UPM Interim Report 2019:
UPM reports good performance and strong financial position - Uruguay decision drives significant future earnings growth
Q3 2019 highlights
- Sales decreased by 6% to EUR 2,493 million (2,650 million in Q3 2018)
- Comparable EBIT decreased by 19% to EUR 342 million (420 million)
- Sales prices decreased in pulp, outweighing the impact of lower variable costs in all business areas
- UPM announced the transformative investment in Uruguay for significant future earnings growth, and further plans to safeguard competitiveness in UPM Communication Papers
- Operating cash flow increased to EUR 500 million (405 million)
- Net debt decreased to EUR -2 million (4 million)
Q1-Q3 2019 highlights
- Sales grew by 1% to EUR 7,791 million (7,752 million in Q1–Q3 2018)
- Comparable EBIT decreased by 4% to EUR 1,061 million (1,109 million)
- Operating cash flow increased to EUR 1,256 million (947 million)
- In July, UPM announced a USD 2.7 billion investment in a 2.1 million tonne eucalyptus pulp mill near Paso de los Toros, Uruguay
- In July, UPM closed paper machine 10 at UPM Plattling, Germany
- In September, UPM announced plans to close paper machine 2 at UPM Rauma, Finland, to sell UPM Chapelle newsprint mill in Grand-Couronne, France and to establish a new Business Services Hub in Wroclaw, Poland