Stora Enso Oyj, a global renewable materials company based in Helsinki, Finland, recently held its Q1 2024 Earnings Conference Call where key executives provided insights into the company’s performance and outlook. Led by President and CEO Hans Sohlström and CFO Seppo Parvi, the call highlighted the company’s focus on profitability and competitiveness in the face of challenging market conditions.

During the call, Sohlström emphasized the company’s commitment to sustainability, showcasing initiatives such as the reduction of operating working capital and the implementation of cost-saving measures to improve profitability. Despite facing challenges such as higher wood costs and political strikes in Finland, the company remains optimistic about its long-term growth prospects.

In the Packaging Materials division, production volumes were reported, with a focus on operational efficiency and the impact of market dynamics on margins. The company’s profit improvement program aims to drive customer orientation and cost efficiency, with a decentralized operating model to enhance decision-making and agility within the organization.

Seppo Parvi addressed questions regarding the impact of the ongoing Red Sea crisis on logistics and the potential divestment of assets such as the Beihai site in China. While details on pricing expectations and timing were not disclosed, the company remains focused on strategic portfolio optimization to ensure long-term value creation.

Overall, Stora Enso’s leadership highlighted a strategic focus on sustainable growth, operational efficiency, and financial stability. The company’s efforts to navigate market challenges and drive profitability were underscored throughout the conference call, reflecting a proactive approach to achieving its long-term goals.