UPM-Kymmene Oyj

UPM-Kymmene is a global paper and forest products group, mainly engaged in the production of paper, with an emphasis on the manufacture and sale of printing and writing papers. Co.'s operations comprise of these segments: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia, UPM Paper ENA, UPM Plywood and Other. UPM Biocomposites, UPM Biochemicals business units and Group services are reported in Other operations. Co.'s activities are centred in European Union countries, North and South America and Asia with production plants in 13 countries.
  • TickerUPM1V
  • ISINFI0009005987
  • ExchangeNasdaq Nordic Helsinki
  • SectorForestry & Paper
  • CountryFinland

Analysts

Jimi Lehtonen

UPM (Buy, TP: EUR29.00) - Putting money to work

UPM’s overall Q2 results were solid, with headline figures meeting consensus, while the company largely reiterated its full-year outlook, prompting a relief rally in the shares. The company also announced an investment decision on its largest-ever growth project, a 2.1mt BEK pulp mill in Uruguay. We view the investment positively: it provides strong returns, shifts UPMs earnings profile to growth segments, and despite the extensive capex layout it should not affect dividend payments. We reiterate our BUY recommendation with an unchanged EUR29 target price.

Rob Hales

Morningstar | UPM Reports In-Line Results in 2Q; Shares Fairly Valued

No-moat  UPM-Kymmene  reported second-quarter EBIT of EUR 345 million, a 3% increase over the prior-year period, and in line with consensus. Further, the company maintained 2019 guidance for performance to continue at a good level. This is in stark contrast with major competitor, Stora Enso, which reported a 12% decline in second- quarter EBIT and abandoned its 2019 guidance because of the uncertain economic environment. The key difference between the two companies is UPM’s energy division, which more than doubled EBIT in the second quarter because of materially higher electricity prices. Excl...

Rob Hales

UPM Reports In-line Results in 2Q; Shares Fairly Valued

No-moat UPM-Kymmene reported second-quarter EBIT of EUR 345 million, a 3% increase over the prior-year period, and in line with consensus. Further, the company maintained 2019 guidance for performance to continue at a good level. This is in stark contrast with major competitor, Stora Enso, which reported a 12% decline in second- quarter EBIT and abandoned its 2019 guidance because of the uncertain economic environment. The key difference between the two companies is UPM’s energy division, which ...

UPM-Kymmene - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

UPM-Kymmene: Update Following an Upgrade To Baa2

CORPORATES CREDIT OPINION 10 November 2017 Update RATINGS UPM-Kymmene Domicile Finland Long Term Rating Baa2 Type LT Issuer Rating - Dom Curr Outlook Stable Please see the  ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Analyst Contacts Martin Fujerik +49.69.7073.0909

UPM-Kymmene: Uruguay pulp mill would improve diversification; Baa2 with stable outlook unaffected

CORPORATES ISSUER COMMENT 10 November 2017 Analyst Contacts Martin Fujerik +49.69.7073.0909 VP-Senior Analyst [email protected] Florian Zimmermann +49.69.7073.0971 Associate Analyst [email protected] Matthias Hellstern +49.69.7073.0745 MD-Corporate Finance [email protected] UPM-Kymmene Uruguay pulp mill would improve diversification; Baa2 with stable outlook unaffec

UPM-Kymmene - September 2017 (LTM): Peer Snapshot

Peer Snapshot: UPM-Kymmene - September 2017 (LTM) 9 November 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17

Moody's upgrades UPM-Kymmene to Baa2; stable outlook

Rating Action: Moody's upgrades UPM-Kymmene to Baa2; stable outlook. Global Credit Research- 02 Nov 2017. Frankfurt am Main, November 02, 2017-- Moody's Investors Service, has today upgraded the long term issuer rating of UPM-Kymmene to Baa2 from Baa3.

Jimi Lehtonen

UPM (Buy, TP: EUR29.00) - Putting money to work

UPM’s overall Q2 results were solid, with headline figures meeting consensus, while the company largely reiterated its full-year outlook, prompting a relief rally in the shares. The company also announced an investment decision on its largest-ever growth project, a 2.1mt BEK pulp mill in Uruguay. We view the investment positively: it provides strong returns, shifts UPMs earnings profile to growth segments, and despite the extensive capex layout it should not affect dividend payments. We reiterate our BUY recommendation with an unchanged EUR29 target price.

Rob Hales

Morningstar | UPM Reports In-Line Results in 2Q; Shares Fairly Valued

No-moat  UPM-Kymmene  reported second-quarter EBIT of EUR 345 million, a 3% increase over the prior-year period, and in line with consensus. Further, the company maintained 2019 guidance for performance to continue at a good level. This is in stark contrast with major competitor, Stora Enso, which reported a 12% decline in second- quarter EBIT and abandoned its 2019 guidance because of the uncertain economic environment. The key difference between the two companies is UPM’s energy division, which more than doubled EBIT in the second quarter because of materially higher electricity prices. Excl...

Rob Hales

UPM Reports In-line Results in 2Q; Shares Fairly Valued

No-moat UPM-Kymmene reported second-quarter EBIT of EUR 345 million, a 3% increase over the prior-year period, and in line with consensus. Further, the company maintained 2019 guidance for performance to continue at a good level. This is in stark contrast with major competitor, Stora Enso, which reported a 12% decline in second- quarter EBIT and abandoned its 2019 guidance because of the uncertain economic environment. The key difference between the two companies is UPM’s energy division, which ...

Jimi Lehtonen

UPM (Buy, TP: EUR29.00) - Estimates cut, pulp nearing a trough

We have cut our 2019–2021e EBIT by c8% ahead of the Q2 results (due at 08:30 CET on 23 July), following recent pulp price declines in China and Europe. We expect the market to turn by end-Q3, as we see Chinese port inventories being reduced following pulp supply cuts in June onwards and the supply/demand balance improving materially thereafter. We reiterate our BUY but have cut our target price to EUR29 (33) on our lowered estimates.

Henri Parkkinen

UPM-KYMMENE - Good cash position in the spring

A director sold 20,000 shares at 22.559EUR and

A director at Upm-Kymmene Oyj sold 20,000 shares at 22.559EUR and the significance rating of the trade was 73/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names o...

Håkon Astrup ...
  • Jimi Lehtonen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

With a more favourable environment, UPM-KYMMENE OYJ improves to Slightly Positive

UPM-KYMMENE OYJ (FI), a company active in the Paper industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date February 1, 2019, the closing price was EUR 25.94 and its potential was estimated at EUR 27.59.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

International Paper Company - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

International Paper Company - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Marketline's International Paper Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by International Paper Company since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of ...

MarketLine Department

International Paper Co - Strategy, SWOT and Corporate Finance Report

International Paper Co - Strategy, SWOT and Corporate Finance Report Summary International Paper Co - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights International Paper Company (International Paper) is a paper packaging solutions company. The company offers coated and uncoated paper, pulp, consumer packaging and industrial packaging for variety of products rangi...

Expert Corporate Governance Service (ECGS)

UPM Kymmene, April 04th 2019

In general, UPM Kymmene ("UPM") is in compliance with the Finnish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 14, the audit commitee proposes to re-appoint PricewaterhouseCoopers as the Company's statutory auditor. ECGS notes that the current auditor has been in office for 23 years, which exceeds its guidelines. In line with EU regulation, ECGS recommends a term of maximum 20 years (10 + 10 years, if a tender is undertaken). In view of the above, ECGS recommends to vote OPPOSE. Under ITEM 15, the board of directors seeks authority to issu...

UPM – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 05/04/2018

In general, UPM Kymmene ("UPM") is in compliance with the Finnish regulations relating the organisation and procedures of the Annual General Meeting. Under ITEM 14, the board of directors proposes to re-appoint PricewaterhouseCoopers as the Company's statutory auditor. Although the level of non-audit fees is in line with its guidelines, ECGS notes that the current auditor has been in office for 22 years, which exceeds its guidelines. ECGS therefore recommends to vote OPPOSE. There are no further peculiarities.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Not much has changed over the past week when looking at the MSCI ACWI and S&P 500, with prices generally trending sideways and no material changes in our primary breadth indicators. Therefore, our outlook remains positive given breadth and price action improvements on both the ACWI and S&P 500 relative to mid-April (both developments that we highlighted in the 5/17/18 International Compass). • Major themes: Opportunities within Health Care and Materials. Price and relative strength trends continue to improve for our international equal-weight Health Care Sector. We recommend adding exposure.....

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