Stora Enso Reports Q2 2023 Financial Results: Mixed Outcomes Amid Market Challenges

Stora Enso, the Finnish-Swedish forestry company, has released its financial results for the second quarter of 2023, revealing an adjusted operating profit of 126 million euros. This figure represents an 18% decline from the 153 million euros reported in the same quarter last year. However, the profit surpassed analysts' expectations, which had forecasted a profit of 123 million euros, as per Bloomberg.

Sales for the company increased by 5.4% to reach 2.4 billion euros, aligning closely with market forecasts. Despite these positive sales figures, Stora Enso cautions about the prospective outlook, stating that the market is expected to remain pressured and volatile throughout 2025. This volatility is attributed to ongoing macroeconomic and geopolitical uncertainties, which are affecting overall consumer confidence. While demand for packaging cardboard is stable, it remains described as weak. Furthermore, Stora Enso noted that their exposure to the current US tariffs is minimal, impacting only 3% of their sales, which suggests a relatively insulated operation amidst global pressures.