UPM Annual Report 2019

11.

Tangible assets

13.

Inventories

ADVANCE PAYMENTS AND CONSTRUCTION IN PROGRESS

EURm

2019

2018

MACHINERY AND EQUIPMENT

OTHER TANGIBLE ASSETS

Raw materials and consumables Finished products and goods

165

210

LAND AND WATER AREAS

25 16

27 29

EURm

BUILDINGS

TOTAL

Advance payments

2019 Accumulated costs

206

267

Carrying value, at 31 December

421

611

2,200 -1,600

143 -118

22

3,398 -2,099

Accumulated amortisation and impairments

—

-381

— —

Revaluations

300 721 720

—

—

—

300

230 244

601 645

25 25

22

1,599 1,646

Carrying value, at 31 December Carrying value, at 1 January

14.

Current receivables

11

Additions Disposals

2

7

28

3

20

59

RECEIVABLES FROM PARTICIPATING INTEREST COMPANIES

-1 — —

-3

—

— -3 —

— — -9

-4

RECEIVA- BLES FROM GROUP COMPANIES

Depreciations Reclassifications

-19

-80

-102

1

8

—

EURm

TOTAL

721

230

601

25

22

1,599

Carrying value, at 31 December

2019 Trade receivables Loan receivables 1)

405 570

371 570

8

2018 Accumulated costs

— — —

420

623 -379

2,166

142 -117

11 — — 11 19 10

3,363 -2,017

Prepayments and accrued income

31 25

1 2

Accumulated amortisation and impairments

—

-1,520

EURm

2019

2018

Other current receivables

Revaluations

300 720 757

—

—

—

300

Prepayments and accrued income Energy taxes

Carrying value, at 31 December

1,031

944

8

244 256

645 668

25 26

1,646 1,726

Carrying value, at 31 December Carrying value, at 1 January

7

6 1

Personnel expenses

—

2018 Trade receivables Loan receivables 1)

Additions Disposals

1

6

45

2

64

Interest income

6

10

564 650

529 650

5

-14

—

—

— -4

— —

-14

Exchange gains and losses

10

7 4 3

— — —

Depreciations Reclassifications

— —

-20

-83

-107

Income taxes Other items

5 2

Prepayments and accrued income

30 46

1

2

16

1

-18

—

Other current receivables

—

Changes in revaluations

-23 720

—

—

—

— 11

-23

31

30

Carrying value, at 31 December

Carrying value, at 31 December

1,290

1,180

5

244

645

25

1,646

Carrying value, at 31 December

1) There were no loans granted to the company’s President and CEO and members of the Board of Directors at 31 December 2019 and 2018.

12.

Other non-current assets

15.

Equity

RECEIVABLES FROM PARTICIPATING INTEREST COMPANIES

RESERVE FOR INVESTED NON- RESTRICTED EQUITY

HOLDINGS IN PARTICIPATING INTEREST COMPANIES

TOTAL SHAREHOLDER’S EQUITY

HOLDINGS IN GROUP COMPANIES

OTHER SHARES AND HOLDINGS

RECEIVABLES FROM GROUP COMPANIES

OTHER NON- CURRENT RECEIVABLES

REVALUATION RESERVE

RETAINED EARNINGS

PROFIT/LOSS FOR THE PERIOD

EURm

SHARE CAPITAL

EURm

TOTAL

2019 Carrying value, at 1 January

2019 Accumulated costs

890

142

1,273

1,853

780

4,938

4,492 -1,415 3,077 4,136

5

3

864

4

7

5,375 -1,415 3,960 4,801

Transfer of profit from previous year

— — —

— — —

— — —

780

-780

—

Accumulated value adjustments Carrying value, at 31 December Carrying value, at 1 January

—

—

—

—

—

Profit for period

—

756

756

5 5

3 3

864 646 234

4 4

7 7

Dividend distribution

-693 1,940

—

-693

890

142

1,273

756

5,000

Carrying value, at 31 December

Additions Disposals

197

— —

— —

— —

— —

431

-1,256 3,077

-16

-1,272 3,960

2018 Carrying value, at 1 January

5

3

864

4

7

Carrying value, at 31 December

890

165

1,273

1,608

859

4,794

Transfer of profit from previous year

— — — —

— — —

— — — —

859

-859

—

2018 Accumulated costs

Profit for period

—

780

780 -613

5,551 -1,415 4,136 4,363

5

3

646

4

7

6,216 -1,415 4,801 5,080

Dividend distribution Changes in revaluations

-613

— —

Accumulated value adjustments Carrying value, at 31 December Carrying value, at 1 January

—

—

—

—

—

-23 142

—

-23

5 5

3 4

646 699

4 4

7 7

890

1,273

1,853

780

4,938

Carrying value, at 31 December

Additions Disposals

14

— — —

— — —

8

— — —

— — —

22

-243

-61

-304

EURm

2019

2018

Value adjustments 1)

2

—

2

Distributable funds Reserve for invested non-restricted equity Retained earnings from previous years

4,136

5

3

646

4

7

4,801

Carrying value, at 31 December

1,273 1,853

1,273 1,940

1) Value adjustments are recognised under financial items.

Profit for the period

780

756

3,906

Total distributable funds at 31 December

3,969

206

207

UPM ANNUAL REPORT 2019

UPM ANNUAL REPORT 2019

CONTENTS

ACCOUNTS

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS