UPM Annual Report 2016

104-105 / 176

ACCOUNTS
UPM Annual Report 2016 UPM Annual Report 2016 104 105
In brief Strategy Businesses Stakeholders Governance Accounts
CONTENTS
EURm NOTE 2016 2015
Profit for the period 880 916
Other comprehensive income for the period, net of tax
Items that will not be reclassified to the income statement:
Actuarial gains and losses on defined benefit plans –97 113
Items that may be reclassified to the income statement:
Translation differences –14 221
Net investment hedge –1 –28
Cash flow hedges 73 24
Gains and losses on energy shareholdings –144 –405
–87 –188
Other comprehensive income for the period, net of tax 7.2 –184 –75
Total comprehensive income for the period 696 841
Attributable to:
Owners of the parent company 695 841
Non-controlling interests 1 –
696 841
EURm NOTE 2016 2015
Sales 2.1, 2.2 9,812 10,138
Other operating income 2.3 140 13
Costs and expenses 2.3 –8,365 –8,840
Change in fair value of forest assets and wood harvested 4.2 88 352
Share of results of associates and joint ventures 5 3
Depreciation, amortisation and impairment charges 2.3, 4.1, 4.4 –545 –524
Operating profit 1,135 1,142
Gains on sale of energy shareholdings, net 4.3 1 –
Exchange rate and fair value gains and losses 5.4 –7 1
Interest and other finance costs 5.4 –49 –68
Profit before tax 1,080 1,075
Income taxes 7.1 –200 –159
Profit for the period 880 916
Attributable to:
Owners of the parent company 879 916
Non-controlling interests 1 –
880 916
Earnings per share for profit attributable to owners of the parent company
Basic earnings per share, EUR 2.4 1.65 1.72
Diluted earnings per share, EUR 2.4 1.65 1.72
EURm NOTE 2016 2015
ASSETS
Goodwill 4.4 245 241
Other intangible assets 4.4 301 329
Property, plant and equipment 4.1 4,657 4,895
Forest assets 4.2 1,734 1,738
Energy shareholdings 4.3 1,932 2,085
Other non-current financial assets 5.3 255 332
Deferred tax assets 7.2 446 466
Net retirement benefit assets 3.4 71 93
Investments in associates and joint ventures 29 28
Other non-current assets 47 52
Non-current assets 9,715 10,259
Inventories 4.6 1,346 1,376
Trade and other receivables 4.6, 5.3 1,726 1,743
Other current financial assets 5.3 109 133
Income tax receivables 14 56
Cash and cash equivalents 5.1 992 626
Current assets 4,187 3,934
Assets classified as held for sale 8 –
Assets 13,911 14,193
EURm NOTE 2016 2015
EQUITY AND LIABILITIES
Share capital 5.5 890 890
Treasury shares –2 –2
Translation reserve 433 449
Other reserves 5.5 1,416 1,486
Reserve for invested non-restricted equity 5.5 1,273 1,273
Retained earnings 4,225 3,846
Equity attributable to owners of the parent company 8,234 7,942
Non-controlling interests 3 2
Equity 8,237 7,944
Deferred tax liabilities 7.2 457 456
Net retirement benefit liabilities 3.4 817 747
Provisions 4.5 145 154
Non-current debt 5.2, 5.3 1,835 2,797
Other non-current financial liabilities 5.3 110 174
Non-current liabilities 3,364 4,328
Current debt 5.2, 5.3 584 269
Trade and other payables 4.6, 5.3 1,594 1,463
Other current financial liabilities 5.3 116 156
Income tax payables 16 33
Current liabilities 2,309 1,921
Liabilities 5,673 6,249
Equity and liabilities 13,911 14,193 The notes are integral part of these consolidated financial statements
The notes are integral part of these consolidated financial statements
Consolidated financial statements, IFRS
Consolidated income statement
Consolidated statement of comprehensive income
Consolidated balance sheet