UPM Annual Report 2022

ACCOUNTS FOR 2022

UPM

BEYOND FOSSILS

BUSINESSES

RESPONSIBILITY

GOVERNANCE

9. Other non-current assets

2) Prepayments and accrued income

EURm

2022 2021

RECEIVABLES FROM PARTICIPATING INTEREST COMPANIES

OTHER NON CURRENT RECEIVA BLES

Energy taxes Interest income

—

—

HOLDINGS IN PARTICIPATING INTEREST COMPANIES

RECEIVABLES FROM GROUP COMPANIES

10

11 10

HOLDINGS IN GROUP COMPANIES

OTHER SHARES AND HOLDINGS

Exchange gains and losses

—

EURm

TOTAL

Income taxes Other items

10

7 2

2022 Accumulated costs

5

7,310 -1,476 5,834 4,610 1,285

5

3

930

3

— — — — — — — — — — — — — — — —

8,251 -1,476 6,774 5,408 1,620

Carrying value, at 31 December

25

30

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

—

—

—

—

5 5

3 3

930 786 332 -188

3 3 3

11. Equity

Additions Disposals

— — —

— — —

RESERVE FOR INVESTED NON RESTRICTED EQUITY

—

-3

-191

Value adjustments 1)

-62

—

—

-62

PROFIT/LOSS FOR THE PERIOD

TOTAL SHARE HOLDER’S EQUITY

SHARE CAPITAL

REVALUATION RESERVE

RETAINED EARNINGS

Carrying value, at 31 December

5,834

5

3

930

3

6,774

EURm

2021 Accumulated costs

2022 Carrying value, at 1 January Transfer of profit from previous year

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

5

3

786

3

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

890

141

1,273

1,557

469 -469 -190

4,330

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

—

—

—

—

— — — — —

— — —

— — — — —

469

—

5 5

3 3

786 716 104

3 4 2

Profit for period

—

-190 -693

Dividend distribution Changes in revaluations

-693

— — —

Additions Disposals

829

— — —

— — —

935

-2

—

-2 -1

-8

-34

-2

-44

Other changes

—

-1

Value adjustments 1)

1

—

—

1

Carrying value, at 31 December 2021 Carrying value, at 1 January Transfer of profit from previous year

890

140

1,273

1,333

-190

3,445

Carrying value, at 31 December

4,610

5

3

786

3

5,408

1) Value adjustments are shown in financial expenses

890

142

1,273

2,002

249 -249 469

4,555

— — — — —

— — — — —

— — — — —

249

—

10. Current receivables

Profit for period

—

469 -693

Dividend distribution Changes in revaluations

-693

— — —

— —

— —

RECEIVABLES FROM PARTICIPATING INTEREST COMPANIES

Other changes

RECEIVABLES FROM GROUP COMPANIES

Carrying value, at 31 December

890

142

1,273

1,557

469

4,330

RECEIVABLES FROM OTHERS

EURm

TOTAL

2022 Trade receivables Loan receivables 1)

EURm

2022

2021

783

17

57

857

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

1,795

— — —

—

1,795

1,273 1,333

1,273 1,557

Prepayments and accrued income 2)

2

23

25

Other current receivables

—

490 570

490

Profit (Loss) for the period

-190

469

Carrying value, at 31 December

2,581

17

3,167

Total distributable funds at 31 December

2,416

3,299

2021 Trade receivables Loan receivables 1)

559

9

32

601

1,114

— — —

—

1,114

Prepayments and accrued income 2)

4

26

30

Other current receivables

—

271 330

271

Carrying value, at 31 December

1,678

10

2,017

1) There were no loans granted to the company’s President and CEO and members of the Board of Directors at 31 December 2022 and 2021.

226

227

UPM ANNUAL REPORT 2022

UPM ANNUAL REPORT 2022

UPM FINANCIAL REPORT 2022

226

UPM FINANCIAL REPORT 2022

227