HELSINKI (News release) -- Stora Enso estimates that the previous full year 2024 adjusted EBIT guidance will be exceeded, thanks to successful implementation of profit improvement actions and more favourable market conditions. The Company has therefore revised its full year 2024 adjusted EBIT guidance to be significantly higher (+50% and above) than the full year 2023 of EUR 342 million. The previous guidance for the full year 2024 was the adjusted EBIT to be higher (more than +15%, but less than +50%) than full year 2023.

In the outlook comment in its Q1 2024 report, published on 25 April, Stora Enso stated that it anticipates a gradual recovery in market conditions in 2024, with increased demand for consumer board, higher pulp demand and prices. These market trends are continuing with improved volume and pricing. The Group's profit improvement actions are becoming visible in the result development. Consequently, Stora Enso has revised its internal forecasts for the full year 2024 to a higher level than previously estimated.

The outlook has improved due to increasing orderbooks and volumes for consumer board, as well as improved pricing outlook for the container board and consumer board businesses. Pulp prices continue to increase, and the outlook for the rest of this year is stronger than previously estimated. Challenging market conditions still continue in the Wood Products and Packaging Solutions divisions.

Market uncertainties such as a continued high inflationary environment, strikes, demand and price development, and other external disruptions which may impact the Group's profits, are still expected to persist towards the end of 2024.

Stora Enso Oyj will publish its Half-year Report for January-June 2024 on Wednesday 24 July 2024 at approximately 8:30 EEST (7:30 CEST).

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion. Stora Enso shares are listed on (NASDAQ: STEAV) (HELSINKI OY: STERV) and (STOCKHOLM AB: STE A), (STOCKHOLM AB: STE R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY), (SEOFF), (SEOJF). storaenso.com/investors