Lecta to Increase the Prices of Label Papers by 7%

UPM's goal is to develop, encourage and reward every employee in their work. UPM paid a total of EUR 51 million as short-term incentives to employees in 2020. The incentives were paid for the good 2019 results and for personal success in one's own work. The figures are outlined in the Annual Report that was published today. Over the last five years, UPM has paid nearly EUR 300 million in incentives to its employees. The incentives are mainly determined by the financial indicators, of which EBITDA is the most important. In addition, every employee can earn one-third of the incentive by the achievement of personal and/or team performance targets. Last year, UPM employees earned on average of 5.6%, or approximately EUR 3,200, additional income from the company's incentive schemes.

The Green Valley Energie (GVE) joint venture, in which Norske Skog is a 10% minority equity holder, is ready to commence construction of a biomass boiler at the mill site of Norske Skog Golbey, France, following recent completion of debt financing. GVE is a biomass energy plant, which will produce electricity and heat from waste and residue materials. Electricity sale from GVE is ensured through a feed-in tariff contract, while steam will be used for Norske Skog's Golbey mill. "This energy project is one more milestone in the on-going transition of Norske Skog towards new growth markets and sustainable energy. The biomass boiler will ensure a stable, long-term supply of cost-competitive and 100 percent renewable steam as an alternative to fossil energy sources like natural gas, shielding us from increasingly volatile energy markets," says Sven Ombudstvedt, CEO of Norske Skog.

Total European shipments of graphic papers in August 2021 were UP 16.3% vs. August 2020 and are UP 5.0% year-to-date. Total European shipments of newsprint in August 2021 were UP 6.2% vs. August 2020 and are down 3.6% year-to-date. Total European shipments of sc-magazine in August 2021 were UP 7.7% vs. August 2020 and are UP 3.1% year-to-date. Total European shipments of coated mechanical reels in August 2021 were UP 20.8% vs. August 2020 and are UP 3.7% year-to-date. Total European shipments of uncoated mechanical (improved & others) in August 2021 were UP 8.6% vs. August 2020 and are UP 5.8% year-to-date. Total European shipments of coated woodfree in August 2021 were UP 31.9% vs. August 2020 and are UP 10.3% year-to-date. Total European shipments of uncoated woodfree in August 2021 were UP 20.2% vs. August 2020 and are UP 11.2% year-to-date.