UPM Annual Report 2017
Accounts
In brief
Strategy
Businesses
Stakeholders
Governance
Financial information 2008–2017
Capital expenditure excluding acquisitions and shares EURm
Sales and personnel
Comparable EBITDA
Operating cash flow
Free cash flow EURm
Operating profit
EURm
EUR
EURm
30,000 25,000 20,000 15,000 10,000 5,000 0 employees
EURm
%
EURm
%
600 500 400 300 200 100 0
12,000 10,000
2,000
2,000
1,500
20
4
1,200 1,000
12 10
1,600
1,200
16
1,500
3
8,000 6,000 4,000 2,000 0
800 600 400 200 0
8 6 4 2 0
1,200
900
12
1,000
2
800
600
8
500
1
400
300
4
0
0
0
0
0
08
11 10 09
12 13 14 15 16 17
08
11 10 09
12 13 14 15 16 17
08
11 10 09
12 13 14 15 16 17
08
11 10 09
12 13 14 15 16 17
08
11 10 09
12 13 14 15 16 17
08
11 10 09
12 13 14 15 16 17
■ Sales
■ Comparable EBITDA % of sales
■ Operating cash flow Per share
Personnel
■ Comparable EBIT % of sales ■ Items affecting comparability
Net debt and net debt to EBITDA
Dividend per share
Equity and ROE
Capital employed and ROCE
Profit before tax
Earnings per share
EUR
%
EURm
%
EURm
%
EURm
EUR
EURm
%
15,000
5,000
1.5
50
10,000
15
15
5
1,200 1,000
2.0
12 10
12,000
4,000
1.2
40
8,000
12
12
4
1.5
800 600 400 200 0
8 6 4 2 0
9,000
3,000
0.9
30
6,000
9
9
3
1.0
6,000
2,000
0.6
20
4,000
6
6
2
0.5
3,000
1,000
0.3
10
2,000
3
3
1
0
0
0
0
0
0
0
0
0
08
11 10 09
12 13 14 15 16 17
08
11 10 09
13 12 13 14 15 16 17
08
11 10 09
12 13 14 15 16 17
08
11 10 09
12 13 14 15 16 17
08
11 10 09
12 13 14 15 16 17
08
11 10 09
12 13 14 15 16 17
■ Dividend per share Dividend to operating cash flow
■ Equity Comparable ROE
■ Capital employed Comparable ROCE
■ Net debt Net debt to EBITDA
■ Comparable profit before tax % of sales ■ Items affecting comparability
■ Comparable EPS ■ Effect of items affecting comparability
In 2016 UPM has relabeled the previously referenced “excluding special items” non-GAAP financial measures with “comparable” performance measures. Corresponding 2014 and 2015 group measures have been revised accordingly.
CONTENTS
ACCOUNTS
178
179
UPM Annual Report 2017
UPM Annual Report 2017
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