Stora Enso, a global provider of renewable solutions in packaging, biomaterials, and wood products, has revealed non-cash impairments amounting to approximately €514m ($553.96m as of today) in its IFRS operating result for the fourth quarter (Q4) of 2023.

These impairments, categorised as items affecting comparability, are expected to have a net result impact of approximately €449m in the negative, including an estimated positive tax effect of €65m.

Allocation of impairment charges among segments

The impairment charges have been allocated among Stora Enso’s business segments as follows:

Packaging Materials:

  • Goodwill: €26m.
  • Fixed assets: €355m.
  • Total: €381m.


  • Goodwill: €45m.
  • Fixed assets: €58m.
  • Total: €103m.

Wood Products:

  • Fixed assets: €15m.


  • Fixed assets: €15m.
  • Total: €15m.

The fixed asset impairments in the Packaging Materials division primarily pertain to the Containerboard segment while in the Biomaterials division, they are associated with the Nordic production units.

Stora Enso attributes these impairments largely to its revised projections, indicating a more subdued outlook compared to previous estimates.

Impact and future outlook

As a consequence of these impairment bookings, Stora Enso anticipates a reduction of approximately €40m in annual depreciation going forward.

However, it’s important to note that these impairments do not affect Stora Enso’s full-year 2023 guidance.

The company remains committed to providing renewable solutions and, despite this financial adjustment, continues its operations in the packaging, biomaterials, and wood products sectors.