Stora Enso Changes Business Area Structure
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Stora Enso, Helsinki, Finland, effective this past Tuesday (January 17), renewed its business area and reporting segment structure The paper reporting segments Newsprint and Book Paper, Magazine Paper, and Fine Paper were combined into one business area and reporting segment called Printing and Reading. The reporting segments Consumer Board and Industrial Packaging now form the Renewable Packaging business area and reporting segment. A new business area and reporting segment called Biomaterials includes mainly the company's joint-venture pulp mills, stand-alone pulp mills, and wood plantations. The Wood Products business area was renamed Building and Living.
The company thus has four business areas and reporting segments:
- Biomaterials, headed by EVP Juan Bueno
- Printing and Reading, headed by EVP Juha Vanhainen
- Renewable Packaging, headed by EVP Mats Nordlander
- Building and Living, headed by EVP Hannu Kasurinen.
"We are organizing our businesses based on the different markets and customers they serve. The aim is to increase our organization's competitiveness, flexibility, speed, and accountability, and to minimize interdependences between the businesses to ensure that we have the ability and agility to seize opportunities arising from changes in the global economy," said CEO Jouko Karvinen.
The first financial report according to the new reporting segment structure will be the first quarter 2012 Interim Review to be released on April 24. Historical figures according to the new reporting structure will be published on Stora Enso's Capital Markets Day on March 22.
The company notes that it will change the formulation of how it gives its forward-looking guidance, effective from fourth quarter 2011 results onwards. The group will cease to give future grade-specific price and demand guidance, and instead will give forward-looking guidance for quarterly sales and operational EBIT for the ongoing quarter to improve the capital markets service.
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