UPM-Kymmene Oyj

UPM-Kymmene Corporation announced on October 4, 2024, that it received a notification from BlackRock, Inc. regarding a group restructure following its acquisition of Global Infrastructure Management LLC. As a result, BlackRock's total position in UPM-Kymmene stands at 6.43% of shares and voting rights, up from a previous 5.36%. This includes 6.20% direct shares and voting rights and an additional 0.23% through financial instruments. UPM-Kymmene is a company focused on renewable solutions across six business areas, with annual sales of approximately EUR 10.5 billion, employing 16,600 people globally. Its shares are listed on Nasdaq Helsinki Ltd.

Harald Dialer has been appointed Executive Vice President, Technology and UPM Biorefining at UPM, effective January 1, 2025. He will join UPM’s Group Executive Team and report to President and CEO Massimo Reynaudo. Dialer, who holds a Ph.D. in chemistry, has over 25 years of experience in specialty chemicals and renewables technologies, previously working at HCS Group, BASF, Süd-Chemie, Scientific Design Co., and Clariant. He will be based in Augsburg, Germany. Dialer succeeds Winfried Schaur, who is leaving the company for private reasons after a 23-year career at UPM. Schaur will remain in his current position until the end of 2024. UPM is committed to renewable and responsible solutions, employing 16,600 people worldwide with annual sales of approximately EUR 10.5 billion.

UPM held a Capital Markets Day in London, focusing on the theme 'From transformation to growth'. President and CEO Massimo Reynaudo and the Group Executive Team discussed UPM's strategy to accelerate growth in renewable fibres, advanced materials, and decarbonisation solutions. Over the past 15 years, UPM has shifted from a paper producer to a supplier of advanced materials, achieving a 14% annual shareholder return. The company aims to further growth in the next five years, particularly in renewable fibres, advanced materials, and decarbonisation solutions. UPM plans to optimise its production in Uruguay, expand in fast-growing markets, and launch its biochemicals business. The company remains committed to disciplined capital allocation, attractive returns, and sustainability. More information and a replay of the webcast are available on UPM's website.

UPM-Kymmene Corporation has applied for the listing of its fourth Green Bond, valued at EUR 600 million, on Euronext Dublin. The bond, which matures in August 2034, offers a fixed annual coupon of 3.375% and holds a BBB+ rating from S&P Global Ratings. The proceeds will be used to finance or refinance projects under UPM's Green Finance Framework. Relevant documents are available on UPM’s website. For more information, contact Kenneth Råman or UPM Media Relations. UPM focuses on renewable and responsible solutions across six business areas and is committed to climate change mitigation. The company employs 16,600 people globally and has annual sales of approximately EUR 10.5 billion. UPM shares are listed on Nasdaq Helsinki Ltd.

UPM has issued a new EUR 600 million Green Bond under its Euro Medium Term Note Programme and Green Finance Framework, maturing in August 2034 with an annual coupon of 3.375%. The bond is expected to be rated BBB+ by S&P Global Ratings and will be listed on the Irish Stock Exchange (Euronext Dublin). BNP Paribas, Danske Bank, J.P. Morgan, OP Corporate Bank, and SEB were joint bookrunners. The proceeds will finance or refinance projects under UPM's Green Finance Framework, focusing on sustainable forest management, climate-positive products, and renewable energy. This issuance strengthens UPM's position as a leading corporate Green Bond issuer in the Nordics, bringing its total Green Bonds issued to EUR 2,350 million. The company's CFO, Tapio Korpeinen, highlighted the link between this financing and UPM's sustainability goals. UPM employs 16,600 people, with annual sales of approximately EUR 10.5 billion, and is listed on Nasdaq Helsinki Ltd.