UPM Announced Improved Profit Outlook for 2021

SEATTLE (Scrap Monster): Finnish paper mill company UPM-Kymmene Oyj improved its outlook for 2021.

The company expects the EBIT to increase in H1 2021, compared with H1 2020. Earlier, the company had expected its H1 2021 EBIT to be lower compared with the prior year period. As per the latest outlook published yesterday, UPM expects the full year 2021 EBIT to rise from that of 2020. Meantime, the company is due to publish its Q1 2021 interim report on April 27^th, 2021.

The EBIT during Q1 2021 stood at EUR 279 million, more or less flat in comparison with Q1 2020. The pulp demand continued to remain healthy during the quarter. Q1 also witnessed higher than expected rise in pulp prices. As expected, the demand and pricing for communication papers materialized during the quarter. The other segments including labelling materials, specialty papers and energy too witnessed strong quarterly demand, said company press release.

UPM announced that it has rescheduled the maintenance shutdown at the UPM Kymi pulp mill to fourth quarter this year. It was earlier scheduled to be held in Q2. On the other hand, the maintenance shutdowns at the UPM Fray Bentos pulp mill and the Olkiluoto power plant will be carried out in Q2, as planned before.

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