UPM raises its earnings outlook for H1 2022 and for the full year 2022. The company now expects its comparable EBIT to increase both in H1 2022 from H1 2021, and in the full year 2022 from 2021. Earlier, the company expected its comparable EBIT in H1 2022 to be on similar level compared to H1 2021, while comparable EBIT in the full year 2022 was expected to be on similar level or higher than in 2021. UPM’s comparable EBIT totalled Euro 586 million in H1 2021, and Euro 1,471 million in the full-year 2021.
Strong market conditions have continued in all UPM businesses. The company has succeeded well in managing margins in the challenging cost environment. Furthermore, production ramp-up succeeded well at the company’s Finnish mills following the signing of the business-specific collective labour agreements in April, and customer deliveries resumed rapidly.
Significant uncertainties remain in the outlook for 2022, related to the Ukraine, the ongoing pandemic, growth in the European and global economy, the energy market situation in Europe and the start-up of the OL3 power plant, and the tight raw material and logistics markets.
UPM leads the forest-based bioindustry into a sustainable, innovation-driven, and exciting future across six business areas: UPM Fibres, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood.
