To increase transparency, Stora Enso will establish a Forest division and start reporting it separately at the beginning of 2020. The new Forest division will include Stora Enso’s Swedish forest assets (including the recently-acquired Bergvik Skog Väst AB) and its 41% share of Tornator with the majority of its forest assets located in Finland.
The Forest division will also include wood supply operations in Finland, Sweden, Russia and Baltic countries. Tree plantations in the southern hemisphere linked to local pulp mills continue to be reported as before under the Biomaterials and Consumer Board divisions. After establishing the new Forest division, segment Other reporting will include Group functions, logistics and other operations
Stora Enso’s CEO, Karl-Henrik Sundström, says: “As a major player in the bioeconomy, access to wood is critical for us. Taking forest assets under direct ownership gives us more flexibility to optimise our wood supply and operations. Furthermore, as wood is the single most important raw material and the biggest share of our costs, as well as a large part of the balance sheet, it will make sense to increase the transparency of reporting now, when we have successfully finalised the acquisition of Swedish forest holdings.”
Today, Stora Enso has forest assets valued at more than EUR 4.1 billion (land and biological assets) in its balance sheet, the highest value being of biological assets of EUR 3.6 billion among Nordic companies. In Sweden, Stora Enso owns 1.4 million hectares of forest, of which 1.14 million hectares are productive forest land with standing stock of 143 million m³.
You might think that a paper producing company would look upon digitalisation as a threat. There sure has been much talk about “digital vs print” the last decade. In Stora Enso’s case, that assumption is as wrong as can be. We see the bigger picture. Digital solutions are helping us make the most out of every tree we use, and they are taking us closer to the goal of a safer and more efficient industry.
As the renewable materials company, Stora Enso is leading the way towards a fossil free future. Sustainability is at our very core and in every part of our business. The workplace environment is one important area. Because no company, no matter how green and clean, is truly sustainable if it fails to safeguard the health, safety, and welfare of its employees.
Jonathan Bakewell has been at Stora Enso for 34 years. He quite often gets questions like “What’s the biggest difference since you started out?” and “Was it better in the past?” and yes, he also gets a few “three decades at the same company, what’s wrong with you?!” However, Jonathan is still glad to be a part of this company’s mission to lead the way towards a fossil free future. Proud and inspired after all this time. That says a lot, doesn’t it? This is his Stora Enso-story and some thoughts on the major changes in our business area since 1987.