In the 2021, plywood sales of UPM-Kymmene increased by 8% vis à vis the preceding year to 738,000 m³. The corona-related losses recorded in 2020 were thus almost completely offset. In 2019, the plywood business division had sold a total volume of 739,000 m³. However, plywood sales in 2020 were still considerably lower than the volumes sold in 2017 (811,000 m³) and 2018 (791,000 m³).
The high level of demand also made it possible to increase prices in the past financial year. As a result, turnover of the business division rose by 21% vis à vis the previous year to €492m and thus at a significantly higher rate than sales. Turnover generated with external customers accounted for €471m, exceeding the comparable figure by 22%.
With increased variable costs compared to the previous year, comparable EBITDA of the plywood business division rose by more than two-thirds to €99m. Comparable EBIT more than doubled to €72m. According to UPM-Kymmene, this means that profitability of the plywood business division reached a new record level in the past financial year.
The biorefining business division, in which the company’s pulp, lumber and biofuel activities were consolidated, also benefited from higher prices last year.As a result, turnover of the business division rose by 35% vis à vis the previous year to €2.945bn.
