EE: Stora Enso Estonia records net profit in 2010.

By bne IntelliNews June 8, 2011
Paper and wood products group Stora Enso recorded net profit of EUR 17.5mn in Estonia in 2010, the company announced. In 2009 the company recorded EUR 7.9mn net loss, which was due to write-down of the value of Lithuanian Stora Enso subsidiary. Revenues of Stora Enso Estonia increased to EUR 164mn in 2010, up by 61% y/y. Sales volume grew by 28% y/y to 0.5mn cubic metres of wood products. Timber sales amounted to 0.5mn cubic metres, and wood chips sold 0.2mn cubic metres. As of end-2010 the company employed 589 people.

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