UPM Financial Statements Release 2018:
UPM delivered record earnings in 2018 – in a strong position for 2019
Q4 2018 highlights
- Sales grew by 6% to EUR 2,731 million (2,571 million in Q4 2017)
- Comparable EBIT increased by 10% to EUR 404 million (366 million)
- Sales prices increased in all business areas, outweighing the impact of higher input costs
- Operating cash flow was strong at EUR 420 million (407 million)
- Net debt decreased to EUR –311 million (174 million)
- UPM increased the fair value of its forest assets in Finland by EUR 345 million, mainly due to higher forest growth estimates
- UPM Jämsänkoski release liner expansion in Finland was completed
- Sales grew by 5% to EUR 10,483 million (10,010 million in 2017)
- Comparable EBIT increased by 17% to EUR 1,513 million (1,292 million)
- Sales prices increased in all business areas, outweighing the impact of higher input costs and unfavourable currency exchange rates
- Operating cash flow was EUR 1,391 million (1,558 million), held back by an increase in working capital
- The Board proposes a dividend of EUR 1.30 (1.15) per share, an increase of 13% from previous year
- UPM initiated focused investments in Germany, Finland and China to grow in the attractive release liner segments
Each of our seven 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.
|Comparable EBIT, EURm||123||91|
|% of sales||31.5||28.8|
|Capital employed (average), EURm||2,346||2,267|
|Comparable ROCE, %||5.3||4.0|
|Personnel on 31 December||53||50|
|Comparable EBIT, EURm||126||136|
|% of sales||8.5||9.1|
|Capital employed (average), EURm||535||502|
|Comparable ROCE, %||23.6||27.2|
|Personnel on 31 December||3,084||3,036|
|Comparable EBIT, EURm||90||152|
|% of sales||6.3||11.4|
|Capital employed (average), EURm||889||885|
|Comparable ROCE, %||10.1||17.2|
|Personnel on 31 December||1,897||1,849|
|Comparable EBIT, EURm||267||231|
|% of sales||5.7||5.0|
|Capital employed (average), EURm||1,602||1,702|
|Comparable ROCE, %||16.7||13.6|
|Cash flow / Capital employed, %||15.3||24.3|
|Personnel on 31 December||7,333||7,642|
|Comparable EBIT, EURm||52||62|
|as % of sales||10.8||12.8|
|Capital employed (average), EURm||283||267|
|Comparable ROCE, %||18.4||23.1|
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