|
|||
2013-04-25 08:35:00 CEST 2013-04-25 08:35:15 CEST REGULATED INFORMATION UPM-Kymmene - Interim report (Q1 and Q3)Good performance in Pulp, Energy and Label, savings programme proceeds in PaperUPM-Kymmene Corporation Interim Report 25 April 2013 9.35 EET Q1/2013 compared with Q1/2012 -- Earnings per share excluding special items were EUR 0.18 (0.22), and reported EUR 0.09 (0.23) -- Operating profit excluding special items was EUR 144 million, 5.8 % of sales (156 million, 6.0%) -- EBITDA was EUR 284 million, 11.5% of sales (357 million, 13.7% of sales) -- Good performance in Pulp, Energy, and Label -- Hard work in Paper continues, EUR 90 million savings programme proceeds as planned KEY FIGURES (1 Q1/201 Q1/201 Q4/201 Q1-Q4/201 3 2 2 2 -------------------------------------------------------------------------------- Sales, EURm 2,474 2,608 2,657 10,492 -------------------------------------------------------------------------------- EBITDA, EURm (2 284 357 317 1,312 -------------------------------------------------------------------------------- % of sales 11.5 13.7 11.9 12.5 -------------------------------------------------------------------------------- Operating profit (loss), EURm 81 160 -1,659 -1,318 -------------------------------------------------------------------------------- excluding special items, EURm 144 156 146 556 -------------------------------------------------------------------------------- % of sales 5.8 6.0 5.5 5.3 -------------------------------------------------------------------------------- Profit (loss) before tax, EURm 66 146 -1,690 -1,271 -------------------------------------------------------------------------------- excluding special items, EURm 129 142 123 471 -------------------------------------------------------------------------------- Net profit (loss) for the period, EURm 47 120 -1,486 -1,122 -------------------------------------------------------------------------------- Earnings per share, EUR 0.09 0.23 -2.83 -2.14 -------------------------------------------------------------------------------- excluding special items, EUR 0.18 0.22 0.20 0.74 -------------------------------------------------------------------------------- Operating cash flow per share, EUR 0.20 0.42 0.69 1.98 -------------------------------------------------------------------------------- Shareholders' equity per share at end of 14.30 17.87 14.18 14.18 period, EUR -------------------------------------------------------------------------------- Gearing ratio at end of period, % 42 39 43 43 -------------------------------------------------------------------------------- Net interest-bearing liabilities at end of 3,199 3,672 3,210 3,210 period, EURm -------------------------------------------------------------------------------- 1. Note: 2012 figures are restated per new and revised IFRS standards. 2. EBITDA is operating profit before depreciation, amortisation and impairment charges, excluding the change in value of biological assets, excluding the share of results of associated companies and joint ventures, and special items. CEO Jussi Pesonen comments on the first quarter of 2013: ”The first quarter was well in line with our expectations: steady and positive in our growth businesses, hard work and continuing challenges in Paper. Our operating profit excluding special items, at EUR 144 million, materialised close to the comparison periods (156 million in Q1 2012, 146 million in Q4 2012). The operating cash flow was EUR 103 million, which was impacted by a seasonal increase in working capital. The financial result was clearly underpinned by the continued good performance of Pulp, Energy, and Label. Our Pulp was back to normal performance and Energy hedging continued to be successful. The performance of Plywood and Timber also improved thanks to improved cost efficiency and revised commercial strategies. In Paper, however, the market developments were as challenging as we anticipated. The profitability of European paper business was negatively impacted by three factors: publication paper prices, adverse currency development and delivery volumes compared to the latter half of 2012. Measures taken in 2012 resulted in EUR 30 million lower fixed costs in the first quarter of 2013 compared to last year. The market realities are currently tough and these savings were not sufficient to offset the market impact in Paper. Therefore, we will go ahead with the restructuring and streamlining plans that we announced in January to achieve EUR 90 million annual fixed cost savings. We are permanently closing two magazine paper machines in April, one in Rauma, Finland, and one in Ettringen, Germany. The sale of the Docelles paper mill, the Pestovo sawmill and the Aigrefeuille further processing mill is also ongoing, as is the streamlining of our functions. Economic pressure has led - and we believe will continue to lead - to structural changes that will be important for the whole industry,” said Pesonen. Outlook for 2013 unchanged Economic growth in Europe is expected to remain very low in the early part of 2013. This is having a negative impact on the European graphic paper markets in particular. The hydrological situation in the Nordic countries has normalised and the forward electricity prices for 2013 are on about the same level as the realised market prices in 2012. Growth market economies are expected to fare better, which is supportive for the global pulp and label materials markets as well as paper markets in Asia and wood products markets outside Europe. In H1 2013, UPM's performance will be underpinned by continued stable overall outlook for growth businesses such as Energy, Pulp and Label, as compared to H2 2012. However, slightly lower publication paper prices, adverse currency development and lower delivery volumes are having a clear negative impact on the European paper business profitability, as compared with H2 2012. UPM's cost level is expected to be stable. Conference call and press conference UPM's President and CEO Jussi Pesonen will present the results in a conference call and a webcast for analysts and investors (in English) on 25 April 2013 at 13:15 EET. Later in the afternoon, UPM's President and CEO Jussi Pesonen will present the results in a press conference (in Finnish) at the UPM Group Head Office in Helsinki (main entrance, Eteläesplanadi 2) on 25 April 2013 at 14:30 EET. Conference call details: The conference call can be participated in either by dialing a number in the list below or following the webcast online at www.upm.com or through http://qsb.webcast.fi/u/upm/upm_2013_0425_q1/ Only participants who wish to ask questions in the conference call need to dial in. All participants can view the webcast presentation online. The presentation is available at www.upm.com for 12 months after the call. We recommend that participants start dialing in 5-10 minutes prior to ensure a timely start of the conference. Conference call title: UPM Interim Report January-March 2013 Conference ID: 931258 PHONE NUMBERS PARTICIPANT - EVENT AUDIO ACCESS Participant - US: +1 334 323 6201 Participant - Australia LC: +61 (0)28 2239 543 Participant - Hong Kong LC: +852 300 278 26 Participant - Japan LC: +81 (3)45 8001 94 Participant - Malaysia LC: +60 (0)37 7124 471 Participant - New Zealand LC: +64 (0)99 1924 18 Participant - Singapore LC: +65 6823 2169 Participant - South Korea LC: +82 (0)23 4831 070 Participant - Taiwan LC: +886 (0)22 1626 701 Participant - Australia FP: 1800 9889 41 Participant - China North FP: 10 800 7121 463 Participant - China South FP: 10 800 1201 463 Participant - Hong Kong FP: 800 9620 99 Participant - India FP: 000 8001 0035 51 Participant - Indonesia FP: 0018030113799 Participant - Japan FP: 012 0998 921 Participant - Malaysia FP: 1800 8078 35 Participant - New Zealand FP: 0800 4457 28 Participant - Singapore FP: 800 1204 400 Participant - South Korea FP: 007981 4800 7090 Participant - Taiwan FP: 0800 6661 62 Participant - Thailand FP: 00 1800 1206 6570 2 Participant - Austria: +43 (0)268 2205 6292 Participant - Belgium: +32 (0)2 290 14 07 Participant - Czech Republic: +420 (2)3900 0635 Participant - Denmark: +45 3271 4607 Participant - Finland: +358 (0)9 2313 9201 Participant - France: +33 (0)1 7099 3208 Participant - Germany: +49 (0)695 8999 0507 Participant - Hungary: +36 (0)618 8932 15 Participant - Ireland: +353 (0)1 4364 106 Participant - Italy: +39 023 0350 9003 Participant - Luxembourg: +352 270 0073 408 Participant - Netherlands: +31 (0)20 7965 008 Participant - Norway: +47 2156 312 0 Participant - Spain: +34 917 889 507 Participant - Sweden: +46 (0)8 5052 0110 Participant - Switzerland (Geneva): +41 (0)2 2592 7007 Participant - Switzerland (Zurich): +41 (0)434 5692 61 Participant - UK: +44 (0)20 7162 0077 ** It should be noted that certain statements herein, which are not historical facts, including, without limitation, those regarding expectations for market growth and developments; expectations for growth and profitability; and statements preceded by “believes”, “expects”, “anticipates”, “foresees”, or similar expressions, are forward-looking statements. Since these statements are based on current plans, estimates and projections, they involve risks and uncertainties which may cause actual results to materially differ from those expressed in such forward-looking statements. Such factors include, but are not limited to: (1) operating factors such as continued success of manufacturing activities and the achievement of efficiencies therein including the availability and cost of production inputs, continued success of product development, acceptance of new products or services by the Group's targeted customers, success of the existing and future collaboration arrangements, changes in business strategy or development plans or targets, changes in the degree of protection created by the Group's patents and other intellectual property rights, the availability of capital on acceptable terms; (2) industry conditions, such as strength of product demand, intensity of competition, prevailing and future global market prices for the Group's products and the pricing pressures thereto, financial condition of the customers and the competitors of the Group, the potential introduction of competing products and technologies by competitors; and (3) general economic conditions, such as rates of economic growth in the Group's principal geographic markets or fluctuations in exchange and interest rates. For more detailed information about risk factors, see pages 74-75 of the company's annual report 2012. ** UPM-Kymmene Corporation Pirkko Harrela Executive Vice President, Corporate Communications UPM News Desk Mon-Fri 9.00-16.00 EET Phone: +358 40 5883284 E-mail: communications@upm.com UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 22,000 people. We are present in 67 countries and have production units in 17 countries. UPM's annual sales exceed EUR 10 billion. UPM's shares are listed on the Helsinki stock exchange. UPM - The Biofore Company - www.upm.com |
|||
|