The Finnish group said the aim of the initiative was to further increase business focus, streamline operations, and fully unlock the value of both the forest assets and Stora Enso’s core packaging business.
As part of this review, Stora Enso will explore various options, including a potential separation and public listing of the forest business through a partial demerger into a new company that would be wholly owned by all Stora Enso shareholders.
This move aims to establish two robust and independent entities, each with heightened focus and strategic agility, the company said.
“Stora Enso would continue to lead in renewable packaging, with strong market positions and more flexible, integrated, and cost-competitive production,” it stated.
“Meanwhile, the Swedish forest business would emerge as Europe’s largest listed pure forest company, owning a unique class of assets with anticipated long-term value appreciation and potential for significant new revenue streams.”
Following the company’s recent agreement to divest around 175,000 hectares of Swedish forestland for an enterprise value of €900m (£769m), in line with book value, Stora Enso retains ownership of over 1.2 million hectares (one million hectares of productive forestland) in Sweden, with a fair value of around €5.8bn as of 31 March 2025.
Stora Enso said that while these assets are integral to its wood supply chain, they possess “a distinct operational, financial, and strategic profile”.
“Our Swedish forest assets exemplify excellence in sustainable forestry operations and environmental stewardship,” said Hans Sohlström, president and CEO of Stora Enso.
“Initiating this strategic review underscores our commitment to maximising shareholder value while ensuring alignment with our long-term strategic objectives.
“By evaluating various strategic options, we aim to enhance business focus, reduce complexity, and unlock the full potential of both our forest and industrial assets.”
Stora Enso said it planned to provide an update on the strategic review by the end of 2025. All changes are subject to co-determination negotiations and other potential legal procedures in all impacted countries.
