In the first quarter of 2015, cost reductions and rising demand for plywood have generated a year-on-year increase in EBITDA of 47% to €25m at UPM Plywood, the plywood division of Finnish UPM-Kymmene. The adjusted operating profit was up by 73% to €19m. Turnover, at €119m, improved year on year by 4%, and plywood deliveries increased by 6% to 199,000 m³. The adjusted operating profit and the EBITDA of the UPM Biorefining division, which covers not only wood-energy business but also the partial sectors Lumber and Pulp, showed growth of 73% to €97m and 46% to €134m respectively on the back of rising pulp prices. However, the result was burdened by the scheduled production shutdown of the Kaukas pulp plant for maintenance work. Divisional turnover was up by 8% to €533m. Pulp deliveries were down by 1% to 810,000 t.
UPM Plywood increases both turnover and profit
© 2015 EUWID Europäischer Wirtschaftsdienst GmbH | All Rights Reserved.
Copyright notice The individual articles, tables and other contents published by EUWID are protected by copyright and are provided exclusively for the client's own use and the use of the client's employees. In the absence of a more extensive licence agreement, only one copy may be printed for circulation at a single business location designated by the client. Digital distribution of EUWID contents, especially by intranet or by e-mail, within a company, throughout a group of companies, or outside a company is not permitted and constitutes an infringement of copyright law. Read more in our FAQ.