News within the industry of pulp and paper, Aug, 24 2017
Latest News

UPM sales increased by 1 per cent in 2Q

Photo: UPM
Photo: UPM
Published by
Simon Matthis - 27 Jul 2017

UPM's 2Q 2017 sales were Euro 2,464 million, 1% higher than the Euro 2,445 million for 2Q 2016.

Comparable EBIT increased by 2% to Euro 270 million, 11% of sales. Comparable EBIT increased mainly due to lower depreciation.

2Q operating profit totalled Euro 269 million, compared to Euro 262 million in 2Q 2016. Items affecting comparability in operating profit totalled charges of Euro 1 million.

Profit for 2Q 2017 was Euro 205 million, and comparable profit was Euro 205 million.

1H 2017 sales were Euro 4,946 million, 1% higher than the Euro 4,891 million for January–June 2016. Comparable EBIT increased by 5% to Euro 575 million, 11.6% of sales.

 

1H 2017 operating profit totalled Euro 581 million, compared to Euro 539 million in 1H 2016. Items affecting comparability in operating profit totalled gains of Euro 7 million.

 

Profit for 1Q-2Q 2017 was Euro 444 million, and comparable profit was Euro 440 million.

 

Jussi Pesonen, President and CEO, comments on the 2Q result: "UPM's comparable EBIT continued on an increasing track in 2Q despite clearly higher maintenance activity during the quarter. Operating cash flow was solid at Euro 269 million and net debt decreased to Euro 1,046 million.

 

Market demand was good and delivery growth continued in most businesses during the quarter. As expected, the higher maintenance activity resulted in temporarily higher fixed costs and lower operational efficiency. Moderate cost inflation continued but was mitigated by our own cost reduction measures and targeted price increases. Overall business conditions were favourable resulting in good performance.”

 

Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Paper ENA and UPM Plywood.