UPM Annual Report 2017 published

We highlight the results of the company’s transformation and illustrate how we create economic, social and environmental value from our operations.


UPM Financial Statements Release 2017

Excellent finish to the record-strong year 2017

Q4 2017 highlights

  • Comparable EBIT increased by 29% to EUR 366 million (283 million in Q4 2016).
  • Sales prices and delivery growth boosted earnings, outstripping the impact of higher input costs and unfavourable currencies.
  • Strong operating cash flow at EUR 407 million (405 million).
  • Net debt decreased to EUR 174 million (1,131 million).
  • UPM and the Government of Uruguay signed an agreement on local prerequisites for a possible new pulp mill.
  • UPM announced the next step towards entering a new sustainable biochemicals business.
  • UPM announced a new growth project at the UPM Chudovo plywood mill in Russia.
  • UPM closed graphic paper capacity in the US and announced plans to optimise operations in Germany.
  • UPM Kymi pulp mill expansion and the UPM Raflatac expansion in Poland were completed.

2017 highlights 

  • Comparable EBIT increased by 13% to EUR 1,292 million (1,143 million in 2016).
  • Strong profit performance continued through a turn in input cost environment.
  • Higher delivery volumes contributed to the comparable EBIT growth.
  • Strong operating cash flow at EUR 1,558 million (1,686 million).
  • The Board proposes a dividend of EUR 1.15 (0.95) per share, representing 39% of operating cash flow per share.
  • UPM started focused growth investments at the Kaukas pulp mill and the Tampere label stock factory.
  • UPM divested UPM Paper ENA’s hydropower assets in Germany, Austria and the US.
  • UPM closed a total of 433,000 tonnes of graphic paper capacity during 2017, targeting total annual cost savings of EUR 60 million

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20.03.2018 at 11:24 EET

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