Helsinki, Finland, 2014-07-21 11:59 CEST(GLOBE NEWSWIRE) -- STORA ENSO OYJ STOCK EXCHANGE RELEASE 21 July 2014at 12.59 EET Stora Ensowill record non-recurring items (NRI) with a negative net impact of approximately EUR 106 millionon operating profit and a positive impact of approximately EUR 1 millionon income tax in its second quarter 2014 results. The NRI will decrease earnings per share by EUR 0.13. Corbehem Millplanned closure The main item is a negative NRI in Printing and Reading of approximately EUR 81 milliondue to the planned permanent closure of the loss-making Corbehem Millin France, including approximately EUR 7 millionof non-cash write-down. The cost of the planned closure is based on the French legal requirements. Since October 2012, Stora Ensohas been actively searching for a solid new owner for Corbehem Milloffering a sustainable and long-term solution for the site and its employees. Despite significant efforts involving M&A and legal advisors and a dedicated project team, this search proved unsuccessful. The total operational EBITDA of the unit since the beginning of the process was a negative EUR 34 million. The mill has been at standstill since January 2014. The employee representativesí information and consultation process at the mill has now been completed. The social plan negotiated and concluded with the trade unions was validated by the French labour authorities on 10 June 2014. Under this social plan, Stora Ensowill offer support to Corbehem Millemployees to alleviate the consequences of the redundancies related to the closure of the mill. Other non-recurring items -- a negative NRI in Printing and Reading of approximately EUR 34 milliondue to fixed asset impairments and inventory write-downs related to the ongoing disposal of Uetersen Millin Germany. The transaction will be delayed from the original target of mid-July due the regulatory approval process. -- a negative NRI in the segment Other of approximately EUR 9 milliondue to termination of an agreement in logistics operations. -- a positive NRI in the segment Other of approximately EUR 18 milliondue to land swap arrangements in the Groupís equity accounted investment Bergvik Skog. Allocation of NRI* between segments Segment EUR million --------------------------------- --------------------------------- Printing and Reading -115 Biomaterials - Building and Living - Renewable Packaging- Other 9 ------------ Operating Profit -106 Income tax 1 ------------ Net Profit -105 --------------------------------- *NRI = Non-recurring items. These are exceptional transactions that are not related to normal business operations. The most common non-recurring items are capital gains, additional write-downs, or reversals of write-downs, provisions for planned restructuring and penalties. Non-recurring items are normally disclosed individually if they exceed one centper share. For further information, please contact: Seppo Parvi, CFO, tel. +358 2046 21205 Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 2046 21242 www.storaenso.comwww.storaenso.com/investors Stora Ensois the global rethinker of the paper, biomaterials, wood products and packaging industry. We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. Stora Ensoemploys some 29 000 people worldwide, and our sales in 2013 amounted to EUR 10.6 billion. Stora Ensoshares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm(STE A, STE R). In addition, the shares are traded in the USAas ADRs (SEOAY) in the International OTCQX over-the-counter market. STORA ENSO OYJCopyright © 2014 OMX AB (publ).