"The main reasons behind the weaker estimates are lower sales prices, increasing costs and a weaker market supply-demand situation compared to a year ago", Stora Enso said in a statement.

Taking into account a positive tax effect of approximately 56 million euros, the estimated negative net impact will be around 668 million euros, the company said.

Stora Enso will report its full-year results on February 11.

In October, Stora Enso reported a 6.9 percent drop in sales to 6.7 billion euros in the first nine months of 2024, and a net profit of 195 million euros for the same period.