UPM Annual Report 2016

Accounts

In brief

Strategy

Businesses

Stakeholders

Governance

Parent company accounts (Finnish Accounting Standards, FAS)

Balance sheet

EURm

NOTE

2016

2015

ASSETS Intangible assets Tangible assets

10 11 12 12 12 12 12 12 13 14 14 14 14

35

187

1,766 4,365

2,262 3,984

Holdings in group companies

Income statement

Holdings in participating interest companies

5 4

93

Other shares and holdings

614 723

EURm Sales

NOTE

2016 2,811

2015 3,298

Receivables from group companies

255

Receivables from participating interest companies

5 7

6 7

1

Other non-current receivables

Change in inventories of finished goods and work in progress

– 3

2 4

Non-current assets

6,443

7,876

Production for own use Other operating income Materials and services

2 3 4 5 6

152

169

Inventories

174

314 135 868

–1901 –343

–2,056

Trade receivables

26

Personnel expenses

–445 –220 –268

Receivables from group companies

1,901

Depreciation, amortisation and impairment charges

–172 –178

Receivables from participating interest companies

12

11

Other operating expenses

Other current receivables Cash and cash equivalents

102 908

203 477

Operating profit

373

484

Current assets

3,122 9,565

2,008 9,884

Financial income and expenses Profit before closing entries and tax

7

6

168 652 –46 –61 545

Assets

379 –42 –81 255

Closing entries Income taxes

8 9

EURm

NOTE

2016

2015

Profit for the period

EQUITY AND LIABILITIES Share capital

15 15 15 15

890 206

890 427

Revaluation reserve

Reserve for invested non-restricted equity

1,273 1,860

1,273 1,714

Retained earnings Profit for the period

255

545

Equity

4,483

4,849

Accumulated depreciation difference

455 170

608

Provisions

16

60

Bonds

17 17 17 17

593 568

991 911 135 161

Loans from financial institutions

Pension loans

68

Other non-current liabilities

170

Non-current liabilities

1,399

2,198

Bonds

18 18 18 18 18 18 18

292

–

Loans from financial institutions

3

13 68

Pension loans Trade payables

68

211

300

Payables to group companies

2,217

1,489

Payables to participating interest companies

1

3

Other current liabilities

266

296

Current liabilities

3,058 4,456 9,565

2,169 4,367 9,884

Liabilities

Equity and liabilities

CONTENTS

ACCOUNTS

150

151

UPM Annual Report 2016

UPM Annual Report 2016