UPM Annual Report 2020

9. Other non-current assets

11. Equity

RESERVE FOR INVESTED NON RESTRICTED EQUITY

RECEIVABLES FROM PARTICIPATING INTEREST COMPANIES

OTHER NON CURRENT RECEIVA BLES

HOLDINGS IN PARTICIPATING INTEREST COMPANIES

RECEIVABLES FROM GROUP COMPANIES

PROFIT/LOSS FOR THE PERIOD

TOTAL SHARE HOLDER’S EQUITY

HOLDINGS IN GROUP COMPANIES

OTHER SHARES AND HOLDINGS

SHARE CAPITAL

REVALUATION RESERVE

RETAINED EARNINGS

EURm

EURm

TOTAL

2020 Carrying value, at 1 January Transfer of profit from previous year

2020 Accumulated costs

890

142

1,273

1,940

756 -756 249

5,000

5,204 -1,415 3,788 3,077

5

3

716

4

— — —

5,931 -1,415 4,516 3,960

— — —

— — —

— — —

756

—

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

—

—

—

—

Profit for period

—

249 -693

5 5

3 3

716 864

4 4

Dividend distribution

-693

—

7

Carrying value, at 31 December 2019 Carrying value, at 1 January Transfer of profit from previous year

890

142

1,273

2,002

249

4,555

Additions Disposals

719

— —

— —

37

— —

—

756 -200

-7

-186 716

-7

890

142

1,273

1,853

780 -780 756

4,938

Carrying value, at 31 December

3,788

5

3

4

—

4,516

— — — —

— — — —

— — — —

780

—

2019 Accumulated costs

Profit for period

—

756 -693

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

5

3

864

4

7

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

Dividend distribution Changes in revaluations

-693

— —

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

—

—

—

—

—

—

—

5 5

3 3

864 646 234

4 4

7 7

Carrying value, at 31 December

890

142

1,273

1,940

756

5,000

Additions Disposals

197

— —

— —

— —

— —

431

EURm

2020

2019

-1,256 3,077

-16

-1,272 3,960

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

Carrying value, at 31 December

5

3

864

4

7

1,273 2,002

1,273 1,940

10. Current receivables

249

Profit for the period

756

Total distributable funds at 31 December

3,524

3,969

RECEIVABLES FROM PARTICIPATING INTEREST COMPANIES

RECEIVABLES FROM GROUP COMPANIES

12. Provisions

RECEIVABLES FROM OTHERS

EURm

TOTAL

2020 Trade receivables Loan receivables 1)

280 675

8

31

319 675

OTHER 1)

EURm

RESTRUCTURING TERMINATION ENVIRONMENTAL

TOTAL

— — —

—

2020 Provisions at 1 January

1

41

42

Prepayments and accrued income 2)

3

3 4

8

35

49

—

125 198

125

Other current receivables

Provisions made during the year Provisions utilised during the year Carrying value, at 31 December

— —

— —

141

145

Carrying value, at 31 December

956

8

1,162

-1

-5

-7

2019 Trade receivables Loan receivables 1)

3

5

8

172

187

371 570

8

26

405 570

— — —

—

2019 Provisions at 1 January

1 2

30 23 79

31 25

Prepayments and accrued income 2)

3

4 1

8

85

101

Other current receivables

Provisions made during the year Provisions utilised during the year Carrying value, at 31 December

— —

— —

—

1

Carrying value, at 31 December

944

8

1,031

-3

-50 35

-53

3 49 1) Other provisions are attributable to onerous contracts and fair value losses of financial derivatives. At the end of 2020 the fair value loss in other provisions of EUR 5 million (7 million) is attributable to one group internal cross currency swap and EUR 47 million (0 million) to group internal foreign currency forwards. 3 8

1) There were no loans granted to the company’s President and CEO and members of the Board of Directors at 31 December 2020 and 2019. 2) Prepayments and accrued income

EURm

2020 2019

Energy taxes Interest income

7 6

7 6

Exchange gains and losses

14 11

10

Income taxes Other items

5 2

4

Carrying value, at 31 December

42

31

210

UPM ANNUAL REPORT 2020 UPM FINANCIAL REPORT 2020 95 211

UPM ANNUAL REPORT 2020

UPM FINANCIAL REPORT 2020 94