UPM Plywood division reported 39% increase in EBITDA for the second quarter of 2016, as compared to the same period of last year. EBITDA for Q2/2016 was €25million, against €18 million in Q2/2015. UPM's Plywood EBIT increased due to higher delivery volumes.
The EBIT increased compared to Q1/2016 too, by 25%, mainly due to o higher delivery volumes and lower costs, more than offsetting the negative impact of lower sales prices.
UPM Plywood's adjusted operating profit also increased by €6 million from the same quarter last year, up to €19 million. Sales reached €119 million in Q2/2016 (Q2/2015: €113 million). Plywood deliveries were 206,000 cubic metres (Q2, 2015: 193,000 m3).
In the quarter, UPM's Otepää mill expansion proceeded according to schedule, while the company had a total strong performance and the Pellos mills exceeded 10 million cubic meters in all-time total production.
UPM Plywood offers plywood and veneer products, mainly for construction, vehicle flooring and LNG shipbuilding, as well as other manufacturing industries. Production facilities are located in Finland, Estonia and Russia.
For the overall results of the Group here.
