UPM posts record Q2 earnings, H1 profits down on higher costs and lower deliveries

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UPM expects to reach a new full year earnings record in 2022 despite all uncertainties related to the war in Ukraine, the ongoing pandemic, global economic development, and volatile energy markets. 

Most UPM business division reported good business in the second quarter and the company posted record earnings for the second quarter. Q2 sales increased by 7 per cent to €2.56bn y-o-y. Operating profit rose by 10 per cent to reach €335m, and the company posted a 21 per cent increase in net profit of €292m....

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