UPM-Kymmene Oyj

UPM Communication Papers announced the permanent closure of its Hürth newsprint mill and the shutdown of one fine paper machine at Nordland Papier in Dörpen, Germany, affecting 338 positions. Graphic paper production in Hürth will end on 31 August 2024, and at Nordland Papier PM 3 by the end of 2024, reducing annual capacities by 330,000 tonnes of newsprint and 280,000 tonnes of uncoated fine paper. Constructive dialogues with employee representatives led to socially responsible solutions. The financial impact remains unchanged from the May announcement. UPM Communication Papers, headquartered in Germany, employs about 6,000 people and operates 11 paper mills globally. UPM is committed to sustainability and climate change mitigation, employing 16,600 people worldwide with annual sales of approximately EUR 10.5 billion.

UPM is hosting its Capital Markets Day 2024 on Thursday, 5 September, at the London Stock Exchange Group, 10 Paternoster Square, London. The event is open to investors, analysts, and bankers, offering insights into UPM's strategy, business performance, sustainability, and growth opportunities. The schedule includes registration and lunch from 12:00 to 13:00, presentations and a live webcast from 13:00 to 15:00, and coffee and discussions from 15:00 to 16:00. Participants can register now, and those unable to attend in person can join the live webcast. Recordings will be available on UPM’s website. Contact UPM Investor Relations or Media Relations for more information. UPM focuses on renewable solutions and sustainability, employing 16,600 people globally with annual sales of approximately EUR 10.5 billion.

UPM Raflatac has acquired Belgian company Grafityp to enhance its growth in graphics solutions. The merger aims to strengthen UPM Raflatac's competitive position, expand its product portfolio, and access new technologies. Grafityp, known for its self-adhesive graphics solutions and strong brand presence, has a manufacturing site in Belgium and a distribution center in the UK, employing around 100 people. Both companies have agreed not to disclose financial details of the transaction. The acquisition is expected to create significant growth opportunities and synergies, aligning with UPM Raflatac's strategy to expand its graphics business.

UPM-Kymmene Corporation released its Half-Year Financial Report for 2024 on 23 July 2024. The report highlights a 60% increase in comparable EBIT for Q2. Key figures include Q2 sales of EUR 2,546 million, comparable EBIT of EUR 182 million, and operating cash flow of EUR 204 million. The UPM Paso de los Toros pulp mill in Uruguay reached full capacity. Maintenance activities affected performance but were successful, positioning assets well for the second half of the year. UPM Fibres saw good pulp demand and increased prices, UPM Specialty Papers and UPM Raflatac delivered good results, while UPM Communication Papers faced challenges. UPM Energy had a weak quarter due to lower electricity prices and maintenance. UPM Plywood performed steadily, and the biofuels business remained stable. The company is progressing with plans for a biofuels refinery in Rotterdam and expects future growth in renewable fuels and biochemicals. UPM anticipates better results in the second half of 2024, driven by higher delivery volumes and optimized operations at the UPM Paso de los Toros pulp mill. The full-year 2024 comparable EBIT is expected to increase from 2023. The company will host a webcast and conference call to discuss the report.

UPM will release its half-year financial report on Tuesday, July 23, 2024, between 09:30 and 10:00 EEST. The report will be available on the company's website. A webcast and conference call for analysts and investors will follow at 13:15 EEST, presented in English by President and CEO Massimo Reynaudo and CFO Tapio Korpeinen. Participants must register for the conference call to ask questions. The webcast will remain accessible on the website for 12 months. UPM is committed to renewable and responsible solutions, employing 16,600 people globally with annual sales of approximately EUR 10.5 billion. The company is listed on Nasdaq Helsinki Ltd. More information can be found on their website and social media platforms.