Essity

Business in Russia

Work has been initiated to exit the Russian market but the comany received almost the same amount of revenue in 2022 as in 2021. The hygiene and health company Essity has completed the divestment of its operations in Russia for a purchase price of approximately SEK 1.2bn on a cash and debt-free basis. Essity has thus exited Russia. Essity began work in April 2022 to exit the Russian market and in 2022 an impairment was carried out of the company’s assets in Russia of approximately SEK 1.7bn.

Decision trail

Decision date 17/07/2023 · Reference ↗

In 2022, the Swedish Essity (brands Libresse, Zewa, Tork and Tena) localized the production of more than 70 products in Russia, the production of which is "maximum independent" of imported raw materials. Essity divests Russian operations (promised to finalize the transaction till the end of June 2023). Essity has exited the Russian market. In 2022, Essity’s net sales in Russia corresponded to about 2% of its total consolidated net sales. The buyer is the company New Technologies LLC, with the principal owner Igor Shilov. The earnings impact, including accumulated currency translation differences, amounts to approximately SEK -0.5bn and will be reported as an item affecting comparability in the third quarter of 2023. The company managing the former assets of the Swedish paper manufacturer Essity has changed owners. Among them are Nikolai Gushchin-Kuznetsov, who may be associated with the Guta group of Yuri Gushchin, as well as funds managed by a Gazprombank structure. 19.05.2025: The entry about the founder of ESSITY HYGIENE PRODUCTS LLC has been removed from the Unified State Register of Legal Entities. EDELWEISS JSC becomes the new founder of ESSITY LLC.

Local stats (LeaveRussia)

Status history since 2022

1. 03/08/2026 — exited · Imported from KSE LeaveRussia

Exposure profile