UPM Annual Report 2022

ACCOUNTS FOR 2022

UPM

BEYOND FOSSILS

BUSINESSES

RESPONSIBILITY

GOVERNANCE

Parent company accounts (Finnish Accounting Standards, FAS) Income statement

Balance sheet

EURm

NOTE

2022

2021

ASSETS Non-current assets Intangible assets Intangible rights

5

5

EURm

NOTE

2022 2,414

2021 2,542

Other intangible assets

32 22 60

46 11 62

Sales

Advance payments

1

7

Change in inventories of finished goods and work in progress

15

-2

Tangible assets Land and water areas

Production for own use Other operating income

2

2

746 178 453

718 196 514

2

81

114

Buildings

Materials and services Raw materials and consumables purchased

Machinery and equipment

-1,449

-1,505

Other tangible assets

19 21

21 13

Change in inventories

-98

16

Advance payments and construction in progress

External charges

-6

-6

8

1,418

1,462

-1,553

-1,495

Investments Holdings in group companies

Personnel expenses Salaries and fees

5,834

4,610

-194

-211

Holdings in participating interest companies

5 3

5 3

Indirect employee costs Pension costs

Other shares and holdings

95

-31

Receivables from group companies

930

786

Other indirect employee costs

-7

-7

Receivables from participating interest companies

3

3

3

-106

-248

9

6,774 8,252

5,408 6,932

Depreciation, amortisation and impairment charges Depreciation and amortisation

Total non-current assets

-117

-123

Current assets Inventories Raw materials and consumables Finished products and goods

Impairment charges on non-current assets

0

-2

4 5

-117 -289 446

-124 -238 551

272

176

Other operating expenses

Operating profit

33 32

17 24

Advance payments

Financial income and expenses Income from non-current assets Dividend income from group companies Interest income from group companies Other interest and financial income Other interest income from group companies Other interest income from other companies Other financial income from group companies Other financial income from other companies

337

217

Receivables Current receivables Trade receivables

293

288

16

5

57

32

Receivables from group companies

2,581

1,678

63

25

Receivables from participating interest companies

17

10

6

1 0 6 0

Other current receivables

490

271

77

Prepayments and accrued income

23

26

0

10

3,167

2,017

Impairment charges on investments Interest and other financial expenses Interest expenses to group companies Interest expenses to other companies

-62

Other current financial assets Cash and cash equivalents

1

100

-35 -43

-10 -10 -20

1,840 5,345

1,296 3,629

Total current assets

Other financial expenses to group companies Other financial expenses to other companies

-3

Assets

13,598

10,561

-858 -547 -101

-255

30

Profit (loss) before closing entries and tax

581

Closing entries Depreciation difference

19 -24

22 -19

Group contributions granted

-5

3

Income taxes

6

-84

-115 469

Profit (Loss) for the period

-190

218

219

UPM ANNUAL REPORT 2022

UPM ANNUAL REPORT 2022

UPM FINANCIAL REPORT 2022

218

UPM FINANCIAL REPORT 2022

219