Stora Enso reduces costs due to market uncertainty
| 07 February, 2019
Stora Enso is implementing a profit protection programme of EUR 120 million targeting reductions in variable and fixed costs, as market uncertainty increases. The programme will include all divisions and corporate functions. The Group estimates that some effects will be visible already during 2019 with full impact by the end of 2020.
“We have prepared already for a year for the possibility that the markets would become weaker. Under the current geopolitical circumstances, there is a notable risk that global trade could shrink materially. Due to market risk and increasing costs, we are now taking proactive action and are implementing our profit protection programme. We do this to further strengthen our competitiveness,” says Stora Enso’s CEO Karl-Henrik Sundström.