Tuesday 05. February 2008
UPM’s operating profit 2007 impacted by high cost of wood and fibre, Prospects for magazine paper business are improving
Financial Review 2007 – Earnings per share for 2007 were EUR 0.16 (EUR 0.65 for 2006), excluding special items EUR 1.00 (EUR 0.80) – Operating profit for the year was EUR 483 million (EUR 536 million), excluding special items EUR 835 million (EUR 725 million) – Operating profit for the fourth quarter was EUR 142 million (EUR 247 million), excluding special items EUR 194 million (EUR 252 million) – Full year results were impacted by significantly higher than forecast cost of wood and fibre – As a result of the Profitability Programme 2006, UPM has reduced its paper capacity by over 1.1 million tonnes and its headcount by 3,200 persons