impact of the ramp-up of the new consumer board line at the Oulu site. The adjusted EBIT margin increased to 6.6% from 5.2%. Earnings per share excluding FV, was 0.03 euros compared to 0.05 euros.

Sales remained stable at 2.42 billion euros compared to 2.43 billion euros, as the positive impact from structural changes was offset by lower prices and adverse currency movements.

At last close on Helsinki, Stora Enso shares were trading at 10.03 euros, up 3.10%.

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