After a tough Q4 18 – which was marred by operational challenges, Stora Enso embarked 2019 on a positive note. There were meaningful sequential gains across divisions – ex. Wood Products. Going forward, even though group-level margins are set to normalise, the upside potential of growth investments – both in delivery and the evaluation stage – remains high. Moreover, the deal with Bergvik Skog should help unleash various strategic benefits.