While Q3 was soft (both yoy and qoq), profitability erosion was less severe than street expectations. The growth divisions, i.e. Packaging and Forests, continued to do well, and Wood Products benefited from extreme gains in the US, thereby partly compensating for the weakness in other areas. Moreover, management unveiled its decision to revalue the forest assets – similar to the Swedish peers, and the scope of the cost savings programme was expanded. Overall, despite the recent share price run-u ....
21 Oct 2020
Decent Q3 + forest revaluation gains + more cost savings
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Decent Q3 + forest revaluation gains + more cost savings
Stora Enso Oyj Class R (STERV:HEL) | 0 0 1.8% | Mkt Cap: 11,103m
- Published:
21 Oct 2020 -
Author:
Varun Sikka -
Pages:
5
While Q3 was soft (both yoy and qoq), profitability erosion was less severe than street expectations. The growth divisions, i.e. Packaging and Forests, continued to do well, and Wood Products benefited from extreme gains in the US, thereby partly compensating for the weakness in other areas. Moreover, management unveiled its decision to revalue the forest assets – similar to the Swedish peers, and the scope of the cost savings programme was expanded. Overall, despite the recent share price run-u ....