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UPM-Kymmene

25.84

 

EUR

 

+2.13 %

UPM

NASDAQ Helsinki

Paper & Forest Products

Basic Materials

18,543 following
+2.13%
-4.47%
-15.99%
-26.72%
-24.13%
-20.44%
-22.36%
-14.75%
+220.08%
www.upm.com

UPM-Kymmene is active in the forest industry. The company currently works with the development of wood biomass and biofuel. The product portfolio is broad and includes, for example, biochemicals, printing materials, paper, and timber. The company has operations on a global level, with the largest presence around the European market. The head office is located in Helsinki.

P/E (adj.) (24e)
15.85
EV/EBIT (adj.) (24e)
14.13
P/B (24e)
1.23
Dividend yield-% (24e)
5.8 %
Target price
30.00 EUR
Recommendation
Accumulate
Updated
29.10.2024
NASDAQ Helsinki
UPM
Daily low / high price
25.29 / 25.9 EUR
Market cap
13.79B EUR
Turnover
34.53M EUR
Volume
1.3M
Business risk
Valuation risk
Current
Previous

Analyst

Antti Viljakainen
Antti Viljakainen
Head of Research

Latest videos

UPM Interim Report for January–September 2024
2024-10-29
UPM Interim Report for January - June 2024
2024-07-23
UPM Interim Report for January - March 2024
2024-04-25

Financial calendar

Annual report
2025-02-05
General meeting
2025-03-27
Interim report
2025-04-24
Interim report
2025-07-24
Interim report
2025-10-29

Income statement

20202021202220232024e2025e2026e2027e
Revenue8,580.09,814.011,720.010,460.010,319.011,027.211,435.611,655.6
growth-%-16.2 %14.4 %19.4 %-10.8 %-1.3 %6.9 %3.7 %1.9 %
EBITDA1,302.02,077.02,495.61,268.51,699.32,159.02,387.22,523.5
EBIT (adj.)948.01,471.02,095.61,013.51,170.31,485.21,708.01,844.5
EBIT761.01,562.01,973.6608.51,069.31,485.21,708.01,844.5
Profit before taxes737.01,548.01,943.5463.9971.51,408.51,641.81,795.6
Net income560.01,286.01,525.0386.9808.61,132.01,323.71,445.4
EPS (adj.)1.372.223.151.401.632.122.482.71
growth-%-34.2 %62.3 %41.9 %-55.5 %16.2 %30.2 %16.9 %9.2 %
Dividend1.301.301.501.501.501.601.701.80
Dividend ratio123.8 %53.9 %52.5 %206.8 %99.0 %75.4 %68.5 %66.4 %

Profitability and return on capital

20202021202220232024e2025e2026e2027e
EBITDA-%15.2 %21.2 %21.3 %12.1 %16.5 %19.6 %20.9 %21.7 %
EBIT-% (adj.)11.0 %15.0 %17.9 %9.7 %11.3 %13.5 %14.9 %15.8 %
EBIT-%8.9 %15.9 %16.8 %5.8 %10.4 %13.5 %14.9 %15.8 %
ROE5.8 %12.7 %13.1 %3.3 %7.2 %10.0 %11.3 %11.8 %
ROI6.6 %12.4 %12.5 %3.7 %7.2 %10.0 %11.7 %12.8 %

Valuation

20202021202220232024e2025e2026e2027e
Share price (EUR)30.4733.4635.3334.0625.8425.8425.8425.84
Shares533.5533.5533.5533.5533.5533.5533.5533.5
Market cap16,255.917,851.118,848.718,171.213,785.813,785.813,785.813,785.8
Enterprise value16,577.919,042.121,815.720,922.816,540.815,937.615,167.914,525.4
EV/S1.91.91.92.01.61.41.31.2
EV/EBITDA12.79.28.716.59.77.46.45.8
EV/EBIT (adj.)17.512.910.420.614.110.78.97.9
EV/EBIT21.812.211.134.415.510.78.97.9
P/E (adj.)22.315.111.224.315.912.210.49.5
P/E29.013.912.446.817.012.210.49.5
P/B1.71.61.51.61.21.21.21.1
P/S1.91.81.61.71.31.31.21.2
Dividend yield4.3 %3.9 %4.3 %4.4 %5.8 %6.2 %6.6 %7.0 %
Equity ratio64.0 %62.8 %58.0 %62.4 %61.9 %63.9 %67.0 %70.1 %
Gearing ratio3.4 %10.7 %23.0 %23.9 %23.9 %18.1 %11.2 %5.7 %

Quarter data

Q4/232023Q1/24Q2/24Q3/24Q4/24e2024eQ1/25eQ2/25e
Revenue2,530.810,460.02,639.62,546.42,521.02,612.010,319.0
EBITDA363.51,268.5501.4244.0434.6519.31,699.3
EBIT210.5608.5354.450.0300.6364.31,069.3
Profit before taxes180.1463.9331.828.1271.3340.3971.5
Net income158.1386.9271.826.1237.3273.4808.6
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