UPM Half-Year Financial Report 2025: Securing performance in a turbulent global trade environment
Q2 2025 highlights
- Sales totaled €2,400 million (2,546 million in Q2 2024)
- Comparable EBIT decreased by 31% to €126 million, 5.2% of sales (182 million, 7.2%)
- Operating cash flow was €179 million (204 million)
- Increased global trade tensions impacted deliveries and sales prices for UPM Fibres and UPM Communication Papers
- Advanced materials businesses' performance was more resilient, measures to improve profitability continued
- UPM Biofuels had record high deliveries and improved its performance
- UPM discontinued the development of the potential refinery in Rotterdam to sharpen the focus in biofuels growth strategy
- The biochemicals refinery in Leuna started up the first of its three core processes
H1 2025 highlights
- Sales totaled €5,046 million (5,186 million in H1 2024)
- Comparable EBIT decreased by 20% to €413 million, 8.2 % of sales (515 million, 9.9 %)
- Operating cash flow was €468 million (539 million)
- Net debt was €3,310 million at the end of June (2,763 million)
- UPM commenced a share buy-back program and repurchased 6 million shares for a total of approximately €160 million
- UPM was listed as the only forest and paper industry company in the Dow Jones Global and European Sustainability Indices (DJSI) for the years 2024–2025
- UPM was recognized among the top sustainability performers by CDP and S&P Global
