UPM Annual Report 2022

ACCOUNTS FOR 2022

UPM

BEYOND FOSSILS

BUSINESSES

RESPONSIBILITY

GOVERNANCE

Change in net debt 2022

Change in net debt 2021

Reported in financing activities in cash flow statement

Reported in financing activities in cash flow statement

NON CURRENT

NON CURRENT

NET

INVEST

OTHER FINANCIAL ASSETS

CASH AND CASH EQUIVALENTS NET DEBT

LOANS INCL. REPAYMENT S

NET

INVEST

OTHER FINANCIAL ASSETS

CASH AND CASH EQUIVALENTS NET DEBT

LOANS INCL. REPAYMENTS

LEASE LIABILITIES

CURRENT LOANS

DERIVA

MENT FUNDS

LEASE LIABILITIES

CURRENT LOANS

DERIVA

MENT FUNDS

EURm

TIVES

EURm

TIVES

Carrying value, at 1 January Change in net debt, cash Proceeds from non-current debt Payments of non-current debt

Carrying value, at 1 January Change in net debt, cash Proceeds from non-current debt Payments of non-current debt

2,046

574

2

-99

-100

-317

-1,460

647

1,489

544

2

-161

—

-97

-1,720

56

4,402 -2,550

— —

— — —

— — — —

— — — — —

— — — — —

— — — — —

4,402 -2,550

600

— —

— — — — —

— — — —

— — — — —

— — — — —

— — — — —

600

-16

-16 -84

Lease repayments

— — —

-91

-91

Lease repayments

— — —

-84

Change in current liabilities Net cash flows from derivatives

— —

439

439

Change in current liabilities Net cash flows from derivatives

— —

—

—

20

20

34

34

Transaction costs and discounts in operating cash flow Change in other financial assets in operating cash flow Change in other financial assets in investing cash flow

Transaction costs and discounts in operating cash flow Change in other financial assets in operating cash flow Change in other financial assets in investing cash flow

-5

—

—

—

—

—

—

-5

-7

—

—

—

—

—

—

-7

—

—

—

—

—

-208

—

-208

—

—

—

—

—

-224

—

-224

—

—

—

—

—

2

—

2

—

—

—

—

—

5

—

5

Change in investment funds

— —

— —

— —

— —

99

— —

—

99

Change in investment funds

— —

— —

— — — — — — — — —

— —

-100

— —

—

-100 268 476

Change in cash and cash equivalents

—

-610 -610

-610

Change in cash and cash equivalents

—

268 268

1,847

-91

439

20

99

-206

1,499

577

-84

34

-100

-219

Change in net debt, non-cash Companies acquired

Change in net debt, non-cash New contracts and subsequent additions

22

—

— — — — — — —

— — —

— — — — — — —

— — — — — — —

— — — —

22

10

93

— —

— — — — — —

— — — — — —

— — —

103

New contracts and subsequent additions

— —

171

171

Lease liability reassessments Fair value gains and losses Exchange gains and losses Effective interest rate adjustment

—

1

1

Lease liability reassessments Fair value gains and losses Exchange gains and losses Effective interest rate adjustment

-5

-5

-53 21

—

28

-25 33

-180

—

169

-11 49

21

— —

-8

28

18

— —

3

3

—

—

3

3

—

—

3

-20

115 574

28 -99

-8

114 647

Carrying value, at 31 December

-127

184 668

169

3

229

2,046

2

-100

-317

-1,460

Carrying value, at 31 December

3,766

441

90

-1

-523

-2,067

2,374

196

197

UPM ANNUAL REPORT 2022

UPM ANNUAL REPORT 2022

UPM FINANCIAL REPORT 2022

196

UPM FINANCIAL REPORT 2022

197