Finnish forestry giant UPM reports 21 pct profit increase in 2024

HELSINKI, Feb. 5 (Xinhua) -- Finland-based forestry giant United Paper Mills (UPM) reported a profit of 1.2 billion euros (1.25 billion U.S. dollars) in 2024, marking a 21 percent increase from the previous year, the company said on Wednesday.

However, annual sales for 2024 declined by 1 percent to 10.4 billion euros.

Massimo Reynaudo, Chief Executive Officer (CEO) of UPM, attributed the improved performa