PERFORMANCE AND Value creation UPM

Performance And Value Creation Upm-Free PDF

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Group financial performance,EBIT ROE Operating Net debt and. of cash flow gearing,sales EURm EURm,12 12 1 600 5 000 75. Min target 1 000,6 6 800 Gearing,1 000 Net Debt 15. comparable figures for 2015 and 2014 excluding special items for earlier years. Drivers for the improved financial performance,Business actions. Commercial strategies,Operational system efficiency.
Focused growth investments,Efficient use of assets including restructuring. Group wide initiatives implemented in businesses,Variable cost reduction measures SmartSpend. Maintenance and site management SmartMaint SmartSite. Working capital management SmartCash,Consistent improvement. Productivity Capital turnover Fixed costs Variable costs. Sales employee Sales CE Fixed cost sales Variable cost sales. 518 511 21 9,21 4 21 3 67 1,483 21 1 20 9 66 2 66 1. 480 0 96 20 8 65 4,0 90 0 90 64 1 64 1, 10 11 12 13 14 15 LTM 10 11 12 13 14 15 LTM 10 11 12 13 14 15 LTM 10 11 12 13 14 15 LTM.
Commercial strategies Capital allocation Commercial strategies Variable cost measures. Efficient use of assets Focused investments Efficient use of assets Materials efficiency. Focused investments Efficient use of assets Restructuring Energy efficiency. WOC management Maintenance Efficient use of assets. FOCUSED GROWTH,INVESTMENTS,Delivering earnings,and volume growth. Current focused growth investments targeting,to exceed EUR 200m in additional EBITDA. Fully contributing in H1 2016,Pietarsaari pulp mill expansion. Fray Bentos pulp mill expansion,Kymi pulp mill expansion. Raflatac expansion in APAC Poland,Ramp up progressing well.
Lappeenranta biorefinery,Changshu speciality papers. Under construction in schedule and budget,Otep plywood mill expansion. Kaukas pulp mill efficiency,Kymi pulp mill expansion. Focused investments are delivering growth, Sales 2015 Average delivery growth 2011 LTM Q2 2016. Pulp CAGR 2,UPM Biorefining,80 Biofuels New business.
60 UPM Raflatac Standard products CAGR 4,Films and specials CAGR 7. Label materials CAGR 4,UPM Paper Asia,Cut size CAGR 6. UPM Plywood Plywood CAGR 3,BUSINESS PERFORMANCE,Targeting top performance. Comparable EBIT by business area, EURm UPM Biorefining of sales EURm UPM Energy of sales EURm UPM Raflatac of sales. 150 25 80 60 50 10,120 20 40 8,90 15 30 6,60 10 20 4.
0 0 0 0 0 0, Q1 14 Q3 14 Q1 15 Q3 15 Q1 16 Q1 14 Q3 14 Q1 15 Q3 15 Q1 16 Q1 14 Q3 14 Q1 15 Q3 15 Q1 16. EURm UPM Paper Asia of sales EURm UPM Paper ENA of sales EURm UPM Plywood of sales. 50 12 5 75 6 25 20,40 10 20 16,30 7 5 15 12,10 2 5 5 4. 0 0 25 2 0 0, Q1 14 Q3 14 Q1 15 Q3 15 Q1 16 Q1 14 Q3 14 Q1 15 Q3 15 Q1 16 Q1 14 Q3 14 Q1 15 Q3 15 Q1 16. Business area returns and targets,UPM UPM UPM UPM UPM UPM. Energy Biorefining Paper Asia Paper ENA Plywood Raflatac. 22 22 22 22 22 22,ROCE ROCE ROCE CF CE ROCE ROCE,20 20 20 20 20 20.
18 18 18 18 18 18,16 16 16 16 16 16,14 14 14 14 14 14. 12 12 12 12 12 12,10 10 10 10 10 10,8 8 8 8 8 8,6 6 6 6 6 6. 4 4 4 4 4 4,2 2 2 2 2 2,0 0 0 0 0 0, Each business targets top relative performance in their respective markets. shareholdings in UPM Energy valued at fair value Long term return target. Robust cash flow with all businesses,generating free cash flow. Average annual operating cash flow and capex in 2013 H1 2016. Biorefining Energy Raflatac Paper Asia Paper ENA Plywood. Operating cash flow Investing activities Depreciation. DISCIPLINED,CAPITAL ALLOCATION,Disciplined capital allocation.
Focused growth projects and Attractive dividend,attractive dividends financed. from operating cash flow,Consistently strong Focused Strong cash flow. balance sheet investments,Industry leading,Top performance balance sheet. Shareholder returns, EUR Operating CF per share and payout EUR Dividend and dividend yield. 3 50 45 1 00 10,3 00 40 0 60 6,2 50 35 0 20 2,2008 2009 2010 2011 2012 2013 2014 2015.
Dividend EUR Effective dividend yield,EUR Share price and TSR. 0 50 15 10, 2008 2009 2010 2011 2012 2013 2014 2015 LTM 2013 2013 2014 2015 2016. Operating CF Payout as of Operating CF Share price Share price dividends reinvested. Continuous free cash flow generation opens,value creation options. Illustrative LTM operating cash flow EUR 1 528m Robust cash flow. Operating cash flow in 2014 LTM,EUR 1 2bn 1 5bn,Capital allocation. Ordinary dividend 30 40,1 000 of operating cash flow.
750 Low operational capex needs,Focused growth investments. 250 Additional capital generation,EUR 400 650m per annum. 7 Pulp CAGR 2 Biofuels New business Standard products CAGR 4 Films and specials CAGR 7 Label materials CAGR 4 Cut size CAGR 6 Plywood CAGR 3 Average delivery growth 2011 LTM Q2 2016 0 20 40 60 80 100 UPM Biorefining UPM Raflatac UPM Paper Asia UPM Plywood Sales 2015

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