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UPM
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Helsinki, Finland, 27 January 2009 – UPM's operating profit excluding special items for the fourth quarter of 2008 is EUR 46 million negative. That includes a write-down of wood inventory. Operating profit excluding special items for the year 2008 is EUR 513 million versus EUR 835 million in 2007.

In December 2008, UPM estimated its deliveries to decrease in all of its businesses more than anticipated. In addition to low delivery volumes the company cut production to lower inventories. Cost efficiency of production decreased during the last quarter.

UPM will publish its Financial Review for the year 2008 on 05 February 2009.
 


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