UPM-Kymmene (UPM) AGM 2026 presentation summary

Geopolitical and market environment

• Geopolitical tensions, tariff uncertainty, and currency fluctuations created a volatile business environment in 2025.

• Energy market volatility and muted consumer confidence impacted market dynamics.

Business performance and demand

• Demand for decarbonization solutions, advanced materials, and renewable fuels remained resilient in 2025.

• Graphic paper demand in Europe declined by 8%, while market pulp and label materials saw modest growth.

Strategic actions and transformation

• Profitability turnaround in biofuels and restructuring in adhesive materials and communication papers improved competitiveness.

• Commercial biochemicals business launched; Metamark acquisition and investments expanded adhesive materials.

• Joint venture with Sappi planned for graphic paper business in Europe, targeting €100 million in annual synergies.

• Strategic review of plywood business underway, considering divestment, demerger, or IPO.