UPM‑Kymmene Oyj Reports Strong Second‑Quarter Performance Amid Market Volatility
UPM‑Kymmene Oyj, the Finnish forest‑products company listed on NASDAQ OMX Helsinki, announced its second‑quarter results for 2026 on 23 July 2026. The company reported a non‑GAAP earnings‑per‑share (EPS) of €0.67 and total revenue of €4.78 billion for the period. Operating results were in line with expectations, with adjusted EBITDA rising to €356 million, up 0.6 % from the previous quarter.
Financial Highlights
| Item | 2026 Q2 | 2025 Q2 | YoY Change |
|---|---|---|---|
| Sales | €2,355 million | €2,341 million | +0.6 % |
| Comparable EBIT | €212 million | €89 million | +71 % |
| Comparable EPS | €0.32 € | €0.17 € | +88 % |
| Adjusted EBITDA | €356 million | €250 million | +42 % |
| Non‑GAAP EPS | €0.67 € | – | – |
The company’s core operating unit – “continuing operations” – achieved a comparable EBIT margin of 9.0 % of sales, up from 5.3 % in the same period last year. The report highlighted that improvements were driven by stronger sales in all business segments and a progressing portfolio change.
Market Reaction
Despite the positive earnings data, UPM‑Kymmene shares fell 0.7 % on the day of the announcement. The drop was part of a broader sell‑off in the Finnish market, where several stocks, including those of Nokia and Huhtamäki, experienced negative reactions to earnings releases. Analysts noted that the decline may be linked to market expectations for a higher EPS and the company’s guidance for the full year.
Contextual Information
- Stock Price (21 July 2026): €24.10
- 52‑Week Range: €21.72 – €27.94
- Market Capitalisation: €12.67 billion
- P/E Ratio: 23.54
UPM‑Kymmene’s performance aligns with its long‑term strategy of expanding in specialty paper and forest‑products markets while maintaining operational efficiency. The company’s focus on sustainable forest management and innovation in packaging and industrial paper remains central to its growth outlook.
