Despite material pulp market headwinds, especially in Q4 19, UPM reported stable full-year results. The turnaround in paper and energy, along with sustained cost optimisation, rendered meaningful support. Moreover, UPM now has two sizeable high-growth projects – in pulp and biochemicals – underway, and its strong balance sheet position should render a valuable cushion. Although the brewing (Coronavirus-induced) macro uncertainties is a (near-term) cause for concern.
03 Mar 2020
Stable full-year operating results; well-positioned to withstand (looming) uncertainties
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Stable full-year operating results; well-positioned to withstand (looming) uncertainties
Despite material pulp market headwinds, especially in Q4 19, UPM reported stable full-year results. The turnaround in paper and energy, along with sustained cost optimisation, rendered meaningful support. Moreover, UPM now has two sizeable high-growth projects – in pulp and biochemicals – underway, and its strong balance sheet position should render a valuable cushion. Although the brewing (Coronavirus-induced) macro uncertainties is a (near-term) cause for concern.