Stora Enso normally pays its invoices once a week. But the last week of September, the payments have been postponed until the fourth quarter, according to the management's instruction to the staff, an email that Di has taken part of. This way, the forestry company can short-term improve its own cash flow when the quarterly accounts are closed in the shift September/October.
And if any supplier asks where the money is: Blame internal problems, is the instruction.
According to Di, Stora Enso has used the same procedure at the half-year shift.
The company responds as follows to Di about the business method where suppliers have to wait longer for the money: "Although it is naturally not an optimal measure to pay suppliers late, it is a relatively established method."
