Covid-19 pandemic did not materially impact operations in first quarter, company says.
UPM's operating profit for the first quarter this year declined to €243m (2019: €373m), especially because of lower results in its Communication Papers business. UPM Raflatac and Specialty Papers reported their best quarter ever, UPM says.
CEO and President Jussi Pesonen said that the company is in a financially strong position and well prepared for the current uncertainty. However, global socioeconomic outlook has changed dramatically since January. At the end of Q1. UPM withdrew its outlook for the year and said it would not provide a new outlook for the time being.
EUWID Pulp and Paper keeps busy professionals up-to-date on the latest news from international pulp and paper markets.
Test EUWID Pulp and Paper free of charge and without any obligation by clicking here.
