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UPM rewarded its employees for good performance by paying EUR 51 million in incentives

Press Release 2.3.2021 11:00 EET

UPM's goal is to develop, encourage and reward every employee in their work. UPM paid a total of EUR 51 million as short-term incentives to employees in 2020. The incentives were paid for the good 2019 results and for personal success in one's own work. The figures are outlined in the Annual Report that was published today. Over the last five years, UPM has paid nearly EUR 300 million in incentives to its employees.

The incentives are mainly determined by the financial indicators, of which EBITDA is the most important. In addition, every employee can earn one-third of the incentive by the achievement of personal and/or team performance targets. Last year, UPM employees earned on average of 5.6%, or approximately EUR 3,200, additional income from the company's incentive schemes.

UPM's incentive scheme applies to all employees in the company's 46 operating countries. The group-wide incentive scheme enables employees to have an effect on their earnings by achieving targets. UPM's Board of Directors decides on the incentive scheme annually. The incentives are UPM’s voluntary way to encourage personnel for high performance.

For already 15 years, all UPM employees in all professional groups and all organisations have belonged to a unified annual Short-Term Incentive (STI) scheme, which is evaluated annually.

For further information please contact:
Riitta Savonlahti, Executive Vice President, Human resources, UPM, tel. +358 2041 50048

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,000 people worldwide and our annual sales are approximately EUR 8.6 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

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