UPM Annual Report 2017

Accounts

In brief

Strategy

Businesses

Stakeholders

Governance

Parent company accounts (Finnish Accounting Standards, FAS)

Balance sheet

EURm

NOTE

2017

2016

ASSETS Intangible assets Tangible assets

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

35

35

1,726 4,363

1,766 4,365

Holdings in group companies

Income statement

Holdings in participating interest companies

5 4

5 4

Other shares and holdings

EURm Sales

NOTE

2017 2,217

2016 2,811

Receivables from group companies

699

756

Receivables from participating interest companies

4 7

5 7

1

Other non-current receivables

Change in inventories of finished goods and work in progress

5 4

– 3

Non-current assets

6,842

6,944

Production for own use Other operating income Materials and services

2 3 4 5 6

208

152

Inventories

143

174

–1,301

–1,901

Trade receivables

27

26

Personnel expenses

–237 –118 –164

–343 –172 –178

Receivables from group companies

1,016

1,400

Depreciation, amortisation and impairment charges

Receivables from participating interest companies

8

12

Other operating expenses

Other current receivables Cash and cash equivalents

69

102 908

Operating profit

614

373

589

Current assets

1,852 8,694

2,621 9,565

Financial income and expenses Profit before closing entries and tax

7

354 968

6

Assets

379 –42 –81 255

Closing entries Income taxes

8 9

–1

–108

EURm

NOTE

2017

2016

Profit for the period

859

EQUITY AND LIABILITIES Share capital

15 15 15 15

890 165

890 206

Revaluation reserve

Reserve for invested non-restricted equity

1,273 1,608

1,273 1,860

Retained earnings Profit for the period

859

255

Equity

4,794

4,483

Accumulated depreciation difference

454

455 170

Provisions

16

65

Bonds

17 17 17 17 17 18 18 18 18 18 18 18

313

593 568

Loans from financial institutions

– –

Pension loans

68

Payables to group companies Other non-current liabilities

385 156 853

314 170

Non-current liabilities

1,713

Bonds

208

292

Loans from financial institutions

–

3

Pension loans Trade payables

68

68

225

211

Payables to group companies

1,832

1,903

Payables to participating interest companies

–

1

Other current liabilities

193

266

Current liabilities

2,527 3,380 8,694

2,744 4,456 9,565

Liabilities

Equity and liabilities

CONTENTS

ACCOUNTS

162

163

UPM Annual Report 2017

UPM Annual Report 2017