The following is a summary of the Stora Enso Oyj (SEOJF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Stora Enso reported a decrease in Q1 group sales by 20% to €2.2 billion due to divestments and closures.

• Group adjusted EBIT fell to €156 million, largely due to lower sales prices across all divisions.

• Cash flow from operations reached €269 million due to reductions in operating capital.

• The company's debt ratio exceeded its target, reaching a net debt to adjusted EBITDA ratio of 4 at the end of the first quarter.

Business Progress:

• Stora Enso launched a restructuring program that aims to enhance adjusted EBIT by €120 million, via fixed cost reduction.

• The company is expanding within the renewable and recyclable packaging sector, marked by the acquisition of De Jong Packaging Group.

• Sustainability targets have been established, including reaching net-zero carbon emissions by 2040 and having a net positive impact on biodiversity by 2050.

• A systematic improvement program was launched aimed at achieving operational efficiency and commercial excellence.

• Organizational changes including the introduction of decentralized P&L structure have been implemented for improved agility and decision-making.

• Stora Enso is handling global economy challenges with strategies such as delivering high added-value products and efficient operations.

• The divestment of Beihai assets is part of a capital release program aimed towards reducing the net debt to EBITDA ratio.

• Future plans include increasing their profit improvement program from €80 million to €120 million for enhanced profitability and competitiveness.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.