Stora Enso's Annual Report 2021

Stora Enso's Annual Report 2021

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Annual Report 2021

For 2021, Stora Enso is publishing one combined report covering our:

  • Strategy,

  • Financials,

  • Sustainability reporting,

  • Corporate governance and

  • Remuneration.

Download the Annual Report 2021

CEO’s review

Record high results across key business areas

In 2021, we made significant progress in our strategic ambition to lead in sustainability and transform into ‘The renewable materials company’. Our focus on growth in leading market positions has resulted in record high profitability and a strong balance sheet. We foresee significant growth potential for our products within packaging, biomaterials innovations and building solutions, and this is where we focus strategic efforts and investments.

“Our customers are increasingly aware of the advantages of products which are circular and climate friendly.”

Annica Bresky
Bowl of soup

Strong demand for eco-friendly solutions

Looking at our performance in 2021, Stora Enso showed tremendous adaptability and resilience. We delivered record high results across our key business areas, overcoming macroeconomic turbulence and supply chain disturbances. An increased demand for eco-friendly products, the hard work of our people, and our resilient business model have together supported our strong performance.

A strong demand for our packaging materials and solutions has been a major driver behind our solid 2021 results. In light of sustainability trends and the pandemic, the need for eco-friendly and hygienic food packaging is more important than ever. At the same time, consumer behaviour is changing rapidly. All this, in turn, boosts market size and demand for sustainable packaging. We are leading in sustainable consumer packaging with strong market positions, and are investing to meet a growing demand.

Capturing new revenue in growth markets

Stora Enso is the world’s largest producer of lignin, one of the main building blocks of a tree. In 2021, our pilot plant in Sunila, Finland started producing lignin-based hard carbon. Our product Lignode is a sustainable alternative to carbon-based battery anodes in electric vehicles. We predict that this opportunity alone has significant sales potential.

Wood-based building solutions is another key growth area, addressing the need to replace less climate-friendly construction materials such as concrete and steel. In 2021, we launched several new concepts to grow our market share of wooden construction. Here, we are well positioned to capture new business as the share of wood used in building projects is expected to grow more than 10% by 2030.

Sustainability is core to our strategy

Stora Enso is one of the world’s largest private forest owners. Sustainably managed, our growing forests have a positive climate impact, both as a carbon sink and through circular end-products. Global megatrends, with sustainability at the core, call for fossil-free materials and new applications for renewable and innovative materials.

To support our strategic objectives, we have renewed our sustainability ambitions. We take a regenerative stance within climate, circularity, and biodiversity. By 2050, we aim to offer 100% regenerative solutions. To reach this goal, we have set ambitious 2030 science-based targets to reduce greenhouse gas emissions by 50%, aligning with the 1.5-degree scenario. Furthermore, 100% of our products will be technically recyclable by 2030.

Forest by lake
Woman and man unpacking

Strategic actions for long term value creation

We made significant progress in 2021, strengthening our position for continued growth. This is bolstered by business resilience, a strong safety and people agenda and a proactive and flexible approach to customer collaboration. Stora Enso continuously evolves, and we have the ability and raw material platform to make our business truly integral in the green revolution. Circular products from the forest are part of the solution to combat climate change, a legacy that we will pass on to future generations.

The renewable future grows in the forest.

Annica Bresky

President and CEO

Language versions

ESEF Annual Financial Statements 2021

 Language Name  Download as XBRL  View as XBRL
 English  Annual Financial Statements 2021  Download  View
 Finnish  Tilinpäätös 2021  Lataa  Avaa
 Swedish  Bokslut 2021  Ladda ned  Öppna

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