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Calculation of key figures
Operational return on capital employed, operational ROCE (%) 100 x Operational EBIT
Capital employed1, 2
Operational return on operating capital, operational ROOC (%) 100 x Operational EBIT
Operating capital1, 2
Return on equity, ROE (%) 100 x Net profit/loss for the period
Total equity 2
Net interest-bearing net liabilities Interest-bearing liabilities – interest-bearing assets
Debt/equity ratio Net interest-bearing net liabilities
EPS Net profit/loss for the period3
Average number of shares
Payout ratio, excl. IAC, % 100 x Dividend distribution / share
EPS excl. IAC
Dividend and distribution yield, % 100 x Dividend distribution / share
Closing price of share
Price/earnings ratio (P/E), excl. IAC Closing price of share
EPS excl. IAC
Operational EBIT Operating profit/loss excluding items affecting comparability (IAC) and fair valuations of the segments and Stora Enso’s share of operating profit/loss excluding IAC and fair valuations of its equity accounted investments (EAI)
Operational EBITDA Operating profit/loss excluding operational decrease in the value of biological assets, fixed asset depreciation and impairment, share of results of equity accounted investments, IAC and fair valuations.
Last 12 months (LTM) 12 months prior to the reporting date
1 Capital employed = Operating capital – Net tax liabilities
2 Average for the financial period
3 Attributable to owners of the Parent
List of non-IFRS measures
Operational EBITDA
Operational EBITDA margin
Operational EBIT
Operational EBIT margin
Capital expenditure
Capital employed
Operational ROCE
Earnings per share (EPS), excl. IAC
Operational ROOC
Cash flow from operations
Cash flow after investing activities

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