UPM achieves EUR 200 million profit improvement target

Net debt at lowest level in 15 years
UPM has published its Interim report Q3/2014. Key figures from Q3 2014 compared with Q3 2013 include:

Earnings per share excluding special items were EUR 0.32 (0.26), and reported EUR 0.34 (0.26)

Operating profit excluding special items increased to EUR 235 million, 9.7% of sales (194 million, 7.8% of sales), due to the success of the profit improvement programme
EBITDA was EUR 346 million, 14.3% of sales (311 million, 12.6% of sales)
The full targeted annualised cost savings of EUR 200 million were achieved in Q3 2014, ahead of schedule

Jusi Pesonen, CEO of UPM, comments on the report:
"UPM posted a strong third quarter 2014 thanks to the success of the profit improvement programme and very good operational efficiency in all businesses. I´m particularly pleased with our cash flow performance and balance sheet as this provides the foundation for both dividend growth and the ability to continue the transformation of the company."

PULPAPERnews - SUECIA - 31 octubre 2014