UPM Half-Year Financial Report 2020
H1 2020 highlights *Sales decreased by 18% to EUR 4,364 million (5,298 million in H1 2019) due to lower deliveries of graphic papers and lower pulp and paper sales prices *Comparable EBIT decreased by 33% to EUR 482 million (719 million), and was 11.0% (13.6%) of sales *UPM's transformative pulp project in Uruguay and biochemicals project in Germany are well on track with the planned start-up timeline *Operating cash flow was EUR 293 million (756 million) *Net debt decreased to EUR 301 million (366 million) *Cash funds and unused committed credit facilities totalled EUR 2.0 billion at the end of June