UPM Financial Statements Release 2017 was published January 31

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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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