In the first quarter of 2023 Finnish wood industry group UPM-Kymmene Corp. (Helsinki) recorded declining demand in most product segments. Despite a lower level of deliveries overall, group turnover increased by 11% vis à vis the preceding year to €2.787bn (Jan.-March 2022: 2.507bn), however compared to the fourth quarter (€3.231bn), a 14% decline ensues. Results figures also improved compared to last year. Comparable EBITDA and comparable EBIT increased by 27% to €477m (377m) and 29% to €356m (277m) respectively. Pre-tax profit (+34% to €239m) and net profit (+32% to €183m) each rose by around one-third.
The UPM fibres business division achieved clearly over-proportional increases in turnover and results in the first quarter, whilst the UPM energy business division (turnover: +11%, comparable EBIT: +27%) developed similarly to the group as a whole. The UPM specialty papers and UPM communication papers business divisions achieved turnover growth of +7% and +8% respectively; results figures declined in each case, however. The other operations business division, comprising UPM Forest, UPM Biofuels, UPM Biochemicals, UPM Biomedicals and UPM Biocomposites, generated turnover of €200m (70m), representing a threefold increase vis à vis the previous year’s figure. Comparable EBIT returned to the positive zone at €9m (-38m).
