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	-	1	1	1	1	100
Cash & Short-Term Investments	689	716	893	633	2,068	1,560
Cash Growth	-10.75%	-19.82%	41.07%	-69.39%	32.56%	-9.30%
Accounts Receivable	1,677	1,080	1,432	1,255	1,614	1,319
Other Receivables	40	391	416	354	626	428
Receivables	1,717	1,472	1,849	1,610	2,240	1,750
Inventory	1,929	1,886	2,104	1,948	2,289	1,594
Prepaid Expenses	-	10	11	13	17	25
Restricted Cash	-	35	110	187	500	292
Other Current Assets	80	76	67	168	117	36
Total Current Assets	4,415	4,195	5,034	4,559	7,231	5,257
Property, Plant & Equipment	9,908	9,842	10,449	10,091	6,895	8,505
Long-Term Investments	2,214	2,220	2,267	2,306	3,679	2,612
Goodwill	266	264	174	283	282	237
Other Intangible Assets	540	554	580	715	553	366
Long-Term Deferred Tax Assets	422	413	526	431	485	466
Other Long-Term Assets	47	38	50	80	3,074	225
Total Assets	17,812	17,532	19,096	18,473	22,207	17,676
Accounts Payable	1,851	1,241	1,370	1,297	1,855	1,697
Accrued Expenses	-	306	346	313	352	332
Current Portion of Long-Term Debt	130	67	51	233	474	17
Current Portion of Leases	-	89	115	94	84	69
Current Income Taxes Payable	38	25	18	28	73	32
Current Unearned Revenue	-	12	6	22	23	14
Other Current Liabilities	244	497	489	454	662	307
Total Current Liabilities	2,263	2,237	2,395	2,441	3,523	2,468
Long-Term Debt	3,629	2,954	3,030	2,444	3,893	2,062
Long-Term Leases	-	684	717	612	583	504
Pension & Post-Retirement Benefits	429	439	496	502	527	676
Long-Term Deferred Tax Liabilities	688	692	673	616	636	596
Other Long-Term Liabilities	186	192	245	327	167	263
Total Liabilities	7,195	7,198	7,556	6,942	9,329	6,569
Common Stock	890	890	890	890	890	890
Retained Earnings	6,409	6,205	6,644	6,998	7,433	6,419
Treasury Stock	-2	-2	-2	-2	-2	-2
Comprehensive Income & Other	2,974	2,908	3,607	3,275	4,181	3,539
Total Common Equity	10,271	10,001	11,139	11,161	12,502	10,846
Minority Interest	346	333	401	370	376	261
Shareholders' Equity	10,617	10,334	11,540	11,531	12,878	11,107
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)	-3,070	-3,078	-3,020	-2,750	-2,966	-1,092
Net Cash Per Share	-5.82	-5.82	-5.66	-5.16	-5.56	-2.05
Filing Date Shares Outstanding	527.32	527.32	533.32	533.32	533.32	533.32
Total Common Shares Outstanding	527.32	527.32	533.32	533.32	533.32	533.32
Working Capital	2,152	1,958	2,639	2,118	3,708	2,789
Book Value Per Share	19.48	18.97	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	17.41	19.47	19.06	21.88	19.21
Land	-	845	954	862	902	859
Buildings	-	4,152	4,699	4,766	3,707	3,452
Machinery	-	12,660	14,692	14,772	13,160	13,135
Construction In Progress	-	1,462	1,224	925	-	2,069

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