UPM Annual Report 2021

ACCOUNTS FOR 2021

UPM

BEYOND FOSSILS

STRATEGY

BUSINESSES

RESPONSIBILITY

GOVERNANCE

Balance sheet

EURm

NOTE

2021

2020

EURm

NOTE

2021

2020

EQUITY AND LIABILITIES Equity Share capital

ASSETS Non-current assets Intangible assets Intangible rights

890 141

890 142

5

5

Revaluation reserve

46 11 62

59

Reserve for invested non-restricted equity

1,273 1,557

1,273 2,002

Other intangible assets

3

Retained earnings Profit for the period

Advance payments

67

469

249

7

Total equity

Tangible assets Land and water areas

4,330

4,555

11

718 196 514

719 212 579

Accumulated depreciation difference

417

439

Buildings

Provisions Termination provisions

Machinery and equipment

21 13

24

3

5

Other tangible assets

7

149 152

183 187

Advance payments and construction in progress

Other provisions

1,462

1,541

12

8

LIABILITIES Non-current liabilities Bonds

Investments Holdings in group companies

4,610

3,788

5 3

5 3

1,581

1,056

Holdings in participating interest companies

Loans from financial institutions Payables to group companies Other non-current liabilities

200 153 161

100 168 166

Other shares and holdings

786

716

Receivables from group companies

3 0

4 0

Receivables from participating interest companies

2,095

1,490

Other non-current receivables

13

Current liabilities Trade payables

5,408 6,932

4,516 6,124

9

Total non-current assets

335

247

Payables to group companies

2,873

2,021

Current assets Inventories Raw materials and consumables Finished products and goods

Payables to participating interest companies

1

1

176

160

Other current liabilities

259

36 83

17 24

19 15

Accrued expenses and deferred income

98

3,566 5,661

2,390 3,880 9,061

Advance payments

14

Total liabilities

217

193

Equity and liabilities

Receivables Current receivables Trade receivables

10,561

32

31

1,678

956

Receivables from group companies

10

8

Receivables from participating interest companies

271

125

Other current receivables

26

41

Prepayments and accrued income

2,017

1,162

10

100

0

Other current financial assets Cash and cash equivalents

1,296 3,629

1,582 2,937 9,061

Total current assets

Assets

10,561

210

211

UPM ANNUAL REPORT 2021

UPM ANNUAL REPORT 2021

UPM FINANCIAL REPORT 2021 210