UPM financial statements release 2023: UPM’s earnings recovery continued in Q4
Q4 2023 highlights: *Sales decreased by 22% to EUR 2,531 million (3,231 million in Q4 2022) *Comparable EBIT decreased by 51% to EUR 323 million, 12.8% of sales (653 million, 20.2%) *Operating cash flow was EUR 456 million (1,576 million), supported by cash inflow from working capital. 2023 highlights: *Sales decreased by 11% to EUR 10,460 million (11,720 million in 2022) *Comparable EBIT decreased by 52% to EUR 1,013 million (2,096 million), and was 9.7% (17.9%) of sales *Operating cash flow was record strong at EUR 2,269 million (508 million), supported by cash inflow from energy hedges