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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Cash & Equivalents	689	715	892	632	2,067	1,460
Short-Term Investments	81	78	69	64	118	139
Cash & Short-Term Investments	770	793	961	696	2,185	1,599
Cash Growth	-9.20%	-17.48%	38.07%	-68.15%	36.65%	-13.85%
Accounts Receivable	1,677	1,481	1,929	1,782	2,696	2,024
Other Receivables	40	35	40	27	61	40
Total Trade Receivables	1,717	1,516	1,969	1,809	2,757	2,064
Inventory	1,929	1,886	2,104	1,948	2,289	1,594
Other Current Assets	-	-	-	106	-	-
Total Current Assets	4,415	4,194	5,034	4,454	7,230	5,257
Net Property, Plant & Equipment	7,275	7,237	7,932	7,736	7,446	6,177
Other Intangible Assets	540	554	580	715	553	366
Goodwill	266	264	174	283	282	237
Long-Term Investments	2,237	2,244	2,311	2,366	3,749	2,745
Other Long-Term Assets	3,079	3,041	3,065	2,813	2,948	2,893
Total Assets	17,812	17,532	19,096	18,473	22,207	17,676
Accounts Payable	1,851	1,839	1,938	1,883	2,720	2,254
Current Portion of Long-Term Debt	130	156	166	327	558	86
Other Current Liabilities	105	62	126	135	175	127
Total Current Liabilities	2,263	2,237	2,395	2,385	3,522	2,468
Long-Term Debt	3,629	3,638	3,747	3,056	4,476	2,566
Other Long-Term Liabilities	1,481	1,501	1,581	1,541	1,400	1,536
Total Long-Term Liabilities	4,932	4,961	5,162	4,501	5,807	4,102
Total Liabilities	7,195	7,197	7,556	6,942	9,329	6,570
Common Stock	890	890	890	890	890	890
Treasury Stock	-2	-2	-2	-2	-2	-2
Additional Paid-in Capital	1,273	1,273	1,273	1,273	1,273	1,273
Accumulated Other Comprehensive Income	1,701	1,637	2,335	2,002	2,909	2,267
Retained Earnings	6,409	6,205	6,644	6,998	7,433	6,419
Total Common Shareholders' Equity	10,271	10,001	11,139	11,161	12,502	10,846
Minority Interest	346	333	401	370	376	261
Shareholders' Equity	10,616	10,335	11,540	11,531	12,879	11,106
Total Liabilities & Equity	17,812	17,532	19,096	18,473	22,207	17,676
Total Debt	3,759	3,794	3,913	3,383	5,034	2,652
Net Cash (Debt)	-2,989	-3,001	-2,952	-2,687	-2,849	-1,053
Net Cash Per Share	-5.67	-5.68	-5.54	-5.04	-5.34	-1.97
Book Value	10,271	10,001	11,139	11,161	12,502	10,846
Book Value Per Share	19.48	18.92	20.89	20.93	23.44	20.34
Tangible Book Value	9,465	9,183	10,385	10,163	11,667	10,243
Tangible Book Value Per Share	17.95	17.37	19.47	19.06	21.88	19.21