While Stora Enso’s paper business has continued to weaken (after a bounce back in 2014), the strong performance in its pulp (Biomaterials) business has helped the group revive its earnings momentum. Q3 15 sales came in at €2.5bn (-0.6% yoy; -2.4% qoq) as a structurally weak paper business continued to weigh on the top-line. Although the effect of declining paper prices, asset divestments (Corenso and Uetersen) and weakness in wood products was partly offset by higher pulp prices an
