UPM Annual Report 2025

We are UPM

Governance

Accounts and performance

UPM in brief

Our strategy

Our businesses

Sustainability

Events in 2025

June

October

12 The UPM Raflatac business area is renamed UPM Adhesive Materials. 10 UPM expands its over 15-year collaboration with the Baltic Sea Action Group (BSAG) to include forestry water protection.

9 UPM Adhesive Materials announces plans to open a new slitting and distribution terminal near Hanoi, northern Vietnam in 2026.

November

January

April

4 UPM Energy commissions a grid-balancing ultracapacitor at the Kuusankoski hydropower plant in Finland. 19 UPM Plywood launches new WISA ® -LNG Spruce plywood for the insulation elements of LNG cargo tanks.

2 UPM announces that it has been listed as the only forest and paper industry company in the Dow Jones World and European Sustainability Indices 2024–2025.

8 UPM completes the share buy-back program commenced in February.

10 UPM Adhesive Materials becomes the first labeling business to include product footprint data in customer quotes. 16 UPM Specialty Papers invests over €10 million in modernizing the UPM Tervasaari mill in Valkeakoski, Finland. 17 Tuija Suur-Hamari is appointed Executive Vice President of UPM Plywood and a member of the Group Executive Team as of September 1, 2025.

February

December

17 UPM’s new biorefinery in Leuna, Germany, achieves ISCC PLUS, PEFC, and FSC™ chain-of-custody certifications. 25 UPM's stream water program, launched in 2016, expands to include UPM-owned land areas in the catchment area.

July

24 UPM Adhesive Materials announces an investment in its factory in Mills River, North Carolina, to increase production capacity in the growing advanced labels market. 28 Sami Pauni is appointed Executive Vice President, General Counsel, and a member of the Group Executive Team as of January 26, 2026. 24 UPM announces plans to end paper production at UPM Kaukas, Finland by the end of 2025. Production ends in November. 30 UPM receives a Platinum rating from EcoVadis, placing the company in the top 1% globally for its sustainability performance.

5 UPM Adhesive Materials acquires Metamark, a UK-based company, to further accelerate growth in the Graphics business. 5 UPM updates its Disclosure Policy and changes its method for issuing profit guidance and outlook. 5 UPM commences a share buy-back program for a maximum of 6 million shares, or a maximum of €160 million. 5 UPM’s Board of Directors establishes a new employee share savings arrangement targeted at employees in countries where it is legally and administratively feasible. The first plan, MyShare, for 2025–2028, is announced. 11 UPM is recognized among the top sustainability performers by CDP and S&P Global.

4 UPM and Sappi sign a non-binding letter of intent to form a graphic paper Joint Venture. 11 UPM launches UPM Circular Renewable Black ™ – the first bio based, NIR-detectable pigment for sustainable premium packaging. 16 UPM signs €1,250 million revolving credit facility agreement. 19 The production and sales of industrial sugars, the first commercial products from the UPM Leuna Biorefinery begin. 31 Strategic partnership between UPM and Versowoods is finalized.

28 UPM Biofuels celebrates ten years of operations at its Lappeenranta Biorefinery in Finland, the world’s first commercial scale facility to produce wood-based advanced biofuels.

May

5 UPM cancels the 6 million shares repurchased under its buy back program. 27 UPM announces plans to discontinue the development of its potential second biomass-to-fuels refinery in Rotterdam, the Netherlands.

August

7 UPM Adhesive Materials announces an investment in a new, state-of-the-art coating line at its factory in Johor Bahru, Malaysia.

March

September

11 UPM Communication Papers announces plans to permanently close its paper mill in Ettringen, Germany and to streamline its structure to ensure performance. Production ends in December.

29 UPM and Versowood agree on a long-term partnership concerning cost-effective wood sourcing in Finland. As part of the agreement, UPM sells its Korkeakoski sawmill in Juupajoki, Finland, to Versowood and receives a minority shareholding in the company. 23 UPM initiates a strategic review of the UPM Plywood business area to assess options for maximizing its long-term potential in an evolving market environment. 4 UPM Adhesive Materials announces plans to discontinue label materials production at its factory in Nancy, France.

27 UPM holds its Annual General Meeting.

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UPM Annual Report 2025

UPM Annual Report 2025