UPM Plywood: Decline in results despite turnover rise

22.11.2017 − 

Finnish UPM-Kymmene concluded the third quarter with a turnover increase of 1.9% to €2.493m. Operating profit (EBIT), calculated on a comparable basis, increased by 11.8% to €351m. All divisions contributed to the turnover increase with the exception of UPM Paper ENA and UPM Energy.

In the UPM Plywood business division, the quarterly turnover increased by 5.6% to €112m which, according to the company, is particularly due to the higher sales volumes (+4.3% to 192,000m³) and a positive price development for birch as well as softwood plywood ranges. These increases were not enough to compensate the cost increases, however, which meant that operating profit - calculated on a comparable basis - decreased to €10m (12m).

In the UPM Biorefining business division, which includes pulp, lumber and biofuel activities, the quarterly turnover increased by 15.3% to €624m. The company attributes this increase predominantly to higher sales volumes and prices and for pulp. The lumber division also benefited from good demand and slightly higher prices, according to in-company information.

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