UPM Lowers Its 2024 Outlook
Oct 16 (Reuters) -UPM-Kymmene Oyj UPM.HE:
PROFIT WARNING, INSIDE INFORMATION: UPM LOWERS ITS OUTLOOK DUE TO LOWER DELIVERIES IN MOST BUSINESSES AND DECREASED PULP PRICES
DURING SECOND HALF OF YEAR, MARKET DEMAND FOR UPM'S PRODUCTS HAS BEEN WEAKER THAN EXPECTED
LOWER DELIVERY VOLUMES IN MOST BUSINESSES
COMPARABLE EBIT IN Q3 2024 INCREASED BY 32% TO EUR 291 MILLION FROM Q3 2023
ON POSITIVE SIDE, NEW UPM PASO DE LOS TOROS PULP MILL HAS OPERATED IN FULL PRODUCTION SINCE ITS FIRST MAINTENANCE SHUTDOWN IN JUNE
COMPARABLE EBIT IN Q4 2024 IS EXPECTED TO BE ON SIMILAR LEVEL OR INCREASE FROM Q4 2023 (EUR 323 MILLION)
COMPARABLE EBIT IN FULL-YEAR 2024 IS EXPECTED TO BE ON SIMILAR LEVEL OR INCREASE FROM 2023.
WEAKENED PULP MARKET AND HIGH WOOD COST IN FINLAND HAD A NEGATIVE IMPACT ON UPM FIBRES BUSINESS
Source text for Eikon: ID:nWkr2t4Pwn
Further company coverage: UPM.HE
(Gdansk Newsroom)
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