UPM Annual Report 2021

ACCOUNTS FOR 2021

UPM

BEYOND FOSSILS

STRATEGY

BUSINESSES

RESPONSIBILITY

GOVERNANCE

2) Prepayments and accrued income

9. Other non-current assets

EURm

2021 2020

RECEIVABLES FROM PARTICIPATING INTEREST COMPANIES

OTHER NON CURRENT RECEIVA BLES

Energy taxes Interest income

—

7 6

HOLDINGS IN PARTICIPATING INTEREST COMPANIES

RECEIVABLES FROM GROUP COMPANIES

11 10

HOLDINGS IN GROUP COMPANIES

OTHER SHARES AND HOLDINGS

Exchange gains and losses

14 11

EURm

TOTAL

Income taxes Other items

7 2

2021 Accumulated costs

4

6,024 -1,414 4,610 3,788

5

3

786

3

— — — — — — — — — — —

6,822 -1,414 5,408 4,516

Carrying value, at 31 December

30

42

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

—

—

—

—

5 5

3 3

786 716 104

3 4 2

11. Equity

Additions Disposals

829

— — —

— — —

935

RESERVE FOR INVESTED NON RESTRICTED EQUITY

-8

-34

-2

-44

Value adjustments 1)

1

—

—

1

PROFIT/LOSS FOR THE PERIOD

TOTAL SHARE HOLDER’S EQUITY

SHARE CAPITAL

REVALUATION RESERVE

RETAINED EARNINGS

Carrying value, at 31 December

4,610

5

3

786

3

5,408

EURm

2020 Accumulated costs

2021 Carrying value, at 1 January Transfer of profit from previous year

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

5

3

716

4

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

4,555

890

142

1,273

2,002

249 -249 469

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

—

—

—

—

— — —

— — —

249

—

5 5

3 3

716 864

4 4

Profit for period

— —

—

469 -693

7

Dividend distribution

-693

—

Additions Disposals

719

— —

— —

37

— —

—

756 -200

Carrying value, at 31 December 2020 Carrying value, at 1 January Transfer of profit from previous year

890

142

1,273

1,557

469

4,330

-7

-186 716

-7

Carrying value, at 31 December

3,788

5

3

4

—

4,516

890

142

1,273

1,940

756 -756 249

5,000

1) Value adjustments are shown in financial expenses

— — —

— — —

— — —

756

Profit for period

—

249 -693

10. Current receivables

Dividend distribution

-693

—

Carrying value, at 31 December

890

142

1,273

2,002

249

4,555

RECEIVABLES FROM PARTICIPATING INTEREST COMPANIES

EURm

2021

2020

RECEIVABLES FROM GROUP COMPANIES

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

RECEIVABLES FROM OTHERS

EURm

TOTAL

1,273 1,557

1,273 2,002

2021 Trade receivables Loan receivables 1)

559

9

32

601

469

Profit for the period

249

1,114

— — —

—

1,114

Total distributable funds at 31 December

3,299

3,524

4

26

30

Prepayments and accrued income 2)

—

271 330

271

Other current receivables

Carrying value, at 31 December

1,678

10

2,017

2020 Trade receivables Loan receivables 1)

280 675

8

31

319 675

— — —

—

1

41

42

Prepayments and accrued income 2)

—

125 198

125

Other current receivables

Carrying value, at 31 December

956

8

1,162

1) There were no loans granted to the company’s President and CEO and members of the Board of Directors at 31 December 2021 and 2020.

216

UPM FINANCIAL REPORT 2021 217 UPM ANNUAL REPORT 2021 217

UPM ANNUAL REPORT 2021

UPM FINANCIAL REPORT 2021 216