UPM reported a 2% increase in revenue to EUR 2,574 million in 4Q/2015. Sales grew in UPM Biorefining and UPM Raflatac but declined in the other business areas, according to a company press release.
4Q EBITDA increased to EUR 363 million (14.1% of sales) from the Euro 334 million (13.2% of sales) during this period. Reported operating profit was EUR 220 million, 8.5% of sales. Operating profit includes net charges of EUR 5 million as special items. Profit for 4Q 2015 was Euro 193 million, and earnings per share were EUR 0.36.
2015 sales were EUR 10,138 million, 3% higher than EUR 9,868 million in 2014. Sales grew in UPM Biorefining, UPM Raflatac and UPM Paper Asia and decreased in UPM Paper ENA and UPM Energy. Sales remained at the same level in UPM Plywood.
FY 2015 EBITDA increased to EUR 1,350 million (13.3% of sales) from EUR 1,306 million (13.2% of sales) in the comparison period.
Reported operating profit was EUR 1,142 million, 11.3% of sales. Profit for 2015 was EUR 916 million, and earnings per share were EUR 1.72.
Jussi Pesonen, President and CEO, said, “UPM finished 2015 on a strong note. 4Q was the best of the year thanks to solid business performance. The profit improvement programme exceeded its target and the growth projects started to deliver earnings. EBITDA reached a higher level than in five years and our strong cash flow drove net debt to a new record-low level.”
Source: Lesprom Network/ Edited by Panels & Furniture Asia