UPM has published its Interim report Q3/2014. Key figures from Q3 2014 compared with Q3 2013 include:
• Earnings per share excluding special items were EUR 0.32 (0.26), and reported EUR 0.34 (0.26)
• Operating profit excluding special items increased to EUR 235 million, 9.7% of sales (194 million, 7.8% of sales), due to the success of the profit improvement programme
• EBITDA was EUR 346 million, 14.3% of sales (311 million, 12.6% of sales)
• The full targeted annualised cost savings of EUR 200 million were achieved in Q3 2014, ahead of schedule
Jusi Pesonen, CEO of UPM, comments on the report:
“UPM posted a strong third quarter 2014 thanks to the success of the profit improvement programme and very good operational efficiency in all businesses. I’m particularly pleased with our cash flow performance and balance sheet as this provides the foundation for both dividend growth and the ability to continue the transformation of the company.”
