UPM has released its preliminary Q3 2024 results and adjusted its outlook for the year.
The data highlights that UPM’s strategic shift to Market Pulp (UPM Fibres) has proven to be a wise decision. UPM Fibres sales were 20% higher than those of Communication Papers (Printing & Writing), and the EBIT was an impressive 140% greater.
The “Other operations” segment, which includes Biochemicals, Biomedicals, Biofuels (advanced renewable), Forest, R&D, and new business development, showed significant volatility. A sales reduction of EUR 144 million from 2023 to 2024 resulted in a negative EBIT of EUR 114 million.
Starting new ventures is challenging, even for industry giants like UPM.