UPM's plywood sales grew by 8% in 2021

Posted on February 21, 2022   |  

• The sales of plywood by the Finnish forestry group UPM-Kymmene increased by 8% year-on-year to 738,000 m³ which compensated for the losses associated with the coronavirus pandemic recorded in 2020.
• UPM's turnover increased by 21% year-on-year to €492 million due to strong demand which allowed UPM Plywood to raise prices in 2021.
• The plywood business reached a new all-time high in 2021, in part due to an increase in variable costs compared to the previous year, The EBITDA of UPM's plywood business grew by more than two-thirds to €99 million, EBIT more than doubled to €72 million. 
• Biorefining, which combines the group's pulp, lumber, and biofuel operations also benefited from higher prices in 2021 which increased the turnover of the business by 35% to 2.945 billion euros.