Stora Enso expects production cuts in its Wood Products segment

Finnish forestry giant Stora Enso posted its best annual results in more than 20 years although profit declined in the fourth-quarter with the company warning that margins are likely to be squeezed by increasing costs this year. "Stora Enso enters the new year with market softness and variable cost pressures which are expected to be more challenging in 2023 than in 2022 weighing on our results this year," the company said in a statement. Despite a 5% increase in sales, operational earnings before interest and tax (EBIT) in the fourth quarter decreased 17% to 355 million euros ...