​​​​UPM Biorefining

UPM Biorefining consists of pulp, timber and biofuels businesses. UPM has three pulp mills in Finland and one mill and plantation operations in Uruguay. UPM operates four sawmills in Finland. UPM‘s biorefinery producing wood-based renewable diesel started up in early 2015. Its main customers are tissue, speciality paper, graphic papers and board producers in the pulp industry, oil refiners, blenders, fuel distributors and retailers in the biofuels industry and construction and joinery industries in the timber sector.​

​Our direction

  • In Pulp: Provide customers with direct access to the most versatile pulp range and advanced technical service. Maintain cost competitiveness through continuous operational improvement. Grow as a responsible and cost-efficient pulp supplier.
  • In Biofuels: Provide unique, sustainable, advanced biofuels in various markets and segments, achieve top performance, evaluate opportunities for scaling up biofuels business.
  • In Timber: Enhance profitability through efficient use of wood supply, integrated full-production and focused commercial strategy. A streamlined business model to secure position in chosen key markets and end-use segments.

Our strengths

  • Versatile range of sustainably produced pulp grades suitable for a wide range of end-uses
  • Modern, efficient mills and business committed to growth
  • Responsibility integrated in all operations from wood sourcing to logistics
  • Established producer of advanced renewable diesel and naphtha
  • Competitive sawmills with skilled own global sales and logistics network
  • Synergistic supply chain of wood for sawn timber, pulp and renewable fuels

UPM Biorefining value created

Important Image
Important Image

Growth drivers

Pulp and timber

  • Demand growth of consumer goods
  • Population growth, increasing income levels
  • Growth of e-commerce
  • Urban lifestyle
  • Demographic change
  • Environmental consciousness
  • Decreasing supply of white recycled fibre

Advanced biofuels

  • Climate change
  • Sustainability
  • Pressure to replace fossil fuels with renewables
  • Low carbon mobility
  • Pressure to reduce greenhouse gas and tailpipe emissions in transport
  • Increasing the EU’s self-sufficiency in energy

Key figures

​Sales, EURm​2,531
​Comparable EBIT, EURm587
% of sales 23.2
​Capital employed (average), EURm​3,225
​Comparable ROCE , %​18.2
​Personnel on 31 December​2,628


Business areas

Driving for top performance in all business areas

UPM as an investment

Targeting attractive total return

Financial targets

Profitability improved in 2017