UPM Sees H2 Comp EBIT To Be In Range Of EUR 425-650 Mln

UPM-Kymmene Oyj UPM:

• UPM Q2 ADJUSTED EBITDA EUR 257 MILLION VERSUS. IBES ESTIMATE EUR 334.3 MILLION

• UPM Q2 REVENUE EUR 2,400 MILLION VERSUS. IBES ESTIMATE EUR 2,514 MILLION

• UPM Q2 EPS EUR 0.13

• UPM Q2 NET INCOME EUR 71 MILLION

• UPM Q2 ADJUSTED EBIT EUR 126 MILLION VERSUS. IBES ESTIMATE EUR 190.9 MILLION

• UPM Q2 EBIT EUR 107 MILLION

• H2 OUTLOOK: COMPARABLE EBIT TO BE IN RANGE OF EUR 425-650 MILLION

• SCHEDULED SHUTDOWN OF KAUKAS PULP MILL IN Q3 WILL BE EXTENDED TO APPROXIMATELY TWO MONTHS

• SEES PERFORMANCE IN H2 COMPARED WITH H1 TO BENEFIT FROM LOWER VARIABLE COSTS

• IN H2 SEES LOWER SALES MARGINS FOR PULP, LOWER DELIVERIES OF COMMUNICATION PAPERS, AND HIGHER MAINTENANCE ACTIVITY

• DUE CONTINUED HIGH WOOD PRICES, CO WILL TAKE FURTHER CURTAILMENTS AT OUR FINNISH PULP MILLS AS NEEDED