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UPM-Kymmene

24.60 EUR-0.45 %21.10, 17.29
22,218 following

UPM

NASDAQ Helsinki

Paper & Forest Products

Basic Materials

Overview
Financials & Estimates
Dividend
Short Selling
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-0.45 %
-5.64 %
+5.08 %
-7.24 %
-0.77 %
+9.58 %
-19.92 %
-19.77 %
+204.72 %

UPM-Kymmene is active in the forest industry. The company currently works with the development of wood biomass and biofuel. The product portfolio is broad and includes, for example, biochemicals, printing materials, paper, and timber. The company has operations on a global level, with the largest presence around the European market. The head office is located in Helsinki.

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Market cap
12.98B EUR
Turnover
11.77M EUR
P/E (adj.) (26e)
18.11
EV/EBIT (adj.) (26e)
17.09
P/B (26e)
1.31
EV/S (26e)
1.75
Dividend yield-% (26e)
6.1 %
Coverage
Recommendation
Reduce
Target price
22.00 EUR
Updated
24.07.2026
Antti Viljakainen
Antti Viljakainen

Head of Research

Latest research

Latest analysis report

Released: 24.07.2026

Revenue and EBIT-%
EPS and dividend
Financial calendar
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Forum discussions
Absolutely. The plant’s technology hasn’t been disclosed in great detail (or alternatively, I just haven’t understood much of it ), but to my understanding, it is a new facility based at least partly on UPM’s proprietary technology. The IPR has likely been protected as much as possible...
10/15/2026, 1:29 PM
by Antti Viljakainen
16
OP’s views on UPM in Zijoittaja’s post. Target down 50c to €28.0 & Buy. Wisa cleaned out from the above figures, and its value is €0.60–0.72 https://x.com/zijoittaja/status/2112557063750455535
23 hours ago
by Opa
7
The opening of Leuna was indeed celebrated late last week. I’ve continued to wonder how UPM calls Leuna the world’s first commercial-scale biorefinery. In the latest Kauppalehti article (also linked here), CEO Massimo Reynaudo refers to the facility as the world’s first biorefinery...
10/19/2026, 11:23 AM
by mardi
7
Ponsse initiates change negotiations, over 1,100 employees may face temporary layoffs. “The company justifies the change negotiations with a weakened market situation. According to the press release, the difficult situation in the forest industry affects the demand for forest machines...
yesterday
by Yoda
6
In my view, beating a 10% required return would be enough for a good performance here. It’s still difficult to assess the total capital tied up, as in addition to the plant, the operations will also require things like working capital. Consequently, that roughly €200m EBITDA estimate...
10/19/2026, 6:12 PM
by mardi
5
The main takeaway is here: The negotiations do not include plans for permanent closures of production facilities, nor do they affect agreed customer deliveries, Nousiainen said.
10/16/2026, 7:27 AM
by Lutuuri
5
A biorefinery can mean just about anything. After all, even new pulp mills have been called biorefineries. Leuna is a chemical plant and doesn’t produce fibers. Borregaard also produces fibers, so some purist might argue that it’s neither a biorefinery nor a chemical plant. The whole...
yesterday
by Simo Hijoittaja
4
Read more on our forum
Revenue and EBIT-%

Revenue B

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
28.10
2026

Interim report Q3'26

30.10
2026

Half year dividend

Press release21.10.2026, 09.00

UPM-Kymmene Oyj: Invitation to UPM's webcast on Q3 2026 Interim Report

UPM-Kymmene
Regulatory press release19.10.2026, 14.00

Changes in UPM's Group Executive Team: Aki Temmes appointed Chief Financial Officer of UPM and Petri Hakanen Executive Vice President, UPM Fibres

UPM-Kymmene
Press release15.10.2026, 15.00

From wood to chemicals: UPM inaugurates pioneering biorefinery in Germany

UPM-Kymmene

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Press release14.10.2026, 15.00

New global research: Printed magazine advertising leaves people feeling happier than any other advertising medium

UPM-Kymmene
UPM og Sappi forsøger at vende EU-Kommissionens lunkne holdning med indrømmelser
Analyst Comment06.10.2026, 06.40 by
Antti Viljakainen

UPM og Sappi forsøger at vende EU-Kommissionens lunkne holdning med indrømmelser

EU-Kommissionens lunkne holdning og afvisning af et salg af fabrikkerne øger risikoen for, at UPM's og Sappis papirfusion falder til jorden.

UPM-Kymmene
Regulatory press release05.10.2026, 10.30

Inside information: European Commission has restated its serious concerns about planned graphic paper Joint Venture; UPM and Sappi continue to address these concerns

UPM-Kymmene
Reuters: Europæiske konkurrencemyndigheder er på vej til at blokere fusionen mellem UPM's og Sappis papirforretningsområder
Analyst Comment21.09.2026, 06.45 by
Antti Viljakainen

Reuters: Europæiske konkurrencemyndigheder er på vej til at blokere fusionen mellem UPM's og Sappis papirforretningsområder

Konkurrencemyndighedernes holdning til projektet har efter vores opfattelse været usikker helt fra starten, så en afvisning af fusionen ville ikke være en overraskelse. Efter vores opfattelse ville et nej fra EU-Kommissionen være en anelse negativt for UPM's aktie, men det ville ikke have nogen umiddelbar indvirkning på vores investeringsbetragtning om selskabet. Hvis fusionen falder til jorden, vil UPM sandsynligvis fortsætte med at drive papirforretningen selv. 

UPM-Kymmene
Regulatory press release18.09.2026, 11.20

The Finnish Financial Supervisory Authority has approved a supplement to WISA Group Plc's demerger and listing prospectus: Lasse von Hertzen appointed as the Chief Financial Officer of WISA Group Plc

UPM-Kymmene
Press release14.09.2026, 14.07

UPM-Kymmene Oyj: UPM and Sappi nominate management team for planned graphic paper joint venture

UPM-Kymmene
Press release08.09.2026, 13.00

UPM-Kymmene Oyj: UPM and Sappi select management nominees for planned graphic paper Joint Venture

UPM-Kymmene
Press release01.09.2026, 09.00

UPM-Kymmene Oyj: Invitation to the Capital Markets Day 2026 of future WISA Group

UPM-Kymmene
Analyst Comment01.09.2026, 07.05 by
Aapeli Pursimo

UPM's generalforsamling godkendte dannelsen af WISA Group

Beslutningen var i overensstemmelse med vores forventninger, og vi havde allerede indregnet den i vores estimater.

UPM-Kymmene
Regulatory press release31.08.2026, 14.30

UPM-Kymmene Oyj: Resolutions of UPM-Kymmene Corporation's Extraordinary General Meeting

UPM-Kymmene
Analyst Comment27.08.2026, 07.00 by
Antti Viljakainen

Bruxelles stejler over UPM's og Sappis papirtransaktion

Efter vores vurdering kan Kommissionen enten godkende eller afvise aftalen eller tvinge selskabet til at indgå indrømmelser. Vi har ikke inkluderet transaktionen i vores estimater.

UPM-Kymmene
Press release26.08.2026, 10.10

UPM-Kymmene Oyj: UPM receives European Commission's Statement of Objections

UPM-Kymmene
Regulatory press release17.08.2026, 15.00

UPM-Kymmene Oyj: The Finnish Financial Supervisory Authority has approved a supplement to WISA Group Plc's demerger and listing prospectus

UPM-Kymmene
Regulatory press release29.07.2026, 12.00

UPM-Kymmene Corporation: Managers' Transactions (Kekki)

UPM-Kymmene
UPM Q2'26: Udsigterne på kort sigt skuffede, som vi frygtede
Research24.07.2026, 05.55 by
Antti Viljakainen

UPM Q2'26: Udsigterne på kort sigt skuffede, som vi frygtede

Det samlede billede af UPM's Q2 regnskab var efter vores mening negativt, da selskabets H2-forventninger skuffede, som vi frygtede i vores preview.

UPM-Kymmene
UPM Interim Report for January–June 2026
Webcast23.07.2026, 12.15

UPM Interim Report for January–June 2026

UPM-Kymmene
Regulatory press release23.07.2026, 08.30

UPM Half Year Financial Report 2026: Improved second quarter results in all businesses and portfolio change progressing

UPM-Kymmene