UPM Q3 EBIT drops 8% to €131M, operating cash flow hits €420M
HELSINKI – October 29, 2026 -- UPM-Kymmene reported a third-quarter comparable EBIT of €131 million from continuing operations, down 8% from €142 million a year earlier. Operating cash flow nearly doubled to €420 million from €218 million, driven by working capital measures.
Sales slipped to €2,202 million from €2,226 million, and the comparable EBIT margin fell to 5.9% from 6.4%. Lower deliveries during customer destocking and higher variable costs weighed on results. Pricing actions offset part of the impact. CEO Massimo Reynaudo called it "a softer quarter following a strong first half."