Stora Enso will not postpone quarter end payments to suppliers going forward, and has made the postponed invoice payments.
As announced earlier, Stora Enso has postponed payments to some suppliers by one week in the last weeks of June and September this year.
These were extraordinary actions with the objective to optimise cash flow, the company announced.
Stora Enso will not postpone quarter end payments to suppliers going forward, while the postponed invoice payments have been made.
“We value our suppliers, which are central to our operations and our success, and regret any possible impact or inconvenience that these extraordinary actions may have had on them and their business. Our values are to lead and do what’s and right and we are committed to foster a culture of openness and integrity, in everything we do,” said Hans Sohlström, President and CEO of Stora Enso.
The cash flow effect of the one-week end of the quarters postponed payments has been on average €70m, which represents approximately 4 per cent of the accounts payable. This is not material in relation to Stora Enso’s total cash flow and liquidity, according to the statement.
Stora Enso will publish its Q3 interim report for 2024 on 24 October.
