American Forest & Paper Association Releases December 2020 Packaging Papers Monthly Report

The new state-of-the-art 4-colour converting machine will produce the well-known FEFCO 0201 bespoke boxes and alternative grades for customers. It is currently in start-up phase and equipped with an advanced automatic inline error detection system. The computer-controlled technology will check the quality of the printing and gluing and enhance the accuracy of the machinery while applying additional preciseness to the die-cutting lines in the packaging and folding process. Philip Bautil, Managing Director of DS Smith Benelux: “We are thrilled to take this new step in our ongoing commitment to excellence and sustainability. This investment underscores our dedication to delivering high-quality packaging solutions that meet the needs of our customers while contributing to a more sustainable future,”

Stora Enso acquires De Jong Packaging Group, based in the Netherlands, for an enterprise value of approximately EUR 1,020 million. This acquisition will advance Stora Enso’s strategic direction, accelerate revenue growth and build market share in renewable packaging in Europe. De Jong Packaging Group is one of the largest corrugated packaging producers in the Benelux countries. Its product portfolio and geographic presence will complement and enhance Stora Enso’s offering, especially in fresh produce, e-commerce and industrial packaging. The acquisition of De Jong Packaging Group will significantly strengthen Stora Enso’s European market presence in corrugated packaging and provide an entry into the Netherlands, Belgium, Germany and the UK. With this acquisition, Stora Enso’s Packaging Solutions division will increase its corrugated packaging capacity by approximately 1,200 million m2 to more than 2,000 million m2, including De Jong Packaging Group’s ongoing expansion projects. This will secure a platform for continued growth in key markets. The European corrugated packaging market is fragmented, with local presence key for sustainable growth.

Highlights • A resilient performance with strong cash flow - Underlying EBITDA of €1,201 million (2022: €1,848 million), with margin of 16.4% (2022: 20.8%) - Strong cash generation with cash generated from operations increasing to €1,312 million (2022: €1,292 million) - Group revenue of €7,330 million (2022: €8,902 million) - Basic underlying earnings per share of 107.8 euro cents (2022: 195.6 euro cents) - Return on capital employed (ROCE) of 12.8% (2022: 23.7%) • Robust balance sheet with net debt to underlying EBITDA at 0.3 times; pro-forma at 1.0 times1 (2022: 0.5 times) • Good progress towards delivering €1.2 billion of organic growth investments on time and on budget • Advancing our sustainability performance through the Mondi Action Plan 2030 (MAP2030) • Completed sale of Russian assets, concluding the Group's exit from Russia