2Q EBITDA increased to Euro 317 million (12.4% of sales) from Euro 305 million (12.5% of sales) in the comparison period.
Operating profit excluding special items increased to Euro 227 million, 8.9% of sales. Depreciation totalled Euro 129 million.
Reported operating profit was Euro 206 million, 8.1% of sales. Operating profit includes net charges of Euro 21 million as special items.
Profit for 2Q 2015 was Euro 160 million, and earnings per share were Euro 0.30. Earnings per share, excluding special items, were Euro 0.33.
UPM sales in January–June 2015 were Euro 5,034 million, 2% higher than Euro 4,922 million in 1Q–2Q 2014.
EBITDA increased to Euro 642 million (12.8% of sales) from Euro 628 million in the comparison period.
Profit for 1Q–2Q 2015 was Euro 315 million, and earnings per share were Euro 0.59. Earnings per share, excluding special items, were Euro 0.62.
Jussi Pesonen, President and CEO comments on the results: “Our 2Q showed good progress, our operating profit improved year-on-year and our operating cash flow was strong. Overall, the Group results were supported by our profit improvement programmes, particularly visible as lower variable costs.
UPM Biorefining, UPM Raflatac, UPM Plywood and UPM Paper Asia enjoyed favourable market conditions and achieved good performance. I’m pleased that we have ongoing growth projects in all of these businesses. Considering the current electricity markets UPM Energy made a fair result, mainly due to increased hydro power volumes.”
