Sappi Announces Price Increase

Tristram Wilkinson, currently serving as President of Kimberly-Clark's Europe, Middle East and Africa (EMEA) consumer business, has been named President of the company's Asia Pacific consumer business, and will have responsibility for the company's largest international region with operations in more than 30 countries, including China, India, Australia, Korea and the ASEAN member states. Wilkinson will continue to report to Chairman and CEO Mike Hsu and will be based in Singapore. Wilkinson is succeeding Aaron Powell, who is departing the company for an external opportunity. A successor to Wilkinson will be named in the near future.

JANUARY–SEPTEMBER 2020 (1–9/2019) *Sales were EUR 3,698 million (4,183). *Operating result was EUR 279 million (342). Comparable operating result was EUR 274 million (418). *Result before taxes was EUR 242 million (298). The comparable result before taxes was EUR 236 million (374). *Comparable return on capital employed was 7.0% (11.0). *Cash flow from operations was EUR 419 million (421). JULY–SEPTEMBER 2020 (7–9/2019) *Sales were EUR 1,245 million (1,374). *Operating result was EUR 116 million (110). Comparable operating result was EUR 115 million (110). *Result before taxes was EUR 103 million (96). The comparable result before taxes was EUR 102 million (96). *Comparable return on capital employed was 8.8% (8.7). *Cash flow from operations was EUR 179 million (239).

Stora Enso has initiated a sales process for a possible divestment of its consumer board production site in Beihai, China. The divestment would also include the Group’s forestry operations in the surrounding region, which supply raw material to the Beihai site. The sales process supports Stora Enso’s strategy to focus on long-term profitable growth within the areas of renewable packaging, building solutions and biomaterials innovations. Stora Enso’s Beihai production site started operations in 2016. It has a modern mechanical pulp mill and a premium consumer board line serving the Chinese market. The annual production capacity is 250,000 tonnes of mechanical pulp and 550,000 tonnes of consumer board. Stora Enso also operates 70,000 hectares of land in the Guangxi region for eucalyptus plantations, established in 2003, for fiber supply. The combined operations employ approximately 1,000 people including the forest operations. Stora Enso owns approximately 80% of the production site and forest operations, and its local partners and International Finance Corporation (IFC) own the remaining share. Stora Enso will work together with all stakeholders to complete the divestment process.