UPM reports net loss for Q3 2011


Today, UPM-Kymmene had to report a net loss of €109m for the third quarter 2011. In the third quarter 2010, the company had still reported a plus of €178m. Also, an operating loss of a total of €159m, compared to a plus of €238m in Q3 2010, had to be booked.

“During the third quarter UPM’s delivery volumes fell while variable costs reached a peak level. These coinciding events impacted on our operating profit. Particularly the lower pulp and fine paper deliveries in Europe had an adverse impact on the operating profit,” said CEO Jussi Pessonen commenting on the results.
On the other hand, sales for the third quarter of 2011 increased by 13% to €2,6m. UPM says, this increase is mainly due to the inclusion of the acquired Myllykoski and Rhein Papier as of 1 August 2011. In addition, sales prices increased, particularly in Paper. Paper deliveries in Q3 amounted to 2.79 million t, compared to 2.58 million t in Q3 2010.

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