Stora Enso Full Year Results 2003.

(From Hugin)

Operating profit weak; proposed dividend unchanged at EUR 0.45 Stock Exchange Release 4 February 2004 at 11.00 GMT

Fourth Quarter Results Stora Enso's earnings per share excluding non-recurring items were EUR 0.00 (EUR 0.09). Operating profit excluding non-recurring items was EUR 80.5 (EUR 139.8) million, which is 42.4% less than in the previous quarter and 2.7% of sales. Profit before taxes and minority interests excluding non-recurring items amounted to EUR 7.8 (EUR 107.4) million. Non-recurring items in the operating profit totalled EUR -14.5 million due to the write-down for the expected capital loss on the sale of forestland in Ontario, Canada. Non-recurring items in net financial items totalled USD -61.1 (EUR -54.0) million due to the provision for the expected losses from the termination of the US cross-border leasing contracts. Sales of EUR 3 028.8 million were 1.4% higher than the previous quarter's EUR 2 987.4 million. Cash flow from ongoing operations …