Stora Enso’s (OMX: STE1RV) Q1 2012 sales of 2.67 billion Euros, operational EBIT of 147 million and net profit of 74 million (0.09 EPS) were all non-surprises. The EBIT decline compared to Q1 2011 is attributable to lower prices in Printing and Reading and Biomaterials and lower Renewable Packaging volumes. The activity was on similar level as in Q4 2011.
CEO Jouko Karvinen said the quarter went just as the company had anticipated but since return on capital employed was below cost of capital, the need to improve cost position and operative performance are evermore in the agenda. The big news of the quarter is of course the Beihai investment. Stora Enso was scolded in very biased YLE documentary on the issue last week. The stock has maintained its daily gain following the report that was released minutes ago.
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