UPM Annual Report 2016 published

2016 was a record-strong year for UPM. Creating shareholder value is at the core of our strategy.


​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​UPM Financial Statements Release 2016

UPM finishes a record-strong year with a good quarter​​​


Q4 2016 Highlights


  • Comparable EBIT increased by 15% to EUR 283 million (247 million). 
  • High maintenance activity resulted in temporarily higher fixed costs and lower operational efficiency. 
  • Growth projects contributed significantly to earnings. 
  • Strong operating cash flow at EUR 405 million (390 million). 
  • The Otepää plywood mill expansion and UPM Kaukas pulp mill investment started production. 
  • In October, UPM announced a new self-adhesive label stock investment in Poland to meet the growing demand in Europe. 
  • In November, UPM announced plans to close 305,000 tonnes of SC paper capacity in Germany and Austria.

2016 Highlights


  • Comparable EBIT increased by 25% to EUR 1,143 million (916 million). 
  • Growth projects contributed significantly to earnings and cost efficiency measures continued on a strong track. 
  • Operating cash flow reached a record high of EUR 1,686 million (1,185 million). 
  • Net debt decreased to a record low of EUR 1,131 million (2,100 million). 
  • UPM closed the Madison Paper Industries in the US in May and sold the Schwedt newsprint mill in Germany in July. 
  • In July, UPM announced expansion of the UPM Kymi pulp mill capacity to 870,000 tonnes. 
  • The Board proposes a dividend of EUR 0.95 (0.75) per share, representing 30% of operating cash flow per share


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