UPM-Kymmene Oyj (OHEL:UPM)
€ 34.63 0.33 (0.96%) Market Cap: 18.47 Bil Enterprise Value: 20.92 Bil PE Ratio: 38.05 PB Ratio: 1.62 GF Score: 78/100

Half Year 2023 UPM-Kymmene Oyj Earnings Call Transcript

Jul 25, 2023 / 10:15AM GMT
Release Date Price: €29.71 (+3.52%)
Jussi Pesonen
UPM-Kymmene Oyj - President & CEO

Ladies and gentlemen, dear audience, welcome to UPM's Second Quarter 2023 Result Webcast. My name is Jussi Pesonen, I am the CEO of UPM. I'm here with UPM's CFO, Tapio Korpeinen.

Tapio Juhani Korpeinen
UPM-Kymmene Oyj - CFO & Executive VP of UPM Energy

Hi to everyone.

Jussi Pesonen
UPM-Kymmene Oyj - President & CEO

Ladies and gentlemen, we will today cover 3 main topics. First, we will discuss the second quarter results and the outlook. Continued low volumes, significant lower pulp and energy prices and high maintenance activity resulted in exceptionally low second quarter results. However, we expect deliveries to improve and variable costs to decrease in the second half of 2023.

Second topic, we will discuss some of our measures to improve competitiveness. As of today, we have implemented and planned actions in place to reduce our graphic paper capacity by 18% during 2023 and reduce the number of employees by 8% compared to autumn 2022,

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