Welcome to UPM Quarter 4 and Full Year 2024 Results Webcast

Company Participants:

Massimo Reynaudo – CEO

Tapio Korpeinen – CFO

Conference Call Participants:

Ephrem Ravi – Citigroup

Cole Hathorn – Jefferies

Johannes Grunselius – DNB Markets

Lars Kjellberg – Stifel

Andrew Jones – UBS

Robin Santavirta – Carnegie

Massimo Reynaudo:

Hello everyone. Welcome to UPM Quarter 4 and Full Year 2024 Results Webcast.

Today, we are pleased to announce our earnings for the last quarter of 2024 and the full year results. It has been a challenging but successful year for UPM-Kymmene Oyj. Despite the uncertainties in the global market, we have managed to achieve our targets and deliver strong performance across all our business segments.

I would like to thank our dedicated team for their hard work and commitment, which has been instrumental in driving our success. Our CEO, Tapio Korpeinen, will now walk you through the financial highlights of the fourth quarter and the full year.

Tapio Korpeinen:

Thank you, Massimo. I am pleased to report that UPM has delivered a solid performance in the fourth quarter, with revenues exceeding expectations and margins improving across the board. Our efforts to streamline operations and enhance efficiency have paid off, resulting in a more agile and competitive company.

Looking ahead, we remain cautiously optimistic about the future. While the global economic environment continues to be uncertain, we believe that our strong market position and focus on innovation will drive growth and value creation for our shareholders.

Effects on Me:

As a shareholder or potential investor, the positive financial results announced by UPM in the fourth quarter of 2024 are likely to have a direct impact on your investment portfolio. The company’s strong performance and strategic initiatives are expected to boost shareholder value and confidence in the long-term growth prospects of UPM-Kymmene Oyj.

Effects on the World:

The successful financial results of UPM in the fourth quarter of 2024 are not only good news for the company and its stakeholders but also for the global economy. As a major player in the forestry and paper industry, UPM’s performance reflects the overall health and resilience of the market. A strong UPM is a positive sign for the industry as a whole, indicating stability and growth opportunities in the sector.

Conclusion:

In conclusion, UPM-Kymmene Oyj has demonstrated its ability to navigate challenges and deliver strong results in the fourth quarter of 2024. The company’s performance reflects its commitment to innovation, efficiency, and value creation. As we look to the future, we are confident in our ability to continue driving sustainable growth and creating value for our stakeholders.