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Stora Enso Q3 profit climbs 24.4% YOY

Stora Enso Oyj said its third-quarter normalized net income amounted to 20 euro cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.

EPS increased 24.4% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €159.4 million, an increase of 24.4% from €128.1 million in the year-earlier period.

The normalized profit margin climbed to 6.4% from 5.4% in the year-earlier period.

Total revenue climbed year over year to €2.51 billion from €2.39 billion, and total operating expenses climbed on an annual basis to €2.22 billion from €2.18 billion.

Reported net income increased 50.0% year over year to €189.6 million, or 24 cents per share, from €126.4 million, or 16 cents per share.