UPM-Kymmene Oyj (OTCPK:UPMMY)
$ 27.67 -0.58 (-2.05%) Market Cap: 15.07 Bil Enterprise Value: 18.54 Bil PE Ratio: 19.85 PB Ratio: 1.32 GF Score: 69/100
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Q1 2020 UPM-Kymmene Oyj Earnings Call Transcript

Apr 23, 2020 / 10:15AM GMT
Release Date Price: $26.09 (-0.19%)
Jussi Pesonen
UPM-Kymmene Oyj - President, CEO & Head of UPM Biorefining

Ladies and gentlemen, welcome to UPM's Quarter 1 2020 Result Webcast. My name is Jussi Pesonen, I'm the CEO of UPM, and I'm here with our CFO, Tapio Korpeinen.

Tapio Juhani Korpeinen
UPM-Kymmene Oyj - CFO & Executive VP of UPM Energy

Hello to everyone.

Jussi Pesonen
UPM-Kymmene Oyj - President, CEO & Head of UPM Biorefining

First of all, UPM made a solid results during the quarter. In January, we made an investment decision for the first-of-its-kind biochemicals refinery in Germany. This investment opens totally a new and exciting market for UPM's future growth and value creation.

In January and February, we were affected by the strikes in Finland. Our Finnish pulp and paper mills were down for 2 weeks, and our Finnish plywood mills and sawn timber mills were down for 4 weeks. The big news during the quarter was, obviously, the COVID-19 outbreak, which was already an epidemic in China starting in January and then

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