Stora Enso posts higher Q2 adjusted EBIT on Oulu ramp-up

Sales were broadly stable at EUR 2.423 billion, while the adjusted EBIT margin improved to 6.6% from 5.2% a year earlier.

 

The company said disciplined execution helped offset the impact of lower prices and adverse currency movements, although market conditions remained volatile. Operating result under IFRS came in at EUR 16 million, compared with EUR 64 million a year earlier, after items affecting comparability and non-operational valuation effects.

 

Cash flow from operations reached EUR 87 million in the quarter, while the net debt-to-adjusted EBITDA ratio improved to 2.2 from 3.3 a year earlier. Stora Enso said the improvement was driven primarily by lower net debt, with proceeds from its hybrid bond classified as equity.

 

For the first half of 2026, sales totalled EUR 4.781 billion and adjusted EBIT increased to EUR 319 million from EUR 301 million a year earlier. Stora Enso said it remains focused on customer value creation, faster-than-market growth, margin expansion and disciplined capital allocation.

 

Outlook remains cautious

Looking ahead, Stora Enso said market conditions remain uncertain, with geopolitical tensions and trade-related volatility continuing to affect demand, supply chains and input costs. Planned maintenance shutdowns and the continued Oulu ramp-up are expected to weigh on third-quarter results. The company also expects lower income from emission rights in 2026 following changes to the EU Emissions Trading Scheme.

 

Stora Enso is a leading provider of renewable materials with businesses focused on packaging, biomaterials and wood products. The company reported sales of EUR 9.3 billion in 2025.