Index Board – A Real Koehler Classic

Solenis, a leading global producer of specialty chemicals, will implement an energy surcharge on all products and product lines of up to 20% on all orders shipped on or after September 1, 2022, for all customers across Europe, the Middle East, and Africa (EMEA). The continued impact of limited availability of gas from Russia has resulted in extremely high and volatile gas prices in Europe. As a result, higher costs are being experienced by our manufacturing plants in addition to price escalations in key raw materials from our suppliers.

The Finnish Paperworkers’ Union has issued a new strike announcement to UPM, declaring that their strike at UPM’s Finnish mills will be extended by two weeks until 5 February 2022, unless new agreements are reached before that. The Paperworkers’ Union’s strike at UPM Pulp, UPM Biofuels, UPM Communication Papers, UPM Specialty Papers and UPM Raflatac units in Finland started 1 January 2022. “If the members of the Paperworkers’ Union want to continue the strike, they naturally have every right to do so. UPM’s goal continues to be to start business specific negotiations with the union as soon as possible. Negotiations are the only way forward. It is important that the negotiations for new agreements begin with a forward-looking mindset and determination to find the best solution for each business and its personnel” says Jyrki Hollmén, Vice President, Labour Markets at UPM. Just before the strike started, UPM received from the Paperworkers’ Union an email proposal for a new collective labour agreement, without any prior negotiation contact. The proposal was practically the same old collective agreement, which expired at the end of 2021. UPM, however, aims to have genuine interactive negotiations on the new terms of labour.

HIGHLIGHTS • Pulp sales of 2,761 thousand tons (stable vs. 4Q22). • Paper sales³ of 386 thousand tons (14% vs. 4Q22). • Net average pulp price in export market: US$572/ton (-31% vs. 4Q22). • Average net paper price3 of R$6,732/ton (-5% vs. 4Q22). • Pulp cash cost ex-downtime of R$816/ton (-13% vs. 4Q22). • Leverage of 3.1 times in USD and 3.0 times in BRL. • Cerrado Project completes 86% of physical progress and 78% of financial progress.