High wood costs and geopolitical pressures hit Finnish forest industry earnings
Major Finnish forest industry companies reported weaker second-quarter profits this week, as the sector remains under pressure from geopolitical tensions, market volatility, and ongoing uncertainty around trade tariffs. A weaker U.S. dollar has further weighed on international operations. UPM Corporation reported on Thursday that second-quarter sales fell to 2.4 billion euros ($2.83 billion), down from both the previous quarter and the same period last year. Comparable operating profit declined 31% year-on-year to 126 million euros. The company also announced plans to close a paper mill in eastern Finland. Stora Enso posted ...
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