UPM General Brochure EN

Key performance indicators

Top performance Comparable EBIT EUR 1,292m +13% Comparable ROE 11.9% +1.0pp

Five years of cumulative cash flow — disciplined capital allocation.

5/6 business areas achieved their financial targets

Group earnings growth The aim is to grow comparable EBIT over the long term. Strong cash flow Enables focused growth investments and focused M&A, new business development and attractive dividends to UPM shareholders. Industry leading balance sheet Mitigates risks and enables UPM to develop its business portfolio, when the opportunities and timing are right. Responsibility is good business Good governance, industry leading environmental performance, responsible sourcing and a safe working environment are important sources of competitive advantage. Attractive dividend UPM aims to pay an attractive dividend, 30–40% of the company’s annual operating cash flow per share.

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