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UPM-Kymmene

24.18 EUR

-0.25 %

20,700 following

UPM

NASDAQ Helsinki

Paper & Forest Products

Basic Materials

-0.25 %
+5.91 %
+1.60 %
+2.15 %
-8.96 %
-7.96 %
-32.53 %
-16.71 %
+199.52 %

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
12.76B EUR
Turnover
20.89M EUR
P/E (adj.) (25e)
20.39
EV/EBIT (adj.) (25e)
18.78
P/B (25e)
1.2
EV/S (25e)
1.64
Dividend yield-% (25e)
6.2 %
Coverage
Recommendation
Reduce
Target price
24.00 EUR
Updated
29.10.2025
Antti Viljakainen
Antti Viljakainen

Head of Research

Revenue and EBIT-%

Revenue B

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Risk
Business risk
Valuation risk
Low
High
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Forum discussions
It’s good to note that those enterprise values include debts and pension liabilities. Sappi’s press release makes it clearer that the arrangement is actually completely symmetrical from the companies’ perspective; both are net contributing €127-128m to the company (net assets - received...
12/4/2025, 8:38 PM
by ollikohan
24
Yes, this seems like a sensible move! Plywood could now be kept within UPM ”According to CEO Massimo Reynaudo, UPM would benefit from the arrangement by receiving cash, transferring pension liabilities to the joint venture, and owning half of the new company.\n\nThe arrangement would...
12/4/2025, 6:21 PM
by PörssiPatruuna
20
That slide in UPM’s presentation today tells how strong UPM’s desire is to get rid of graphic papers. UPM’s contribution to the company is 3.43 times more valuable than SAPPI’s. Still, the ownership stakes are 50/50, as UPM wants to get much more cash out of the arrangement immediately...
12/4/2025, 8:07 PM
by Logitech
15
Here are also Antti’s comments on this upcoming joint venture between UPM and Sappi. UPM and Sappi intend to establish a joint venture for graphic papers. In our opinion, the arrangement is strategically sound, as it reduces the company’s dependence on a structurally declining paper...
12/5/2025, 6:12 AM
by Sijoittaja-alokas
14
publish.ne.cision.com ViewReleaseInStandardHtml UPM invests in domestic logistics UPM is replacing the foreign wagon capacity of its timber transports with domestic ones by purchasing raw timber wagons manufactured in Pieksämäki from VR FleetCare. The new wagon fleet will transport...
10 hours ago
by Cadel
12
Thanks for the observations. I wondered about those figures and thought that UPM, based on them, would immediately reduce its investment in graphic paper in the arrangement. However, UPM brings about 3.7 Mt of annual capacity to the JV, while SAPPI brings about 2.0 Mt. It’s unlikely...
12/4/2025, 9:07 PM
by Logitech
6
When UPM sold its packaging material business to Billerud in 2012, the same pattern was also in Pietarsaari in addition to Tervasaari. In Pietarsaari, UPM produces pulp, and on the same plot, Billerud still makes kraft paper and sack paper.
7 hours ago
by Enronin tilintarkastaja
3
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