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We are committed to UN Global Compact Business Ambition for 1.5°C to mitigate climate change.

UPM Interim Report Q1 2020:
Solid Q1 results, UPM well prepared for the current uncertainty and future recovery 

Q1 2020 highlights

  • Sales decreased by 15% to EUR 2,287 million (2,693 million in Q1 2019) due to lower pulp and paper prices and lower deliveries of graphic papers
  • Comparable EBIT decreased by 26% to EUR 279 million (374 million)
  • UPM Raflatac and UPM Specialty Papers achieved record comparable EBIT 
  • The industry-wide strike in Finland affected UPM's pulp and paper businesses for two weeks and timber and plywood businesses for four weeks 
  • The COVID-19 pandemic did not materially impact UPM's operations in Q1 2020
  • UPM implemented extensive precautions to protect the health and safety of its employees and to ensure business continuity and progress of strategic projects during the pandemic
  • UPM is planning to use shift arrangements, temporary layoffs, or reduced working hours as required to adjust its operations in different scenarios
  • UPM's transformative pulp project in Uruguay and biochemicals project in Germany are proceeding in line with the planned start-up timeline
  • Operating cash flow was EUR 137 million (320 million), as working capital increased seasonally
  • Net debt decreased to EUR -405 million (-5 million)
  • Cash funds and unused committed credit facilities totalled EUR 2.2 billion at the end of March
  • AGM was held as scheduled with special precautions on 31 March and the dividend of EUR 1.30 per share was paid on 16 April


UPM Investor Presentation 2020


Value from Responsibility 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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