AOX (Adsorbable organic halogen compounds)
Collective term for the amount of chlorine bound to organic pollutants, in waste water for example.
ATF (American Tree Farm system).
Fuels derived from renewable raw materials, such as bark, black liquor and logging residuals.
Habitat. An area that is naturally distinct as a result of its local climate, soil conditions, flora and fauna.
BOD (Biological Oxygen Demand)
A measure of the amount of oxygen consumed by micro-organism in breaking down organic matter in effluent during a certain period.
Forestry certification criteria of the Canadian Standards Association program for Sustainable Forest Management.
CO2 (Carbon dioxide)
Carbon dioxide is formed as a result of human and animal respiration. It is also formed during combustion. Trees utilise carbon dioxide in the growing process (photosynthesis). Carbon dioxide in the atmosphere is considered to contribute to the greenhouse effect.
COD (Chemical Oxygen Demand)
Chemical oxygen-consuming substances. A measure of the amount of oxygen required for the total chemical breakdown of organic substances in water.
EMS (Environmental Management System).
EMAS (Eco-Management and Audit Scheme)
A voluntary environmental management system applicable in Europe, based on EU regulations.
FFCS (Finnish Forest Certification System).
FSC (Forest Stewardship Council).
ISO (International Organization for Standardization).
An international standard created for corporate environmental management systems by the International Organization for Standardization (ISO); applicable world-wide.
LCA (Life Cycle Assessment)
A method for assessing the environmental impact of a product "from the cradle to the grave".
To abstain from procuring wood from officially confirmed or planned conservation areas or from other agreed areas, whose ecological values are being assessed.
An element. A high nitrogen content in water, together with phosphorus and organic substances, can lead to increased biological activity in water, known as eutrophication.
A collective term for the nitrogen oxides formed during combustion. When precipitation occurs, they can contribute to the acidification of soil and water. NOx can also, together with hydrocarbons, react with sunlight to form ground-level ozone.
PEFC (Pan-European Forest Certification).
An element. High phosphorus contents, combined with nitrogen and organic substances, can cause increased biological activity in water, known as eutrophication.
SFI (Sustainable Forestry Initiative of the American Forest & Paper Association).
SFM SM (Canadian Standards Association programme for Sustainable Forest Management).
SO2 (Sulphur dioxide)
Sulphur dioxide is formed when sulphur-containing fuels such as oil and coal are burned. Sulphur dioxide contributes to the acidification of soil and water.
Abbreviations and conversion table for units of measurement
TJ: Terajoule (1 000 billion joules)
GWh: Gigawatt hours (1 billion watt-hours)
TWh: Terawatt hours (1 000 billion watt-hours)
ha: Hectare (10 000 m 2 or 100x100 m)
1 million gallons = 3 785.4 cubic metres
1 short ton = 0.907 metric tonnes
1 million BTU = 1.055056 GJ
1 Great Lakes rough cord = 2.33 cubic metres of solid wood under bark
Cash earnings per share
Formula: (Profit for the period + Depreciations) / Average number of shares
Shows the amount of dividend in proportion to a share's market price. The price used is usually the market price at the end of the period under review, for example the end of a financial year.
Formula: 100 x Dividend per share / Share price at the close of the period
Shows the amount of net debt in proportion to equity capital. Stora Enso's target is a debt/equity ratio at or below 0.8
Formula: Interest-bearing net liabilities / (Equity + Minority interests)
Dividend per share
Formula: Dividend for the period / Number of shares
EPS Earnings per share.
Formula: Profit for the period / Average number of shares
Equity per share
Shows how much of a company's equity one share represents. If the market price is greater than the equity per share, the market believes that the company will generate extra value.
Formula: Equity / Number of shares at the close of the period
Shows the amount of equity in proportion to total assets. Formula: 100 x (Equity + Minority interests) / Total assets
Interest-bearing net liabilities
Formula: Interest-bearing liabilities - Interest-bearing assets
Shows how much of a company's profit is distributed as dividend. Stora Enso's target is to distribute a third of profits as dividend over the business cycle.
Formula: 100 x Dividend per share / Earnings per share
Shows a share's market price in proportion to its earnings. Calculated by dividing the share price by the reported or forecast annual earnings per share. For an investor this means that, if the P/E ratio is 10, the price is equivalent to ten years' earnings. The figure illustrates expectations of future company growth. In comparisons, it is best used for companies operating in the same field.
Formula: Share price / Earnings per share
Return on Operating Capital
Shows how productively a company is using its operating capital. Stora Enso uses this formula for the product areas.
Formula: 100 x Operating profit / Operating capital *2)
Return on Capital Employed
Shows the same as ROOC, but with operating capital reduced by net tax liabilities. It is used as a corporate key figure in Stora Enso. The company's target for ROCE is 13% over the cycle.
Formula: 100 x Operating profit / Capital employed *1) *2)
Return on Equity
Formula: 100 x (Profit before tax and minority items - Taxes) / (Equity + Minority interests) *2)
*1) Capital employed = Operating capital - Net tax liabilities
*2) Average of beginning and close of financial period
A layer of coating slip (coating colour), comprising pigment and binding material. It is used to give a smoother, often glossier surface to improve the printability of paper or board. Coating is applied to one or both sides of the paper or board.
Wood material of coniferous trees, typically pine or spruce
Cubic metre used, for example, to express the amount of wood.
Recycled paper or board which after being repulped and deinked is used as a raw material.
Wood material of broad-leaf trees such as birch, beech or eucalyptus
Used paper such as newspapers, magazines and office paper. It may be collected for recycling.
During the cooking process, the binding agent lignin is removed from the wood. The lignin residue and other substances remaining after cooking tend to discolour the pulp brown or yellow. Bleaching using, for example, chlorine dioxide, hydrogen peroxide and ozone, provides the pulp with the desired brightness and protection against aging.
Pulp produced by using cooking chemicals. The chemicals dissolve lignin, the hard component of wood to release the fibres.
Chemi-thermomechanical pulp is produced by refining chemically impregnated, pre-heated woodchips.
Deinked pulp. A wastepaper pulp which has been deinked through chemical or mechanical processing.
Elementary Chlorine Free. ECF pulp is bleached without using elemental chlorine (chlorine gas).
A special sulphate (kraft) or CTMP pulp used for absorbent materials, such as diapers and feminine hygiene products. After dry defibration the pulp takes on a cotton-like appearance.
Long fibre pulp:
Pulp produced from long fibre wood, (soft wood pulp)
Pulp produced by mechanically separating the wood fibres from one another. The pulp is produced from debarked wood which is either applied to a grindstone (SGW, stone groundwood pulp), or cut into chips and ground in refiners (TMP, thermo mechanical pulp, or PGW, pressure groundwood).
Neutral sulphite. Neutral sulphite semi-chemical (NSSC) pulp is produced by cooking woodchips in a neutral sulphite solution.
A part of the bleaching process using oxygen gas, alkali solution and stabilizing substances.
Short fibre pulp:
Pulp produced from short fibre wood
Sulphate (kraft) pulp:
Chemical pulp produced by cooking woodchips in an alkaline solution of sodium hydroxide and sodium sulphide.
Chemical pulp produced by cooking woodchips in a solution of calcium-, sodium- or magnesium-sulphite.
Totally Chlorine Free. TCF pulp is bleached without chlorine and chlorine compounds.
Thermomechanical pulp. A mechanical pulp produced by the pressurized pre-steaming of woodchips prior to defibration in a refiner.
LWC, MWC, HWC:
Light-weight, medium-weight and heavy-weight coated papers are produced from mechanical and chemical pulp. The paper is coated to provide a high- quality printing surface. Used for special and general interest magazines, catalogues and advertising materials.
Machine-finished and machine-finished coated papers are produced from mechanical and chemical pulp. The soft calendering gives a matt finish to the surface. Used for special and general interest magazines, catalogues and advertising materials.
Super-calendered paper is an uncoated paper produced from mechanical, chemical and deinked pulp and filler. The paper is calendered to achieve a glossy printing surface. Used for magazines, catalogues and advertising materials.
Various furnish mixes are used in newsprint production. Newsprint may contain recycled fibre (up to 100%), mechanical pulp (TMP, SGW pulp) and sometimes also sulphate (kraft) pulp.
Fine Paper (free sheet, woodfree paper)
Coated fine papers:
Fine papers with a pigmented surface layer which increases the uniformity of the printing surface and provides improved printing properties, particularly for the reproduction of illustrations.
Printing, writing and office papers of the finest quality, produced from a bleached chemical pulp with very little or no mechanical pulp. May be either coated or uncoated.
One-side machine-coated or cast-coated papers for labels for the beverage and food industry.
Recycled fibre-based fine papers:
Uncoated fine papers produced from pulps based on recovered and recycled office and printing waste-papers.
Custom-designed coated and uncoated papers designed and produced to meet the unique packaging, printing and labelling needs of customers with diverse and highly specialized paper needs.
Coated Kraft Back Boards (CKB):
Board consisting of either bleached chemical pulp or a mineral-coated top layer or both, an unbleached back and a middle layer of unbleached chemical and/or mechanical pulp. CKB is used for packaging food and non-food products.
Coreboard is produced from recovered papers, sometimes combined with a small proportion of primary wood pulp. Corbeoard is used to produce papercores.
Paper cores produced from coreboard are used by the paper and board, textile-yarn and plastic-film industries.
Corrugated board consists of surface layers of liners glued to a rippled board layer of fluting or wellenstoff. The liner grades may be any of those listed above.
FBB and SBS boards are used for paper cup production. The boards are plastic-coated and suitable for cold or hot beverages and for food and non-food packaging.
Folding Boxboard (FBB):
A multi-layer board, often mineral-coated, with an outer layer of sulphate (kraft) pulp and middle layer of mechanical pulp (groundwood, pressure groundwood or TMP). In the top grades also CTMP pulp may be used. Used primarily for consumer cartons for packaging dry and moist foods, cigarettes and other consumer products. The board is also used in the graphic industry for catalogue covers, postcards and folders, etc.
Board made of recovered fibres and used for cartons and boxes in various packaging applications, as dividers, display boards and for book-binding. It is often laminated with other papers and boards.
Unbleached Kraftliner is produced from unbleached sulphate (kraft) pulp, and used for corrugated board. Fully Bleached Kraftliner is produced from bleached sulphate pulps and is used as top layer in corrugated boards. White Top Liner and White Mottled Kraftliner have bleached top layers and unbleached body and are typically used as the surface layer for corrugated board. The surface of White Top Coated liner is additionally coated with mineral pigments to improve printability for high demand uses.
Saturating base kraft papers and phenolic resin impregnated papers.
Liquid Packaging Boards, milkstock (LPB):
Any of the above grades, FBB, SBS, SUS and CKB, used to pack liquid food and non-food products. They are plastic coated for fresh beverages and often laminated for long-life beverages. They are used by all major liquid packaging systems.
MG kraft paper:
One-sided calendered paper produced mainly from sulphate (kraft) pulp. Used for paper bags, wrapping paper, carrier bags, flexible packaging, etc.
Phenolic Resin Impregnated Papers:
Core Stock is used in the laminate industry as the core material in decorative high-pressure laminates, such as compact, fire-retardant and post-forming laminates.
Plastic coating and laminating:
Papers and boards may be coated by polymers, typically polyethylene, and/or laminated with other materials, typically aluminium foil, plastic film or other paper and board. Plastic coating and laminating provides barrier and other functional properties, making it possible to select raw material for a specific end use from alternative paper groups.
Paper used for the production of bags and sacks. Made from sulphate (kraft) pulp, with high-strength properties.
Saturated Base Kraft (SBK):
Brown Absorbex® Kraft Paper is produced from unbleached sulphate pulp made from sawdust. Brown Absorbex® is used mainly in decorative high-pressure laminates (HPL). White Absorbex® Kraft Paper is manufactured from bleached sulphate pulp and is used for electrical applications.
Boards made from unbleached semi-chemical pulp and used as a middle layer for corrugated board.
Solid Bleached Sulphate Board (SBS):
A board consisting of one or several layers of bleached chemical pulp, often also pigment-coated. Used in the graphic industry and for various consumer cartons for packaging dry and moist food products. In the non-food sector SBS boards are typically used for cigarette and luxury goods cartons.
Solid Unbleached Sulphate Board (SUS):
Boards consisting of a bleached chemical pulp top layer, an unbleached back and unbleached chemical and/or mechanical pulp middle layers. SUS Boards are used for food and non-food cartons.
Testliners are linerboards made partly or wholly from recovered fibres. The range, covering unbleached, white top, mottled and coated grades, is used by the corrugated board industry.
Boards made from recovered fibres and used as a middle layer for corrugated board.
White Lined: Chipboard (WLC):
Boards made mainly or wholly from recovered fibres, often mineral coated, and used for consumer cartons for dry food and non-food products.