Stora Enso has published its third quarter 2016 results. Stora Enso's CEO Karl-Henrik Sundström made the following comments on the third quarter 2016 results:
“In the third quarter, sales increased 1.8%, excluding the structurally declining paper business and divested Barcelona Mill. This was primarily due to the ramp-ups of Varkaus kraftliner and Beihai consumer board mills. Operational EBIT was EUR 219 million compared to EUR 246 million a year ago, negatively affected with the ramp-up of Beihai by EUR 35 million.
Cash flow from operations was EUR 390 million thanks to reduced working capital and proceeds from divestments. The balance sheet continued to strengthen as net debt to operational EBITDA was 2.1."
