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UPM Q1 2019 Interim Report will be published 26 April

You’re welcome to listen to UPM’s live webcast on 26 April at 13:15 EET. Please register below to access the webcast.


UPM Financial Statements Release 2018:
UPM delivered record earnings in 2018 – in a strong position for 2019

Q4 2018 highlights

  • Sales grew by 6% to EUR 2,731 million (2,571 million in Q4 2017)
  • Comparable EBIT increased by 10% to EUR 404 million (366 million)
  • Sales prices increased in all business areas, outweighing the impact of higher input costs
  • Operating cash flow was strong at EUR 420 million (407 million) 
  • Net debt decreased to EUR –311 million (174 million)
  • UPM increased the fair value of its forest assets in Finland by EUR 345 million, mainly due to higher forest growth estimates
  • UPM Jämsänkoski release liner expansion in Finland was completed

2018 highlights

  • Sales grew by 5% to EUR 10,483 million (10,010 million in 2017)
  • Comparable EBIT increased by 17% to EUR 1,513 million (1,292 million)
  • Sales prices increased in all business areas, outweighing the impact of higher input costs and unfavourable currency exchange rates
  • Operating cash flow was EUR 1,391 million (1,558 million), held back by an increase in working capital
  • The Board proposes a dividend of EUR 1.30 (1.15) per share, an increase of 13% from previous year 
  • UPM initiated focused investments in Germany, Finland and China to grow in the attractive release liner segments

UPM Investor Presentation 2019


Each of our six business areas has a clearly defined strategic role in UPM. Our businesses are varied but they all are united by our Biofore vision, and a single sense of purpose: to create value to our customers in a responsible and sustainable manner.


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