Stora Enso’s wood products division reported an 11.4% reduction in its operating profits (before interest and tax EBIT) for the full year 2011.
EBIT totalled €62.8bn (2010: €70.9), while sales were higher at €1.67bn (2010: €1.58bn).
The sawmilling giant delivered 4.92 million m³ of products for construction and interior uses, as well as solid biofuels for the energy sector.
The share of value-added products increased to 33% (2010: 31%).
Production of a new product called Q-Treat was started at Uimaharju sawmill in Finland. The new treatment is designed to make wood hard, fire-resistant, decay-resistant and weatherproof.
Group wide, Stora Enso full year EBIT improved to €867m (2010: €797m).
Stora Enso CEO Jouko Karvinen described the results as a solid year, but rethinking had to continue in light of a slowing down of economic activity in the fourth quarter of 2011.
“During the first months of 2012, we will faced a challenging operating environment,” he said. “Uncertainty and limited visibility, at least in European markets, will continue.”
