UPM Annual Report 2022
ACCOUNTS FOR 2022
UPM
BEYOND FOSSILS
BUSINESSES
RESPONSIBILITY
GOVERNANCE
Financial information 2013–2022
Sales and personnel
Comparable EBITDA
Comparable EBIT
Operating cash flow
Free cash flow
Capital expenditure excluding acquisitions and shares
EURm
%
%
EUR
EURm
employees
EURm
EURm
1,500 EURm
1,500 EURm
25
2,500
2,000
2,000
25,000
20
4
12,000
20
2,000
1,200
1,200
1,500
1,500
20,000
15
3
10,000
15
1,500
900
900
1,000
1,000
15,000
10
2
8,000
10
1,000
600
600
500
500
10,000
5
1
6,000
5
500
300
300
0
0
0
0
0
5,000
0
0
4,000
0
21 22 13 14 15 16 17 18 19 20
21 22 13 14 15 16 17 18 19 20
21 22 13 14 15 16 17 18 19 20
21 22 13 14 15 16 17 18 19 20
21 22 13 14 15 16 17 18 19 20
21 22 13 14 15 16 17 18 19 20
Comparable EBITDA % of sales
Operating cash flow Per share
Comparable EBIT Items affecting comparability % of sales
Sales Personnel
Equity and comparable ROE
Net debt and net debt to EBITDA
Dividend per share
Capital employed and comparable ROCE
Comparable profit before tax
Comparable earnings per share
EUR
%
%
%
%
EURm
EURm
18,000 EURm
EURm
3.0 EUR
4,000
2,000
13,000
15
15
4
20
1.6
100
1.4
12,000
2.5
16,000
12
12
80
3,000
1,500
3
15
1.2
11,000
2.0
1.0
14,000
9
9
60
10,000
0.8
2,000
1,000
2
10
1.5
9,000
40
12,000
6
6
0.6
1.0
8,000
0.4
1,000
500
1
5
20
10,000
3
3
0.5
7,000
0.2
0.0
0
6,000
8,000
0
0
0
0
0
0
0.0
17 18 19 20 15 16 13 14
21 22*
21 22 13 14 15 16 17 18 19 20
21 22 13 14 15 16 17 18 19 20
21 22 13 14 15 16 17 18 19 20
13 14 15 16 17
20
21 22
21 22 13 14 15 16 17 18 19 20
18
19
Dividend EUR per share (2022 proposal) % of comparable EPS
Equity Comparable ROE
Capital employed Comparable ROCE
Net debt Net debt to EBITDA
Comparable profit before tax Items affecting comparability % of sales
Comparable EPS Effect of items affecting comparability
*Board’s proposal
238
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UPM ANNUAL REPORT 2022
UPM ANNUAL REPORT 2022
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