UPM Releases Comprehensive 2024 Annual Report with Governance Insights and Performance Highlights

UPM Publishes Annual Report 2024

On March 5, 2025, UPM-Kymmene Corporation unveiled its Annual Report for 2024, now accessible for download on both the company's English and Finnish websites (www.upm.com and www.upm.fi). This comprehensive document encapsulates significant aspects, including UPM’s Financial Statements and the Board of Directors' Report, covering the period from January 1 to December 31, 2024.

One significant feature of this year’s report is compliance with the European Single Electronic Format (ESEF) regulations, which indicates a modernization of financial reporting practices. The audit of the financial statements performed by Ernst & Young Oy bolsters the credibility of this publication, assuring stakeholders of its adherence to required international standards.

Sustainability Insights and Growth Strategies
A notable inclusion in the report is UPM’s Sustainability Statement. This document reflects the company’s commitment to social responsibility amid the growing emphasis on environmental, social, and governance (ESG) criteria by investors and consumers alike. UPM's sustainability approach has been aligned with new EU directives, specifically the Corporate Sustainability Reporting Directive (CSRD), ensuring that the report not only meets regulatory demands but highlights the company’s dedication to sustainable practices. The GRI standards also informed UPM's sustainability disclosures, showcasing transparency and accountability in its environmental initiatives.

The report demonstrates UPM's progress and future endeavors aimed at achieving profitable growth. A focal point has been UPM's new pulp mill located in Uruguay, which has contributed positively to the company’s performance metrics. Enhanced volumes in their advanced materials sector further highlight the company’s strategic positioning in the market.

Corporate Governance and Remuneration
Also critical to the Annual Report is the Corporate Governance Statement and the accompanying Remuneration Report, which outline the financial recompense for directors and the President & CEO for the financial year 2024. Set to be presented at the upcoming Annual General Meeting on March 27, 2025, this report provides an essential look at executive compensation and governance practices that impact shareholder interests. Stakeholders can access these documents via the Governance section on UPM's corporate website.

Looking Ahead
UPM is on a path of robust growth potential, with its diverse business portfolio encompassing renewable fibers, advanced materials, and decarbonization solutions. These areas not only enhance UPM’s market proposition but also align with global trends toward sustainability. The comprehensive nature of this annual report serves as a blueprint for UPM’s strategic direction, emphasizing innovation combined with a commitment to societal and environmental improvements.

In conclusion, UPM’s Annual Report 2024 reinforces the company’s pledge towards sustaining its performance while adhering to crucial governance and sustainability standards. The detailed insights offered within this report will be pivotal for investors, analysts, and stakeholders as they assess UPM's trajectory in a rapidly evolving global marketplace.

For further details, you can visit UPM’s official site.

Attachments:
1. Annual Report 2024 PDF
2. Governance Statement 2024
3. Remuneration Report 2024
4. Financial Statements in xHTML Format
5. iXBRL Viewer EN