Stora Enso sees higher expenses in 2020 on renewables push
September 20, 2019
HELSINKI (News release) -- In 2020, Stora Enso's estimated capital expenditure will be Euro 800-850 million, including Euro 200-230 million for the Oulu mill conversion and Euro 80-100 million for biological assets. The forecasted annual depreciation is Euro 550-570 million and the operational decrease in the value of biological assets is Euro 50-70 million.
The capital expenditure, depreciation and operational decrease in the biological asset values forecasts also include the impact of IFRS 16 Leases. The capital expenditure spend has been raised temporarily in order to accelerate Stora Enso's transformation into a renewable materials company.
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