Stora Enso (SEOAY.PK), a provider of renewable solutions, Thursday reported that its first-quarter net profit declined 11.6 percent to 114 million euros from 129 million euros last year. Earnings per share were 0.15 euro, compared to 0.16 euro last year.
Sales of 2.445 billion euros declined 1.8 percent from 2.49 billion euros last year. Sales excluding the structurally declining paper business and divested Barcelona Mill increased 2.4 percent.
Operational EBIT increased 12.7 percent to 248 million euros.
Looking ahead, to the second quarter, sales are estimated to be slightly higher than the first quarter. Operational EBIT is expected to be in line with or somewhat lower than the sequential quarter.
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