UPM Half Year Financial Report 2019:
Margin management delivered continued earnings growth
Q2 2019 highlights
- Sales grew by 1% to EUR 2,605 million (2,589 million in Q2 2018)
- Comparable EBIT increased by 3% to EUR 345 million (334 million)
- Cost environment started to moderate, fixed costs decreased mainly due to lower maintenance activity
- Operating cash flow increased to EUR 436 million (328 million)
- Net debt decreased to EUR 366 million (401 million)
H1 2019 highlights
- Sales grew by 4% to EUR 5,298 million (5,102 million in H1 2018)
- Comparable EBIT increased by 4% to EUR 719 million (689 million)
- Sales prices were higher, outweighing the impact of increased variable costs
- Operating cash flow increased to EUR 756 million (542 million)
- UPM decided to close Paper Machine 10 at UPM Plattling, Germany