UPM Annual Report 2018
UPM AT A GLANCE
STRATEGY
BUSINESSES
SOCIETY AND ENVIRONMENT
GOVERNANCE AND COMPLIANCE
REPORT OF THE BOARD OF DIRECTORS
FINANCIAL STATEMENTS
AUDITOR’S REPORT
OTHER FINANCIAL INFORMATION
Financial information 2009–2018
Capital expenditure excluding acquisitions and shares EURm
Operating profit
Sales and personnel
Comparable EBITDA
Operating cash flow
Free cash flow EURm
EURm
%
EURm
%
EURm
EUR
EURm
30,000 25,000 20,000 15,000 10,000 5,000 0 employees
18 15 12
1,800 1,500 1,200
12,000 10,000 8,000 6,000 4,000 2,000 0
2,000
2,000
1,500
20
4
500
1,600
1,200
16
400
1,500
3
1,200
900
12
300
9 6 3 0
900 600 300 0
1,000
2
800
600
8
200
500
1
400
300
4
100
0
0
0
0
0
0
10
13 12 11 9
14 15 16 17 18
10
13 12 11 9
14 15 16 17 18
10
13 12 11 9
14 15 16 17 18
10
13 12 11 9
14 15 16 17 18
10
13 12 11 9
14 15 16 17 18
10
13 12 11 9
14 15 16 17 18
■ 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
%
1.5
10,000
15,000
5,000
50
15
15
5
18 15 12
1,800 1,500 1,200
3.2
1.2
8,000
12,000
4,000
40
12
12
4
2.4
0.9
6,000
9,000
3,000
30
9
9
3
1.6
9 6 3 0
900 600 300 0
0.6
4,000
6,000
2,000
20
6
6
2
0.8
0.3
2,000
3,000
1,000
10
3
3
1
0
0
0
0
0
0
0
0
0
10
13 12 11 9
14 15 16 17 18
10
13 12 11 9
14 15 16 17 18
10
13 12 11 9
14 15 16 17 18
10
13 12 11 9
14 15 16 17 18
10
13 12 11 9
14 15 16 17 18
10
13 12 11 9
14 15 16 17 18
■ Dividend per share
■ Equity
■ Capital employed Comparable ROCE
■ Net debt
Dividend to operating cash flow
Comparable ROE
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.
190
191
CONTENTS
ACCOUNTS
UPM ANNUAL REPORT 2018
UPM ANNUAL REPORT 2018
Made with FlippingBook flipbook maker