{"id":88523,"date":"2025-02-07T09:01:53","date_gmt":"2025-02-07T09:01:53","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/upms-results-wood-markets-remain-tight-plywood-business-under-pressure\/"},"modified":"2025-09-18T17:29:46","modified_gmt":"2025-09-18T17:29:46","slug":"upms-results-wood-markets-remain-tight-plywood-business-under-pressure","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/upms-results-wood-markets-remain-tight-plywood-business-under-pressure\/","title":{"rendered":"UPM\u2019s results: wood markets remain tight, plywood business under pressure"},"content":{"rendered":"

<\/span>Forestry giant UPM improved its results last year. Comparable operating profit rose to 1.2 billion euros, which is more than a fifth more than in the previous year. However, net sales fell by one percent to 10.3 billion euros.<\/p>\n

\u201cIn 2024, our performance improved year-on-year thanks to slightly improved delivery volumes from the new pulp mill in Uruguay and our advanced materials businesses. However, the recovery in our product markets slowed in the second half of the year,\u201d says the company\u2019s CEO Massimo Reynaudo in a statement.<\/p>\n

According to Reynaudo, the timber market in Finland was still structurally tight, which keeps timber costs high and availability limited. Last year, the company implemented a new operating model that has enabled it to run well-functioning pulp mills profitably, even though timber costs are high and pulp prices are low.<\/p>\n

Among the company's business areas, UPM Fibres' delivery volumes continued to grow in the fourth quarter, but pulp sales prices were at a low level. UPM Raflatac, UPM Specialty Papers and UPM Plywood's delivery volumes continued to recover slowly. In UPM Communication Papers, the graphic paper market normalized and deliveries decreased. In UPM Energy, electricity prices increased from previous quarters. The advanced biofuels market remained challenging, says Reynaudo.<\/p>\n

A cause for joy and pain<\/strong><\/p>\n

The bottom line net result, which takes all items into account, increased by almost 70 million euros to 463 million euros.<\/p>\n

There is cause for joy and pain in that.<\/p>\n

The result includes a change in the fair value of forest assets in Finland of EUR 105 million. Without the increase in the value of forests, the result would have decreased by EUR 35 million.<\/p>\n

When the change in value is recorded on the balance sheet, i.e. as an asset, the increase must also be recorded in the result. Taxes must be paid on the result, and high wood prices are now a pain for pulp producers.<\/p>\n

A third of UPM's turnover is pulp. Prices have not been favorable at the moment, but there is a budding rise in the air. A major competitor, the world's largest pulp producer, Brazilian Suzano, has announced price increases in both Europe and China.<\/p>\n

The bigger the better, the more UPM will follow, if that can be said of a company with a turnover of clearly over ten billion. UPM estimates that a 50 euro increase in the price of pulp per tonne will affect its operating profit by 170-270 million euros. Recent tonne prices have been around 1,500 euros for softwood pulp and around a thousand euros for hardwood pulp.<\/p>\n

Weak demand for spruce plywood weighs on UPM\u2019s 2024 results<\/strong><\/p>\n

UPM Plywood's performance in 2024 reflected mixed market conditions, with sales reaching \u20ac109 million in the fourth quarter and a total of \u20ac422 million for the year. Comparable EBITDA stood at \u20ac13 million in Q4, accounting for 11.9% of sales, while operating profit was \u20ac6 million, representing 5.0% of sales. However, comparable EBIT declined compared to both the previous quarter and the same period in 2023, mainly due to lower plywood sales prices and rising variable and fixed costs. Plywood deliveries reached 113,000 m\u00b3 in the fourth quarter, bringing the full-year total to 429,000 m\u00b3.<\/p>\n

The market environment remained challenging. Demand for spruce plywood in panel trading and veneer continued to be weak, particularly in the soft construction sector. Birch plywood demand held up better in panel trading but softened in industrial applications such as vehicle flooring. In contrast, demand for LNG-end-use birch plywood remained strong, though deliveries depended on project schedules. Additionally, the EU\u2019s anti-dumping investigation against Chinese hardwood plywood continued, adding further uncertainty to the market.<\/p>","protected":false},"excerpt":{"rendered":"

Forestry giant UPM improved its results last year. Comparable operating profit rose to 1.2 billion euros, which is more than a fifth more than in the previous year. However, net sales fell by one percent to 10.3 billion euros. \u201cIn … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":49943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716],"tags":[],"class_list":["post-88523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends"],"acf":[],"yoast_head":"\nUPM\u2019s results: wood markets remain tight, plywood business under pressure - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/upms-results-wood-markets-remain-tight-plywood-business-under-pressure\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UPM\u2019s results: wood markets remain tight, plywood business under pressure - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Forestry giant UPM improved its results last year. 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