Stora Enso Key facts

Stora Enso in brief

• Stora Enso is a forest products company

producing newsprint and book paper,
magazine paper, fine paper, consumer
board, industrial packaging and wood
products
• 12.7 million tonnes of paper and board
• 6.9 million m3 of sawn and processed
wood products
• Sales 2008 EUR 11.0 billion
• Approximately 29 000 employees in more
than 35 countries
• Market capitalisation EUR 4.4 billion
• Shares listed on Helsinki and Stockholm
stock exchanges

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Key figures

EUR million 2007 2008

Sales 11 849 11 029
Operating profit* 1127 319
% of sales* 9.5 2.9
Profit before tax and minority
970 152
intrests*
Profit for the period 13 -679
Earnings per share (EPS)*, EUR 0.94 0.18
ROCE *, % 11.3 3.4

*) excluding non-recurring items

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Group Executive Team

CEO

Jouko Karvinen

CFO Technology & Strategy

Markus Rauramo Bernd Rettig

Wood Supply, HR,

Sustainability
Elisabet
Salander Björklund

Publication Paper Fine Paper Packaging Wood Products

Juha Vanhainen Hannu Alalauri Mats Nordlander Hannu Kasurinen

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Production plants

Production plants
Pulp in bales

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Breakdown by location

Number of employees Paper and board capacity

1% 1%
12 %

17 % 1%
3%
33 %

5% 42 %
14 %

5%

7%

10 %
21 % 28 %

Finland Sweden Germany Finland Sweden Germany

Poland Russia China China Brazil Other countries
Other Europe Brazil Other countries
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Breakdown by segment
2008, continued operations

Sales, EUR 11 029 million Operating profit, EUR 319 million*

(Share of Group’s operating profit)
19% 19%
18%

14%
13%

41%
9%
8% 31%
26%
23% 21%

-20% -22%

Newsprint and Book Paper Magazine Paper Fine Paper

Consumer Board Industrial Packaging Wood Products
Other *)excluding non-recurring items
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Ownership by distribution
31 Dec 2008

% of shares % of voting power

13 %
15 %
21 %

4%
12 %
3%

46 %
2%

13 % 25 %

30 %
3%
11 % 2%

Finnish Institutions Finnish state Finnish private shareholders

Swedish institutions Swedish private shareholders ADRs
Under nominee names (Non-Finnish/ Non-Swedish shareholders)

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Business areas
What we do

Publication paper Fine paper

• Newsprint and book paper: standard • Graphic paper (art books, upmarket
newsprint, imroved newsprint, and magazines, catalogues)
directory and book paper • Office paper (document printing
• Magazine paper: super-calendered, paper, envelope paper, business
uncoated machine-finished, machine- forms, note pads etc.)
finished coated, and coated
magazine paper

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What we do (continued)
Packaging
• Consumer board: liquid packaging
board, food service board,
cartonboard and graphical board
• Industrial packaging: corrugated
packaging, containerboard, cores and
coreboard, laminating paper, paper
sacks, sack and kraft paper
Wood products
• Value added products for the
construction and joinery industries
• Sawn and processed wood products
to timber retailers, merchants and
importer-distributors
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Newsprint and Book Paper

Products
• Standard newsprint, imroved newsprint,
and directory and book paper.

Capacity
• 3.0 million t/a

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Newsprint and Book Paper

Varkaus

Anjala
Kvarnsveden

Hylte

Langerbrugge Sachsen

Maxau

Newsprint and Book Paper

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Magazine Paper

Products
• Super-calendered (SC), uncoated
machine-finished (MF), machine-
finished coated (MFC), and coated
(LWC, MWC, HWC) magazine paper.

Capacity
• 3.0 million t/a

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Magazine Paper

Veitsiluoto

Kvarnsveden Kotka

Langerbrugge
Kabel
Corbehem
Maxau Dawang

Arapoti

Magazine Paper

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Fine Paper

Products
• Graphic paper (coated fine paper) is
used in art books annual reports,
upmarket magazines and catalogues.
Office paper (uncoated fine paper)
products include document printing
paper, digital paper, envelope paper,
business forms and paper used in
school notebooks and writing pads.

Capacity
• 3.2 million t/a

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Fine Paper

Veitsiluoto
Oulu
Varkaus
Imatra

Nymölla
Mendelsham Uetersen
Antwerp

Suzhou

Office papers
Graphic papers
Sheeting plant

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Consumer Board

Products
• Liquid packaging board, food service
board, cartonboard and graphical
board.

Capacity
• 2.5 million t/a

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Consumer Board

Imatra
Fors Karhula Ingerois

Forshaga Skoghall

Barcelona

Consumer Board
Plastic Coating Plants

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Industrial Packaging

Products
• Corrugated packaging, containerboard,
cores and coreboard, laminating paper,
paper sacks, sack and kraft paper.

Capacity
• Corrugated packaging 1.5 billion m2
• Cores 0.3 million t/a

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Industrial Packaging

Ruovesi
Kristiinankaupunki Lahti
Pori Heinola

Mohed
Vikingstad Imatra
Jönköping Loviisa
Kotka Balabanovo
Bäckefors Tallinn Arzamas
Riga Lukhovitsy
Bolton Skene
Kaunas
Milton Keynes Edam
Mosina Ostrolęka
Wisconsin Rapids
Krefeld Łodź
Tychy
Jülich
Saint-Seurin-
Sur-L’Isle Páty Hangzhou
Tolosana
Foshan

Pasir Gudang

Laminating Papers
Containerboards
Corrucated Packaging
Corenso

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Wood Products

Products
• Mass-customised, value-added
products for industrial end-uses. These
include glue-laminated, stress-graded
and finger-jointed products and
components for the construction and
joinery industries. Sawn and processed
wood products to timber retailers,
merchants and importer-distributors.

Capacity
• Sawn timber 6.9 million m3 of which 3.2
million m3 value-added products

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Wood Products

Veitsiluoto
Uimaharju
Varkaus Kitee
Tolkkinen Impilahti
Ala Honkalahti
Kopparfors Kotka Nebolchi
Imavere Näpi
Gruvön
Launkalne

Alytus
Amsterdam Swietajno

Murów
Plana
Zdirec
Pfarrkirchen Brand
Ybbs Sollenau
Bad St. Leonhard

Wood Products

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Appendix
 Major Structural Changes

Arapoti acquisition
Schneidersöhne Group acquisition
Start-up of Veracel Pulp Mill (joint venture) 2008
Papeteries de France acquisition 2007

2006
Scaldia Papier acquisition
Intercell acquisition Closing of Summa Mill,
Sylvester acquisition 2005 Kemijärvi Mill,
Norrsundet Mill, Baienfurt
Consolidated Mill and Paikuse sawmill
Papers 2004
acquisition Divestment of Papyrus
Divestment of Swedish
2002 forest holdings Closing of Berghuizer Mill,
Divestment of Finnantara Reisholz Mill and Sauga Mill
2000 plantation
Divestment of Stora Enso
1999 Divestment of Finnish forest holdings North America
1998 Sale of power assets outside mills
Stora Sale of Wolfsheck Mill, Celbi Pulp
Gruvön Mill ->Billerud
Enso Mill, Pankakoski Mill, Linghed Mill
Sale of Tervakoski Mill and Grycksbo Mill
merger Sale of Dalum Mill
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Paper Industry Concentration

The paper industry is still relatively fragmented, with top five firms
controlling about 20-40% of the regional capacity
C(5) %
50
1997
2009
40

30

20

10

0
North America Western Europe Asia Latin America World

Source: Pöyry C(5) = combined share of top five firms

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Long-term Demand Growth by Region through 2025
Paper and Paperboard

Demand growth, %/a

7
India
6

5 China Russia
Middle East
4 Africa
Eastern Europe
3 Latin America
Rest of Asia
2
Average 1.9%/a
1 Oceania
Western Europe
0
North America Japan
-1
0 20 40 60 80 100
Share of consumption in 2006, %
Source: Pöyry

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Information as it happens:
www.storaenso.com

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