UPM’s results: wood markets remain tight, plywood business under pressure

Forestry giant UPM improved its results last year. Comparable operating profit rose to 1.2 billion euros, which is more than a fifth more than in the previous year. However, net sales fell by one percent to 10.3 billion euros. “In 2024, our performance improved year-on-year thanks to slightly improved delivery volumes from the new pulp mill in Uruguay and our advanced materials businesses. However, the recovery in our product markets slowed in the second half of the year,” says the company’s CEO Massimo Reynaudo in a statement. According to Reynaudo, the timber market ...