HELSINKI (From news reports) -- Stora Enso has acknowledged a brief delay in payments to suppliers during specific periods in 2024, as reported by Swedish media.

The company clarified that the decision to postpone payments was aimed at managing cash flow more effectively.

One-week payment postponement

Stora Enso confirmed that it postponed its weekly supplier payments for a one-week period in both June and September 2024.

According to a report published by the Swedish financial publication Dagens Industri, these postponements were made to enhance the company's cash flow.

Stora Enso has stated that the delays were carried out transparently and communicated internally to relevant stakeholders, including finance and sourcing teams.

Suppliers notified individually

The company emphasised that suppliers affected by the delay were informed on a case-by-case basis. Stora Enso has ensured that the invoices related to the postponed payments have been settled.

The financial impact of these delays has been described as negligible in the context of the company's overall cash flow and liquidity.

Financial performance and upcoming report

Stora Enso, a global leader in renewable products and part of the bioeconomy sector, stated that it remains committed to maintaining transparency with its suppliers and stakeholders.

The company plans to publish its third-quarter financial report for 2024 on 24 October, offering a broader insight into its financial health.

Stora Enso is known for its production of fibre-based products, biomaterials, and wooden construction materials, positioning itself as a key player in the global push for renewable and sustainable packaging solutions.

The company employs approximately 20,000 people, with sales reaching EUR 9.4 billion in 2023.