UPM-Kymmene Oyj Balance Sheet

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	577	892	632	2,067	1,460	1,720
Short-Term Investments	-	1	1	1	100	-
Cash & Short-Term Investments	577	893	633	2,068	1,560	1,720
Cash Growth	-37.08%	41.07%	-69.39%	32.56%	-9.30%	11.98%
Accounts Receivable	1,693	1,432	1,255	1,614	1,319	1,097
Other Receivables	64	416	354	626	428	414
Receivables	1,757	1,849	1,610	2,240	1,750	1,519
Inventory	1,995	2,104	1,948	2,289	1,594	1,285
Prepaid Expenses	-	11	13	17	25	57
Restricted Cash	-	110	187	500	292	-
Other Current Assets	92	67	168	117	36	128
Total Current Assets	4,421	5,034	4,559	7,231	5,257	4,709
Property, Plant & Equipment	9,717	10,449	10,091	6,895	8,505	6,954
Long-Term Investments	2,511	2,267	2,306	3,679	2,612	1,969
Goodwill	265	174	283	282	237	229
Other Intangible Assets	561	580	715	553	366	363
Long-Term Deferred Tax Assets	524	526	431	485	466	421
Other Long-Term Assets	46	50	80	3,074	225	205
Total Assets	18,045	19,096	18,473	22,207	17,676	14,858
Accounts Payable	2,141	1,370	1,297	1,855	1,697	1,128
Accrued Expenses	-	346	313	352	332	289
Current Portion of Long-Term Debt	268	51	233	474	17	15
Current Portion of Leases	-	115	94	84	69	75
Current Income Taxes Payable	38	18	28	73	32	30
Current Unearned Revenue	-	6	22	23	14	8
Other Current Liabilities	273	489	454	662	307	195
Total Current Liabilities	2,720	2,395	2,441	3,523	2,468	1,740
Long-Term Debt	3,634	3,030	2,444	3,893	2,062	1,483
Long-Term Leases	-	717	612	583	504	469
Pension & Post-Retirement Benefits	456	496	502	527	676	771
Long-Term Deferred Tax Liabilities	671	673	616	636	596	564
Other Long-Term Liabilities	175	245	327	167	263	318
Total Liabilities	7,656	7,556	6,942	9,329	6,569	5,345
Common Stock	890	890	890	890	890	890
Retained Earnings	5,944	6,644	6,998	7,433	6,419	5,735
Treasury Stock	-2	-2	-2	-2	-2	-2
Comprehensive Income & Other	3,225	3,607	3,275	4,181	3,539	2,728
Total Common Equity	10,057	11,139	11,161	12,502	10,846	9,351
Minority Interest	332	401	370	376	261	162
Shareholders' Equity	10,389	11,540	11,531	12,878	11,107	9,513
Total Liabilities & Equity	18,045	19,096	18,473	22,207	17,676	14,858
Total Debt	3,902	3,913	3,383	5,034	2,652	2,042
Net Cash (Debt)	-3,325	-3,020	-2,750	-2,966	-1,092	-322
Net Cash Per Share	-6.27	-5.66	-5.16	-5.56	-2.05	-0.60
Filing Date Shares Outstanding	527.32	533.32	533.32	533.32	533.32	533.32
Total Common Shares Outstanding	527.32	533.32	533.32	533.32	533.32	533.32
Working Capital	1,701	2,639	2,118	3,708	2,789	2,969
Book Value Per Share	19.07	20.89	20.93	23.44	20.34	17.53
Tangible Book Value	9,231	10,385	10,163	11,667	10,243	8,759
Tangible Book Value Per Share	17.51	19.47	19.06	21.88	19.21	16.42
Land	-	954	862	902	859	797
Buildings	-	4,699	4,766	3,707	3,452	3,423
Machinery	-	14,692	14,772	13,160	13,135	13,182
Construction In Progress	-	1,224	925	-	2,069	724

Source: S&P Global Market Intelligence. Standard template. Financial Sources.