UPM annual report 2014

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UPM Annual Report 2014 UPM Annual Report 2014 145 146
CONTENTS
Contents
UPM Group
1 UPM in brief
3 Review by the President and CEO
5 Strategy
11 UPM as an investment
13 Financial targets and earnings sensitivities
14 Risk management
Businesses
15 UPM Biorefining
19 UPM Energy
21 UPM Raflatac
23 UPM Paper Asia
25 UPM Paper ENA
27 UPM Plywood
29 Innovations and R&D
Stakeholders
31 Creating added value through stakeholder
engagement
35 UPM’s tax policy promotes compliance,
risk management, transparency and efficiency
37 Continuous collaboration with customers
39 Suppliers are an integral part of
UPM value creation
41 People enable company transformation
44 Significant change in UPM’s safety culture
Responsibility
45 Responsibility supports business development
49 Taking care of the entire lifecycle
50 Yesterday’s waste is today’s raw material
51 Energy efficiency improved and
climate actions recognised
53 UPM ensures that all wood and wood fibre
is sustainably sourced
54 Responsible use of water
55 UPM’s material balance 2014
57 GRI content index
59 Independent assurance report
Corporate governance
60 Corporate governance
65 Board of Directors
67 Group Executive Team
Accounts for 2014
69 Contents
137 Key financial information 2005–2014
139 Additional responsibility information
141 UPM businesses on a world map
144 Addresses
146 Annual General Meeting
Annual
General Meeting
UPM-Kymmene Corporation will hold its Annual General Meeting on
Thursday 9 April 2015 at 14:00, at the Exhibition and Convention
Centre, Messuaukio 1, 00520 Helsinki, Finland. Instructions for those
wishing to attend are given in the notice to the meeting, which is
available on the company’s website at
Dividend
The Board of Directors has decided to propose to the Annual General Meeting that
a dividend of EUR 0.70 per share be paid for the 2014 financial year. The dividend
will be paid to the shareholders who are registered in the company’s shareholder
register held by Euroclear Finland Ltd. on 13 April 2015, which is the record date for
the dividend payment. The Board of Directors proposes that the dividend will be
paid on 23 April 2015.
Financial information in 2015
UPM will publish the interim reports in 2015 as follows:
The Interim Report for January–March (Q1) on 28 April 2015
The Interim Report for January–June (Q2) on 28 July 2015
The Interim Report for January–September (Q3) on 27 October 2015
FI / 28 / 003
Please collect used
paper for recycling.
UPM Annual Report 2014 has been
awarded the EU Ecolabel for printed
products.
The printing process has to meet strict
criteria in relation to chemicals, energy
consumption, emissions to air and water
and waste management. Also the paper
used shall be EU Ecolabelled. UPM
promotes sustainability of print media.
UPM does not publish a separate environmental and
corporate responsibility report but has integrated
the contents into this annual report. Various highlights
from the year 2014 can be found under the sections
for each business area. The GRI content index is on
pages 57–58.
To find out more about UPM’s responsibility agenda,
please visit