UPM-Kymmene Oyj Income Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	9,656	10,339	10,460	11,720	9,814
Revenue Growth (YoY)	-6.61%	-1.16%	-10.75%	19.42%	14.38%
Cost of Revenue	8,630	8,785	9,293	9,441	8,079
Gross Profit	1,026	1,554	1,167	2,279	1,735
Selling, General & Admin	-	21	23	29	25
Other Operating Expenses	-174	-108	-255	-241	-112
Operating Expenses	332	503	194	230	377
Operating Income	694	1,051	973	2,049	1,358
Interest Expense	-102	-111	-87	-63	-47
Interest & Investment Income	-	33	37	35	32
Earnings From Equity Investments	-	1	-1	4	2
Currency Exchange Gain (Loss)	43	-16	-109	-22	-8
Other Non Operating Income (Expenses)	-	-18	-19	-27	4
EBT Excluding Unusual Items	635	940	794	1,976	1,341
Merger & Restructuring Charges	-88	-26	-114	-	-49
Gain (Loss) on Sale of Investments	-	-2	-	-	133
Gain (Loss) on Sale of Assets	-	31	8	37	14
Asset Writedown	144	-443	-223	-68	109
Pretax Income	691	500	465	1,945	1,548
Income Tax Expense	200	37	71	388	240
Earnings From Continuing Operations	491	463	394	1,557	1,308
Minority Interest in Earnings	-11	-27	-6	-31	-22
Net Income	480	436	388	1,526	1,286
Net Income to Common	480	436	388	1,526	1,286
Net Income Growth	10.09%	12.37%	-74.57%	18.66%	129.64%
Shares Outstanding (Basic)	529	533	533	533	533
Shares Outstanding (Diluted)	529	533	533	533	533
Shares Change (YoY)	-0.89%	-	-	-	-
EPS (Basic)	0.91	0.82	0.73	2.86	2.41
EPS (Diluted)	0.91	0.82	0.73	2.86	2.41
EPS Growth	11.09%	12.37%	-74.56%	18.67%	129.52%
Free Cash Flow	977	756	1,189	-969	-271
Free Cash Flow Per Share	1.85	1.42	2.23	-1.82	-0.51
Dividend Per Share	1.500	1.500	1.500	1.500	1.300
Dividend Growth	-	-	-	15.38%	-
Gross Margin	10.63%	15.03%	11.16%	19.45%	17.68%
Operating Margin	7.19%	10.17%	9.30%	17.48%	13.84%
Profit Margin	4.97%	4.22%	3.71%	13.02%	13.10%
Free Cash Flow Margin	10.12%	7.31%	11.37%	-8.27%	-2.76%
EBITDA	1,139	2,074	1,421	2,424	1,729
EBITDA Margin	11.80%	20.06%	13.58%	20.68%	17.62%
D&A For EBITDA	445	1,023	448	375	371
EBIT	694	1,051	973	2,049	1,358
EBIT Margin	7.19%	10.17%	9.30%	17.48%	13.84%
Effective Tax Rate	28.94%	7.40%	15.27%	19.95%	15.50%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.