The company’s net sales fell during the quarter by some 100 million euros to 2.4 billion euros.
UPM expects its profitability to further improve this year. The company’s comparable operating profit also rose in the first quarter. The company’s comparable operating profit for the January-June quarter was 545 million euros, compared to 429 million euros during the same period last year.
UPM CEO Jussi Pesonen in a company statement said UPM is “on a good path,” adding that UPM business enjoyed mostly favourable market developments during the second quarter.
“In the future, there are good opportunities for targeted growth initiatives, continued strong cash flow, and an attractive dividend,” Pesonen said.
