Despite the impact of the Finnish strike in many key divisions, UPM’s Q1 22 results came in well ahead of market expectations. Market dynamics in most divisions remain largely promising and, hence, the firm’s earnings seem resilient – which is also reflected in the management guidance. However, considering the brewing risks and challenges, particularly in Europe, some near-term performance pressure/restraint cannot be ruled out. Nevertheless, any sell-off should be capitalised on as an accumulat ....
27 Apr 2022
Q1 performance moderation; but 2022 optimism maintained (for now)
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Q1 performance moderation; but 2022 optimism maintained (for now)
Despite the impact of the Finnish strike in many key divisions, UPM’s Q1 22 results came in well ahead of market expectations. Market dynamics in most divisions remain largely promising and, hence, the firm’s earnings seem resilient – which is also reflected in the management guidance. However, considering the brewing risks and challenges, particularly in Europe, some near-term performance pressure/restraint cannot be ruled out. Nevertheless, any sell-off should be capitalised on as an accumulat ....