UPM-Kymmene Oyj (UPMKF) Q2 2025 Earnings Call Transcript

2025-07-24 10:11:51 ET

UPM-Kymmene Oyj (UPMKF)

Q2 2025 Earnings Conference Call

July 24, 2025 06:15 AM ET

Company Participants

Massimo Reynaudo - President & CEO

Tapio Juhani Korpeinen - CFO & Executive VP of UPM Energy

Conference Call Participants

Andrew Ian Jones - UBS Investment Bank, Research Division

Cole Hathorn - Jefferies LLC, Research Division

Ephrem Ravi - Citigroup Inc., Research Division

James Perry - Citigroup Inc. Exchange Research

Reinhardt van der Walt - BofA Securities, Research Division

Robin Santavirta - DNB Carnegie, Research Division

Presentation

Massimo Reynaudo

Welcome to UPM's Quarter 2 2025 Results Webcast. My name is Massimo Reynaudo. I'm the CEO of UPM, and I'm here today with Tapio Korpeinen, the CFO. Over the next half an hour or so, we wil share the main facts of the second quarter and then open up for your questions.

Three months ago, we reported a good start of the year, but the promising start took a negative turn during the second quarter. In quarter 2, in fact, our sales decreased by 6% from last year to EUR 2.4 billion, mainly due to lower sales prices and unfavorable changes in currency exchange rates. Our comparable EBIT decreased by 31% to EUR 126 million. The EBIT margin was 5.2%. The tariff announcements caused uncertainty in the global trade, which weakened the demand for our products and weakened the U.S. dollar. These had negative impact, particularly on our Fibres and Communication Paper businesses....

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