UPM-Kymmene Oyj

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.

UPM-Kymmene Corporation announced the appointment of Gunnar Eberhardt as Executive Vice President of UPM Communication Papers and a member of the Group Executive Team, effective October 2024. Eberhardt, who will report to President and CEO Massimo Reynaudo, joins UPM from Henkel AG & Co. KGaA, where he served as Corporate Vice President, Adhesives Automotive OEM Business. He has extensive experience in sales, marketing, and leadership roles at Henkel and Osram. Eberhardt holds a Diploma in Industrial Engineering and an Executive Master’s degree in Innovation & Technology Management. He will be based in Augsburg, Germany. UPM highlighted Eberhardt's international experience and leadership skills as valuable assets for the company.

On 4 April 2024, the Annual General Meeting of UPM-Kymmene Corporation decided that the company's Board of Directors' annual base fee would be paid partially in company shares and cash, with about 40% in shares purchased on behalf of the board members. As a result, 1,462 shares were bought for Board member Piia-Noora Kauppi. The shares were acquired on 26 April 2024 from NASDAQ Helsinki Ltd.