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Covid-19 pandemic is affecting global health and creating some uncertainty and volatility in the business environment. Stora Enso Investor Relations has received some questions from investors and analysts related to the Covid-19 and its impacts on our business operations. Please find below some typical questions and answers.
Q: What precautions have you taken against Covid-19?
A: Stora Enso takes active and precautionary measures to mitigate the effects of the pandemic. The Covid-19 impacts on employees and contractors remained stable and under control during the third quarter of 2021.
Protecting employees’ and contractors’ health and safety during the pandemic has been Stora Enso's key priority. By being proactive and having extensive measures in place, we have been able to continue operations and serve customers with minimal disruptions. Stora Enso has secured the health and safety of its employees by various measures and closely monitoring the Covid-19 situation. We have instructed our employees to monitor their health, follow the advice of the health authorities, and remote working is encouraged in the workplaces where this is possible. Currently, we are introducing hybrid working models globally. Our Sourcing & Logistics team provides ongoing guidance regarding visits by contractors and suppliers.
Q: How Covid-19 impacted on your Q3/2021 performance y-o-y?
A: Improved global economy and Covid-19 related recovery supported the overall demand for Stora Enso products during the quarter compared to the previous year. In Packaging Materials and Packaging Solutions, demand improved compared to the previous year, and Covid-19 did not have any material impact on our markets or business operations. We provide vital packaging materials to our customers, many of whom serve the medical, hygiene and food industries. The demand in these end usages has remained healthy or even improved during the pandemic. In Wood Products, demand and prices increased compared to the previous year due to strong global demand for classic sawn products. The pandemic has significantly increased renovation and DIY (“Do it yourself”) building activities both in Europe and overseas markets. The Covid-19 negative impact on Paper division’s performance was less significant compared to year ago as a result of continued opening up of European economies. In Biomaterials and Forest divisions, markets or business operations were not affected by the Covid-19 pandemic.
Q: Have your units and mills been operating normally despite Covid-19?
A: Covid-19 did not cause any production disturbances on our units in the third quarter of 2021. As a company, our duty is to ensure the health and safety of our colleagues and to make sure we can continue to provide important materials to our customers globally.