Thursday, April 25, 2013

UPM Reports Q1 Results

Sales for Q1 2013 were EUR 2,474 million, 5% lower than the EUR 2,608 million in Q1 2012. Sales decreased due to a reduction in paper deliveries and prices.
EBITDA was EUR 284 million, 11.5% of sales (357 million, 13.7% of sales). The decrease in EBITDA was mainly attributable to the Paper business area, as a result of lower average paper prices and lower delivery volumes.
Fixed costs decreased by EUR 30 million from the comparison period. Also, variable costs were slightly lower than last year.
Operating profit excluding special items was EUR 144 million, 5.8% of sales (156 million, 6.0%).