Antti has written a company report on Stora Enso regarding Q2 
The overall picture of Stora Enso’s Q2 report was, in our opinion, lackluster. The difficult market situation shows little sign of recovery, and boosting earnings through one’s own efforts is, at best, slow. Based on earnings, we do not believe Stora Enso’s stock is priced particularly attractively, but we do believe there is hidden value on the balance sheet (Q2’26 TOT P/B 0.6x). The stock is also inexpensive compared to a sum-of-the-parts valuation looking at the longer term, and the planned split could unlock the undervaluation.