Stora Enso has completed the divestment of its paper production site in Hylte, Sweden announced on 27 January 2023, and all related assets to Sweden Timber, a Sweden-based sawmill and planing mill company.
The enterprise value of the transaction is approximately €18m and will result in the reduction of Stora Enso’s annual newsprint paper capacity by 245,000 tonnes. Using 2022 figures as a benchmark, the divestment is expected to reduce Stora Enso’s annual sales by approximately €160m
Stora Enso will book a disposal loss of approximately €35m, in addition to an impairment loss of €19m recorded in Q4/2022 in its IFRS operating profit in Q2/2023, as an item affecting comparability. The final value will be subject to closing date adjustments.
