UPM’s 4Q 2018 sales were Euro 2,731 million, 6% higher than the Euro 2,571 million for 4Q 2017, as the company said in the press release received by Lesprom Network.
Comparable EBIT increased by 10% to Euro 404 million, 14.8% of sales. Sales prices increased across all UPM business areas. The positive impact of higher sales prices was clearly larger than the negative impact of increased variable costs and changes in currency exchange rates.
Operating profit totalled Euro 744 million, compared to Euro 299 million in 4Q 2017. Profit for 4Q 2018 was Euro 591 million, and comparable profit was Euro 319 million.
Full year 2018 sales totalled Euro 10,483 million, 5% higher than the Euro 10,010 million for 2017. Comparable EBIT increased by 17% to Euro 1,513 million, 14.4% of sales.
Operating profit totalled Euro 1,895 million, compared to Euro 1,259 million in 2017. Profit for 2018 was Euro 1,496 million and comparable profit was Euro 1,194 million (1,004 million).
Jussi Pesonen, President and CEO, said: "2018 was a record year for UPM. We achieved record earnings and our net debt fell below zero. The year was a commercial success and we succeeded in mitigating higher input costs. We laid the groundwork for future growth in our current and innovative new businesses and received exceptional recognition for our responsibility performance. The results in 2018 demonstrate the impact of many years of transformation and I wish to thank all UPMers and our partners for achieving excellent results together.”
UPM delivers renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood.
