Lower pulp and fine paper deliveries in Europe had an adverse impact on UPM's operating profit

UPM -Kymmene Corporation   Stock exchange release  14 October 2011  at 12:00

Lower pulp and fine paper deliveries in Europe had an adverse impact on UPM’s operating profit – Q3 operating profit excluding special items was EUR 137 million

UPM’s pulp deliveries and fine paper deliveries in Europe during Q3 2011 were lower than expected and had a negative impact on the company’s operating profit.

Fine paper demand continued to be low in Europe and deliveries did not recover in September from the seasonal summer slowdown.

However, stable demand continued in publication papers and the integration of Myllykoski and Rhein Papier proceeded well.

During Q3 2011, UPM’s operating profit excluding special items was approximately EUR 137 million and EBITDA approximately EUR 330 million. Sales were EUR 2.6 billion.

Following the lower than expected Q3 results and the continuing uncertainty in pulp and fine paper markets, UPM’s full-year 2011 operating profit is expected to be somewhat lower than last year. Previously, the full year 2011 operating profit was expected to improve from last year.

UPM will publish its Q3 2011 results on October 26, 2011.

For more information, please contact:
Mika Mikkola, Vice President, Investor Relations, UPM, tel. +358204150376

UPM -Kymmene Corporation
Pirkko Harrela
Executive Vice President, Corporate Communications

UPM , Corporate Communications
Media Desk, tel. +358 40 588 3284
media@upm.com

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