UPM Interim Report Q3 2021:
UPM delivers a record quarter in an exceptionally volatile global environment
Q3 2021 highlights
- Sales increased by 24% to EUR 2,523 million (2,028 million in Q3 2020)
- Comparable EBIT increased by 98% to EUR 424 million, 16.8% of sales (215 million, 10.6%)
- Operating cash flow was EUR 318 million (365 million)
- Demand for UPM’s products was good, and overall, price increases more than offset the rapid rise in input costs
- UPM completed the sale of the UPM Shotton newsprint mill in the UK
- The global sustainability ratings provider EcoVadis recognised UPM on the highest possible Platinum level for its responsible performance in 2021
- UPM was recognised as one of the world’s 37 most sustainable companies by the UN Global Compact
Q1 - Q3 2021 highlights
- Sales increased by 12% to EUR 7,141 million (6,392 million in Q1–Q3 2020)
- Comparable EBIT increased by 45% to EUR 1,010 million (697 million), and was 14.1% (10.9%) of sales
- Operating cash flow was EUR 844 million (659 million)
- UPM's transformative growth projects made good progress
- Net debt increased to EUR 667 million (89 million) and net debt to EBITDA ratio was 0.38 (0.06)
- Cash funds and unused committed credit facilities totalled EUR 2.5 billion at the end of September
- UPM started the basic engineering phase of a next-generation biofuels refinery in January
- UPM joined The Climate Pledge in February, committed to reach the targets of the Paris Agreement 10 years in advance
