Quarterly update

Recent events

Stora Enso announced on 25 May that the company will start change negotiations with union representatives at its Skutskär production unit in Sweden regarding a plan to permanently close softwood pulp production on fiberline 3 and restructure the organisation to focus on fluff pulp and increase competitiveness. Read more.

Stora Enso has published its Circularity Plan, aligned with the first version of the Global Circularity Protocol for Business (GCP), and introduced a new target to increase material circularity in its direct operational control. The plan outlines the company’s comprehensive approach to advancing circularity, including target setting and the integration of circular economy principles into its strategy and daily operations.

On 7 May, Stora Enso announced Bergslagets Skogar as the new name of its Swedish forest asset company. The announcement marks an important step in Stora Enso’s preparations to separate its Swedish forest assets into a standalone listed company, subject to relevant approvals. Further information on Bergslagets Skogar and the planned separation will be presented at a Capital Markets Day on 3 November 2026 in Stockholm. The CMD will be followed by a forest field trip in Falun. An invitation with registration details and a complete agenda will be sent out closer to the event. 

Stora Enso successfully completed the issuance of two tranches of hybrid bonds with a total nominal amount of EUR 1 billion in April. The proceeds from the issuance will be used for general corporate purposes, including the refinancing of existing debt and upcoming maturities. Read more.

The financial reporting dates in 2027 are available in the calendar.

Stora Enso's segment reporting changed as of 1 January 2026, and the Group has restated the comparative figures for its segment reporting for 2025. Read more

Outlook Q2/2026

• Market conditions remain challenging, with low consumer confidence and heightened geopolitical volatility. 
• Geopolitical tensions, particularly the conflict in the Middle East, are expected to increase costs in 2026, especially for logistics, chemicals, and energy. The Group is working on measures to manage these pressures, but uncertainty persists regarding cost and market development. 
• The ramp-up of the new production line in Oulu continues. In Q2, we expect the negative impact on adjusted EBIT to continue at a similar level as in Q1/2026.
• Planned maintenance activity in the second quarter is expected to be broadly in line with the first quarter of 2026. The divestment of 175,000 hectares of forest assets in Sweden, completed in 2025, will result in a reduction of annual adjusted EBIT of approximately EUR 20 million, with an estimated quarterly effect of approximately EUR 5 million.
• The operating income from emission rights in 2025 was about EUR 72 million, distributed evenly throughout the year. For 2026, the income from the sale of emission rights is projected to decrease to EUR 10–20 million. This decline results from changes in the EU ETS (Emissions Trading Scheme) rules: several sites will lose their free CO₂ allowance allocations from 2026 onward, as their emissions are now more than 95% biogenic, demonstrating the success of long-term emission-reduction initiatives.