Twin Rivers Announces Price Increase on Publishing Papers

Highlights * Q1, 2018 adjusted operating income of $238.7 million driven by historically high lumber prices and record-high pulp and paper earnings; record-high sales of $1.23 billion * Adjusted net income of $145.4 million, or $1.13 per share * Net debt of $96.8 million, or 4.3% net debt to total capitalization, at March 31, 2018. Click Read More below for additional information.

Highlights: *Operating profit for January-September was SEK 1 884 million (January-September 2019: 1 758). Profit was impacted positively by higher profit from Paperboard and Forest, but negatively by price decreases and production curtailments in Paper. *Compared with the second quarter, operating profit increased by SEK 172 million to SEK 714 million as a result of increased prices for wood products, decreased production curtailments in Paper and seasonally lower costs. *Profit after tax for January-September amounted to SEK 1 467 million (1 363), which corresponds to earnings per share of SEK 9.1 (8.1). *On 1 October Holmen completed the acquisition of Martinsons, one of Sweden's leading players in sawn and processed wood products.

The Board of the Paper Workers’ Union has confirmed the negotiated results of the collective labour agreements for the Finnish mills and biorefinery of UPM Pulp, UPM Communication Papers, UPM Specialty Papers, UPM Raflatac and UPM Biofuels. An agreement was reached earlier today in the last open negotiations at UPM Specialty Papers. The new collective labour agreements will have a two-year contract period and will enter into force immediately. The agreed wage increases in the collective agreements will take effect from 1 July 2024. "We are pleased that, after long and thorough negotiations, we have reached five agreements where we have jointly developed the content of the agreements to meet the needs of each business," says Riitta Savonlahti, Executive Vice President, HR at UPM.