Stora Enso's non-recurring items in fourth quarter will total 223 million Euros
Dec 20 2010 Stora Enso will record a net reversal of impairment charge of about 238 million Euros following the fixed asset impairment testing undertaken in the fourth quarter of 2010.
The reversal of impairment charge, which will be recorded as a non-cash non-recurring item (NRI) with a positive net impact on the fourth quarter results, is mainly due to the improvement in the outlook for consumer board, fine paper and pulp, and Stora Enso's early cost improvement actions.This reversal of impairment charge will increase Stora Enso's annual depreciation by approximately 30 million Euros and therefore correspondingly reduce the group's operating profit in the fourth quarter by approximately seven million Euros.