Paper industry outlook is not optimistic

According to Jukka Harmala, chief executive officer of Stora Enso, the demand for paper remains low due to the lack of any signs of growth in advertising this year.

The price of pulp has begun to stabilize, and the raw material for pulp production has gradually decreased. Mr. Harmala said, “Of course, we welcome every good sign, but it seems that these signs will affect our business for a long time.”

The company plans to sell forests in the United States and Finland to release funds for the core papermaking business. The book value of these assets is €500m. As such, the company's forest ground in Sweden is also experiencing a similar situation.