UPM-Kymmene Corporation by zkd14107

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									                                  UPM-Kymmene Corporation




                                                     SPPR
                                                   ||
                                        Quarterly Financial Database

UPM-Kymmene Corporation
    Sheet 1: Financial Highlights
    Sheet 2: Financial Statements                           Last updated on:   31. October 2006

    Sheet 3: Segments                                                With:     Quarterly Report

    Sheet 4: Production / Shipments                         Period Ending:     30. September 2006

    Sheet 5: Key Ratios
    Sheet 6: Common Share
    Sheet 7: Other Figures
    Sheet 8: Company Information
    Sheet 9: Chartwatch
    Sheet 10: Publication Paper
    Sheet 11: Fine Paper
    Sheet 12: Market Pulp
    Sheet 13: Lumber and Forest Products




                                                                                         SPPR Quarterly Financial Database
UPM-Kymmene Corporation




                          SPPR Quarterly Financial Database
                                                           Financial Highlights



 UPM-Kymmene Corporation
                                                Q2-05             Q3-05      Q4-05      2005-Total             Q1-06             Q2-06       Q3-06
(EUR, million)
Sales                                           2253.0             2243.0    2574.0             9348.0          2460.0           2484.0       2495.0
Operating Income (EBIT)                           11.0              157.0     186.0              527.0           185.0             79.0        209.0
Income before Extra. Items                       -50.0              141.0     166.0              506.0           151.0             32.0        165.0
Net Income after Tax                              22.0              111.0     -77.0              261.0            99.0           -103.0        147.0
Net Income per Share                                0.05             0.21      -0.15              0.50            0.19            -0.20         0.29

EBITDA / Sales (%)                              10.7%              17.4%     24.4%              17.7%           16.6%            17.5%        22.0%
Operating Income (EBIT) / Sales (%)              0.5%               7.0%      7.2%               5.6%            7.5%             3.2%         8.4%
Earnings before Extra. Items / Sales (%)        -2.2%               6.3%      6.4%               5.4%            6.1%             1.3%         6.6%

Total Assets                                   15531.0            15636.0   15541.0            15541.0         15837.0          14857.0      14614.0
Shareholders' Equity                            7303.0             7415.0    7348.0             7348.0          7072.0           6974.0       7122.0
Capital Expenditures                             149.0              194.0     220.0              705.0           151.0            150.0        169.0

Segment Sales
Paper Industry                                  1506.0             1599.0    1945.0             6636.0          1756.0           1795.0       1847.0
Converting Industry                              345.0              345.0     296.0             1347.0           323.0            316.0        312.0

Wood Products Industry                           341.0              301.0     332.0             1286.0           346.0            378.0        310.0
Other Operations                                 136.0              111.0     133.0              517.0           140.0            126.0        143.0
Intersegment                                     -75.0             -113.0    -132.0             -438.0          -105.0           -131.0       -117.0
Segment Operating Income
Paper Industry                                    -54.0             116.0     123.0              273.0            68.0            110.0        166.0
Converting Industry                                 6.0              11.0       7.0               44.0            19.0             17.0         12.0

Wood Products Industry                              13.0             -3.0       9.0               33.0            14.0             22.0         11.0
Other Operations                                    46.0             33.0      47.0              177.0            58.0            -78.0          2.0




                                                                                                                      NA Index
                        Operating Earnings % of Sales
                                                                                                                      European Index
                              Q1-94 to Q3-2006
                                                                                                                      UPM-Kymmene
 35%
 30%
 25%
 20%
 15%
 10%
  5%
  0%
         Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3

            1994        1995     1996        1997          1998      1999   2000        2001       2002        2003      2004        2005    2006



                      Segment Sales Q3-2006                                            Segment Operating Income Q3-2006
                                                                                                                   Wood
                            Wood                                                                                  Products
                                                   Other                                          Converting
                           Products                                                                               Industry        Other
                                                 Operations                                        Industry
         Converting        Industry                                                                                 6%          Operations
                                                    5%                                               6%
          Industry           12%                                                                                                   1%
            12%




                                            Paper
                                                                                                           Paper
                                           Industry
                                                                                                          Industry
                                             71%
                                                                                                            87%




                                                                                                                             SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91                   Q2-91                              Q3-91       Q4-91      1991 Total    Q1-92*

                                                   Q1-91       Q2-91      Q3-91      Q4-91        1991 Total
(EUR, million)

Income Statement
Sales                                                                                                    5781.9
Cost of Sales                                                                                            5183.0
EBITDA                                                                                                    598.9



Depreciation & Amortization                                                                               436.3
Operating Income (EBIT)                                                                                   162.7
Financial Net                                                                                             456.0
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                                                                               -293.3
Extraordinary Items + Other Income / Expense                                                              -79.5
Income before Tax                                                                                        -372.8
Tax                                                                                                        46.9
Net Income after Tax                                                                                     -419.7
Minority Share                                                                                             -4.0
Net Income Available for Common Shareholders                                                             -415.7


Net Income per Share                                                                                      -2.13
Dividends Paid per Share                                                                                   0.11
Weighted Average Number of Shares                                                                         249.4

Balance Sheet
Current Assets                                                                                   3506.576075
Fixed Assets                                                                                      6954.22898
Other Assets
Total Assets                                                                                     10460.80506


Current Liabilities                                                                              2947.777228
Long-term Debt                                                                                   4546.472885
Deferred Income Taxes
Total Liabilities                                                                                8853.529926
Shareholders' Equity                                                                             1607.275129

Cash Flow
Cash Flow from Operations
Dividends Paid
Capital Expenditures
Environmental Expenditures
Acquisition of New Businesses
Depreciation                                                                                     436.2580797
Amortization




                                                                                     SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91                   Q2-92                              Q3-92*      Q4-92*      1992 Total    Q1-93

                                                  Q1-92*       Q2-92      Q3-92*      Q4-92*       1992 Total
(EUR, million)

Income Statement
Sales                                                                                                    6047.6
Cost of Sales                                                                                            5224.3
EBITDA                                                                                                    823.3



Depreciation & Amortization                                                                               478.7
Operating Income (EBIT)                                                                                   344.6
Financial Net                                                                                             547.8
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                                                                               -203.2
Extraordinary Items + Other Income / Expense                                                               -92.6
Income before Tax                                                                                        -295.7
Tax                                                                                                        32.9
Net Income after Tax                                                                                     -328.6
Minority Share                                                                                              -4.4
Net Income Available for Common Shareholders                                                             -324.2


Net Income per Share                                                                                       -1.63
Dividends Paid per Share                                                                                   0.06
Weighted Average Number of Shares                                                                         249.6

Balance Sheet
Current Assets                                                                                    3307.953194
Fixed Assets                                                                                      7540.870643
Other Assets
Total Assets                                                                                      10848.82384


Current Liabilities                                                                               3271.530905
Long-term Debt                                                                                    4801.105152
Deferred Income Taxes
Total Liabilities                                                                                 9221.314103
Shareholders' Equity                                                                              1627.509734

Cash Flow
Cash Flow from Operations
Dividends Paid
Capital Expenditures
Environmental Expenditures
Acquisition of New Businesses
Depreciation                                                                                      478.6698113
Amortization




                                                                                      SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91                   Q2-93                              Q3-93       Q4-93      1993 Total    Q1-94

                                                   Q1-93       Q2-93      Q3-93      Q4-93        1993 Total
(EUR, million)

Income Statement
Sales                                                                                                   7116.6
Cost of Sales                                                                                           5944.3
EBITDA                                                                                                  1172.3



Depreciation & Amortization                                                                              513.0
Operating Income (EBIT)                                                                                  657.1
Financial Net                                                                                            568.7
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                                                                                88.4
Extraordinary Items + Other Income / Expense                                                            -101.5
Income before Tax                                                                                         -13.1
Tax                                                                                                       33.5
Net Income after Tax                                                                                      -46.6
Minority Share                                                                                             -1.8
Net Income Available for Common Shareholders                                                              -44.8


Net Income per Share                                                                                      -0.19
Dividends Paid per Share                                                                                  0.14
Weighted Average Number of Shares                                                                        254.5

Balance Sheet
Current Assets                                                                                   3010.099811
Fixed Assets                                                                                     7593.318739
Other Assets
Total Assets                                                                                     10603.41855


Current Liabilities                                                                              3157.893365
Long-term Debt                                                                                    4484.79781
Deferred Income Taxes
Total Liabilities                                                                                8639.690623
Shareholders' Equity                                                                             1963.727927

Cash Flow
Cash Flow from Operations
Dividends Paid
Capital Expenditures
Environmental Expenditures
Acquisition of New Businesses
Depreciation                                                                                     512.9877011
Amortization




                                                                                     SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91                   Q2-94                              Q3-94       Q4-94      1994 Total    Q1-95

                                                   Q1-94       Q2-94      Q3-94      Q4-94        1994 Total
(EUR, million)

Income Statement
Sales                                                                                                   7764.6
Cost of Sales                                                                                           6367.1
EBITDA                                                                                                  1397.5



Depreciation & Amortization                                                                              510.9
Operating Income (EBIT)                                                                                  880.8
Financial Net                                                                                            401.0
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                                                                               479.8
Extraordinary Items + Other Income / Expense                                                              -30.4
Income before Tax                                                                                        449.4
Tax                                                                                                       81.3
Net Income after Tax                                                                                     368.1
Minority Share                                                                                             -0.3
Net Income Available for Common Shareholders                                                             368.4


Net Income per Share                                                                                      1.63
Dividends Paid per Share                                                                                  0.35
Weighted Average Number of Shares                                                                        260.1

Balance Sheet
Current Assets                                                                                   3011.394826
Fixed Assets                                                                                     7335.125181
Other Assets
Total Assets                                                                                     10346.52001


Current Liabilities                                                                              3183.469905
Long-term Debt                                                                                   3822.883417
Deferred Income Taxes
Total Liabilities                                                                                8201.328144
Shareholders' Equity                                                                             2145.191863

Cash Flow
Cash Flow from Operations                                                                        950.5407955
Dividends Paid                                                                                   36.58416549
Capital Expenditures                                                                             563.8170284
Environmental Expenditures
Acquisition of New Businesses
Depreciation                                                                                     510.8833022
Amortization




                                                                                     SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91                   Q2-95                                   Q3-95      Q4-95            1995 Total       Q1-96

                                                    Q1-95          Q2-95      Q3-95            Q4-95          1995 Total
(EUR, million)

Income Statement
Sales                                                  3079.0                      3233.2         3389.0             9701.3
Cost of Sales                                          2426.5                      2474.7         2742.3             7643.4
EBITDA                                                  652.6                       758.5          646.7             2057.8



Depreciation & Amortization                             180.2                       181.3          189.1              550.7
Operating Income (EBIT)                                 472.7                       574.1          451.9             1498.7
Financial Net                                           122.5                       131.9          129.2              383.5
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                              350.2                       442.2          322.7             1115.1
Extraordinary Items + Other Income / Expense            -14.9                        31.5         -120.0             -103.3
Income before Tax                                       335.3                       473.7          202.8             1011.8
Tax                                                      39.0                        71.8           38.6              149.4
Net Income after Tax                                    296.3                       402.0          164.1              862.4
Minority Share                                           -0.5                        12.4              5.1             17.0
Net Income Available for Common Shareholders            296.9                       389.6          159.0              845.4


Net Income per Share                                     1.23                                                          3.56
Dividends Paid per Share                                                                                               0.80
Weighted Average Number of Shares                                                                                     265.8

Balance Sheet
Current Assets                                    3606.112137                               3701.107768 3701.107768
Fixed Assets                                      7960.492099                               8103.871699 8103.871699
Other Assets
Total Assets                                      11566.60424                               11804.97947 11804.97947


Current Liabilities                               3601.326909                               3597.959527 3597.959527
Long-term Debt                                    4059.113691                               3657.331796 3657.331796
Deferred Income Taxes
Total Liabilities                                  8978.32775                               9198.625454 9198.625454
Shareholders' Equity                              2588.276485                               2606.354012 2606.354012

Cash Flow
Cash Flow from Operations                                                                                    1180.533393
Dividends Paid                                                                                                101.730396
Capital Expenditures                              189.4595702               252.730914       429.429877 871.6203612
Environmental Expenditures
Acquisition of New Businesses
Depreciation                                      180.2435761                181.30696 189.1051089            550.655645
Amortization




                                                                                               SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91                   Q2-96                                     Q3-96      Q4-96            1996-Total       Q1-97

                                                    Q1-96            Q2-96      Q3-96            Q4-96          1996-Total
(EUR, million)

Income Statement
Sales                                                  3096.8                        2834.8         3138.6             9003.0
Cost of Sales                                          2471.2                        2386.1         2665.2             7467.2
EBITDA                                                  625.6                         448.7          473.4             1535.8



Depreciation & Amortization                             185.6                         179.5          202.3              563.2
Operating Income (EBIT)                                 432.8                         254.8          270.0              950.1
Financial Net                                           105.4                         113.2           93.3              309.6
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                              327.4                         141.6          176.7              640.5
Extraordinary Items + Other Income / Expense            -37.8                          20.8            -6.3             -23.0
Income before Tax                                       289.6                         162.4          170.4              617.5
Tax                                                      47.4                          30.3           46.0              122.8
Net Income after Tax                                    242.1                         132.1          124.4              494.7
Minority Share                                              9.7                         5.2              4.5             19.3
Net Income Available for Common Shareholders            232.5                         126.9          119.9              475.4


Net Income per Share                                     0.87                          0.54           0.39               1.78
Dividends Paid per Share                                                                                                 0.78
Weighted Average Number of Shares                                                                                       267.4

Balance Sheet
Current Assets                                    3860.289934 3648.016161      3427.18487 3399.534992 3379.093538
Fixed Assets                                      8157.252322 8195.032836 8198.888805 8452.812684 8401.985795
Other Assets
Total Assets                                      12017.54226       11843.049 11626.07368 11852.34768 11781.07933


Current Liabilities                               4042.866465 3805.464257 3529.384419 3713.833605 3691.502268
Long-term Debt                                    3428.537732 3448.218744 3453.609754 3243.610681 3224.106801
Deferred Income Taxes
Total Liabilities                                 9520.865299 9323.528009 9064.609983 9249.584167 9193.966279
Shareholders' Equity                              2496.676956 2519.520988 2561.463692          2602.76351 2587.113054

Cash Flow
Cash Flow from Operations                                                                                      1290.338508
Dividends Paid                                                                                                 209.2581862
Capital Expenditures                              296.7966905                 391.9982695 368.0233753 1049.248029
Environmental Expenditures
Acquisition of New Businesses                                                                                  6.957878179
Depreciation                                      185.5638278                 179.5492074 202.2991069 563.2402386
Amortization




                                                                                                 SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91                   Q2-97                                     Q3-97            Q4-97            1997-Total      Q1-98

                                                    Q1-97            Q2-97            Q3-97            Q4-97         1997-Total
(EUR, million)

Income Statement
Sales                                                  2263.6             2275.3           1929.3         2132.1            8596.3
Cost of Sales                                          1807.6             1696.0           1543.8         1743.0            6787.9
EBITDA                                                  456.0              579.3            385.5          389.1            1808.4



Depreciation & Amortization                             141.3              134.0            124.6          148.9             548.8
Operating Income (EBIT)                                 313.3              449.1            266.8          248.5            1276.5
Financial Net                                            75.6               57.5             57.1           70.5             260.6
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                              237.7              391.6            211.4          176.4            1015.9
Extraordinary Items + Other Income / Expense             -5.0              -19.6            -13.5           -27.3            -65.7
Income before Tax                                       232.7              372.0            196.2          150.8             950.3
Tax                                                      33.2               99.7             33.2           37.4             234.7
Net Income after Tax                                    199.4              272.3            163.0          113.4             715.6
Minority Share                                              5.5             -3.4              0.3                              2.4
Net Income Available for Common Shareholders            193.9              275.8            162.6          113.4             713.2


Net Income per Share                                     0.72               1.03             0.60           0.30              2.65
Dividends Paid per Share                                18.87                                                                 0.94
Weighted Average Number of Shares                                                                                            268.9

Balance Sheet
Current Assets                                    4073.768646 3245.717229 2909.255495 2875.056313 2913.693352
Fixed Assets                                      8247.344711      7935.20784 7934.131678 8534.971093                8649.67007
Other Assets
Total Assets                                      12321.11336 11180.92507 10843.38717 11410.02741 11563.36342


Current Liabilities                               4199.349557 3134.972764 2831.511677 2968.619749                    3008.51416
Long-term Debt                                     3080.71078 3079.173934 2911.642366 3769.293904 3819.948341
Deferred Income Taxes
Total Liabilities                                 9564.041536 8318.462185 7819.561841                6869.33999 6961.655039
Shareholders' Equity                              2757.071821 2862.462884 3023.825331 4540.687415 4601.708383

Cash Flow
Cash Flow from Operations                                                                                           1101.694999
Dividends Paid                                                                                                      205.1608489
Capital Expenditures                              237.6696582 233.9455508           135.028736 141.0182728 746.1169691
Environmental Expenditures
Acquisition of New Businesses                                                                                       544.0258586
Depreciation                                      141.3217691 133.9513183 124.6287955 148.9274122 548.8010072
Amortization




                                                                                                       SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91                   Q2-98                                     Q3-98            Q4-98            1998-Total      Q1-99

                                                    Q1-98            Q2-98            Q3-98            Q4-98         1998-Total
(EUR, million)

Income Statement
Sales                                                  2114.6             2132.8           1998.3         2051.2            8298.8
Cost of Sales                                          1586.1             1357.3           1459.6         1677.9            6081.6
EBITDA                                                  528.5              775.5            538.8          373.3            2217.2



Depreciation & Amortization                             147.6              143.0            151.9          167.4             610.0
Operating Income (EBIT)                                 380.8              632.5            386.8          205.9            1631.7
Financial Net                                            62.1               22.7             54.3           67.2             206.2
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                              318.8              609.8            332.5          163.2            1425.5
Extraordinary Items + Other Income / Expense
Income before Tax                                       318.8              609.8            332.5          163.2            1425.5
Tax                                                      82.7              178.6            110.1           31.6             403.5
Net Income after Tax                                    236.0              431.2            222.4          131.6            1022.0
Minority Share                                              0.3              0.8              0.5            -0.8              0.8
Net Income Available for Common Shareholders            235.7              430.4            221.9          132.5            1021.2


Net Income per Share                                     0.87               1.57             0.83           0.51              3.79
Dividends Paid per Share                                                                                                      1.08
Weighted Average Number of Shares                       270.4                                                                269.7

Balance Sheet
Current Assets                                    3006.720693 3143.668928 2991.269405 2632.968756 2626.721588
Fixed Assets                                       8668.34373 8674.040231 8734.906497 8752.923448 8732.155644
Other Assets
Total Assets                                      11675.06442 11817.70916           11726.1759       11385.8922 11358.87723


Current Liabilities                               3722.368262 3249.640913 3276.818598 2370.039847 2364.416523
Long-term Debt                                    3316.000552 3515.070743 3167.530225 3608.414937 3599.853357
Deferred Income Taxes
Total Liabilities                                 7165.317019 6890.678354 6587.123419 6104.734253 6090.249729
Shareholders' Equity                              4509.747405 4927.030805 5139.052483 5281.157951 5268.627502

Cash Flow
Cash Flow from Operations
Dividends Paid                                                                                                      246.9538782
Capital Expenditures                              251.5609635 137.4636596 127.7807649 18.39833332 535.6229385
Environmental Expenditures
Acquisition of New Businesses                                                                                        149.340352
Depreciation                                      147.6335893      142.962206 151.9374936 167.4248332 610.0428234
Amortization




                                                                                                       SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91                   Q2-99                                    Q3-99

                                                   Q1-99            Q2-99          Q3-99        Q4-99        1999-Total
(EUR, million)

Income Statement
Sales                                                1924.0              1977.0       2053.1       2306.9          8261.0
Cost of Sales                                        1491.0              1562.0       1567.1       1453.9          6074.0
EBITDA                                                433.0               415.0        486.0        853.0          2187.0



Depreciation & Amortization                           146.0               149.0        152.0        167.0           614.0
Operating Income (EBIT)                               287.0               266.0        334.0        688.0          1575.0
Financial Net                                          46.0                42.0         45.0         44.0           177.0
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                            241.0               224.0        289.0        644.0          1398.0
Extraordinary Items + Other Income / Expense
Income before Tax                                     241.0               224.0        289.0        644.0          1398.0
Tax                                                    75.0                76.0         69.0        184.0           404.0
Net Income after Tax                                  166.0               148.0        220.0        460.0           994.0
Minority Share
Net Income Available for Common Shareholders          166.0               148.0        220.0        460.0           994.0


Net Income per Share                                   0.63                0.56         0.82         1.76            3.77
Dividends Paid per Share                                                                                             1.25
Weighted Average Number of Shares                     264.8               264.9        265.1                        264.0

Balance Sheet
Current Assets                                         2865 2864.917457 2657.016965 2838.971921 2838.988557
Fixed Assets                                           8553       8552.75358 8581.054789 8740.913548 8740.964769
Other Assets
Total Assets                                         11418 11417.67104 11238.07175 11579.88547 11579.95333


Current Liabilities                                    2659 2658.923392 2413.015407            2191.97832 2191.991165
Long-term Debt                                         3695 3694.893544 3354.021415 3714.963257 3714.985027
Deferred Income Taxes
Total Liabilities                                      6484       6483.81319 5898.037658 6043.940223 6043.975639
Shareholders' Equity                                   4934 4933.857847 5340.034096 5535.945247 5535.977687

Cash Flow
Cash Flow from Operations                                                                                    1263.93355
Dividends Paid                                                                                              289.9562796
Capital Expenditures                                       124              279   11.0087342 133.9917117 547.9977913
Environmental Expenditures
Acquisition of New Businesses                                                                               43.99982266
Depreciation                                               146              149   152.006084 167.0098019 614.0547428
Amortization




                                                                                                SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91

                                                    Q1-00       Q2-00         Q3-00      Q4-00         2000-Total
(EUR, million)

Income Statement
Sales                                                  2237.0     2316.0        2397.9      2632.0          9582.9
Cost of Sales                                          1429.0     1867.0        1721.0      2028.0          7045.0
EBITDA                                                  808.0      449.0         677.0       604.0          2538.0



Depreciation & Amortization                             149.0      150.0         175.0       200.0           674.0
Operating Income (EBIT)                                 701.0      320.0         439.0       404.0          1864.0
Financial Net                                            26.0           0.0       39.0        78.0           143.0
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                              675.0      320.0         400.0       322.0          1717.0
Extraordinary Items + Other Income / Expense                       142.0                         0.0         142.0
Income before Tax                                       675.0      462.0         400.0       322.0          1859.0
Tax                                                     192.0       97.0          97.0       108.0           494.0
Net Income after Tax                                    483.0      365.0         303.0       214.0          1365.0
Minority Share                                                                                 -1.0            -1.0
Net Income Available for Common Shareholders            483.0      365.0         303.0       215.0          1366.0


Net Income per Share                                     1.86       0.86          1.17        0.88            4.77
Dividends Paid per Share                                                                                      2.15
Weighted Average Number of Shares                       259.4      259.4         259.2                       256.8

Balance Sheet
Current Assets                                    3038.990924     2885.0        3129.0      2950.0          2950.0
Fixed Assets                                      8800.973717     8552.0        9331.0    10163.0         10162.9
Other Assets
Total Assets                                      11839.96464    11437.0       12460.0    13113.0         13112.9


Current Liabilities                               2260.993248     2016.0        2299.0      2374.0          2374.0
Long-term Debt                                    3728.988864     3819.0        3232.0      3702.0          3702.0
Deferred Income Taxes
Total Liabilities                                   6127.9817     5835.0        6529.0      6957.0          6957.0
Shareholders' Equity                              5711.982942     5602.0        5931.0      6156.0          6156.0

Cash Flow
Cash Flow from Operations                                                                                   1639.0
Dividends Paid                                                                                               324.0
Capital Expenditures                               148.999555      154.0         137.0       152.0           592.0
Environmental Expenditures
Acquisition of New Businesses                                                                                271.0
Depreciation                                       148.999555      150.0         174.9       200.0           673.9
Amortization




                                                                                         SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91

                                                   Q1-01       Q2-01         Q3-01         Q4-01         2001-Total
(EUR, million)

Income Statement
Sales                                                2488.0      2536.0        2336.0         2558.0          9918.0
Cost of Sales                                        1910.0      1998.0        1845.0         2027.0          7780.0
EBITDA                                                578.0       538.0         491.0          531.0          2138.0



Depreciation & Amortization                           178.0       183.0         182.0          201.0           744.0
Operating Income (EBIT)                               400.0       355.0         309.0          330.0          1394.0
Financial Net                                          49.0        77.0          78.0           77.0           281.0
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                            351.0       278.0         235.0          469.0          1333.0
Extraordinary Items + Other Income / Expense
Income before Tax                                     351.0       278.0         235.0          469.0          1333.0
Tax                                                    77.0        79.0          78.0          144.0           378.0
Net Income after Tax                                  274.0       199.0         157.0          325.0           955.0
Minority Share
Net Income Available for Common Shareholders

Net Income per Share                                   1.10        0.81          0.64           1.30            3.85
Dividends Paid per Share                                                                                        1.50
Weighted Average Number of Shares                     248.5       247.3         247.0          247.9           247.9

Balance Sheet
Current Assets                                       3375.0      3034.0        3015.0         3557.0          3557.0
Fixed Assets                                        10143.0     10307.9       10111.9       12874.0         12874.0
Other Assets
Total Assets                                        13518.0     13341.9       13126.9       16431.0         16431.0


Current Liabilities                                  2792.0      2342.0        2231.0         3601.0          3601.0
Long-term Debt                                       4156.0      4226.0        4698.0         4913.0          4913.0
Deferred Income Taxes
Total Liabilities                                    7839.0      7448.0        7085.0         9621.0          9621.0
Shareholders' Equity                                 5679.0      5894.0        6042.0         6810.0          6810.0

Cash Flow
Cash Flow from Operations                             265.0       324.0         400.0          656.0          1645.0
Dividends Paid                                                    371.0                            0.0         371.0
Capital Expenditures                                  244.0       211.0         137.0          257.0           849.0
Environmental Expenditures
Acquisition of New Businesses                         126.0            6.0           1.0      2234.0          2367.0
Depreciation                                          178.0       183.0         182.0          201.0           744.0
Amortization




                                                                                           SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91

                                                   Q1-02         Q2-02         Q3-02         Q4-02        2002-Total
(EUR, million)

Income Statement
Sales                                                2566.0        2679.0        2613.0         2617.0        10475.0
Cost of Sales                                        2054.0        2184.0        2045.0         2076.0          8349.0
EBITDA                                                512.0         495.0         568.0          541.0          2126.0



Depreciation & Amortization                           238.0         230.0         228.0          322.0          1018.0
Operating Income (EBIT)                               274.0         265.0         340.0          219.0          1108.0
Financial Net                                          67.0          72.0          63.0           71.0           273.0
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                            217.0         193.0         277.0          148.0           835.0
Extraordinary Items + Other Income / Expense          -10.0              6.0           4.0        -46.0           -46.0
Income before Tax                                     207.0         199.0         281.0          102.0           789.0
Tax                                                    60.0          67.0          95.0           19.0           241.0
Net Income after Tax                                  147.0         132.0         186.0           83.0           548.0
Minority Share                                         -1.0                                        -1.0            -2.0
Net Income Available for Common Shareholders          148.0         132.0         186.0           84.0           550.0


Net Income per Share                                   0.57          0.51          0.72           0.32            2.12
Dividends Paid per Share                                                                                          1.50
Weighted Average Number of Shares                     258.7         258.9         259.3          259.5           259.5

Balance Sheet
Current Assets                                       3389.0        3192.0        3272.0         3263.0          3263.0
Fixed Assets                                        12829.0       12488.0       12373.0       12111.0         12111.0
Other Assets
Total Assets                                        16218.0       15680.0       15645.0       15374.0         15374.0


Current Liabilities                                  3254.0        2952.0        2941.0         2187.0          2187.0
Long-term Debt                                       5321.0        4974.0        4716.0         5139.0          5139.0
Deferred Income Taxes
Total Liabilities                                    9688.0        9032.0        8792.0         8454.0          8454.0
Shareholders' Equity                                 6530.0        6648.0        6853.0         6920.0          6920.0

Cash Flow
Cash Flow from Operations                             287.0         406.0         299.0          437.0          1429.0
Dividends Paid                                                      388.0                                        388.0
Capital Expenditures                                  126.0         138.0         124.0          173.0           561.0
Environmental Expenditures
Acquisition of New Businesses                              9.0       17.0                         26.0            52.0
Depreciation                                          238.0         230.0         228.0          322.0          1018.0
Amortization




                                                                                             SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91

                                                   Q1-03         Q2-03      Q3-03      Q4-03        2003-Total
(EUR, million)

Income Statement
Sales                                                2458.0        2501.0     2437.0      2552.0          9948.0
Cost of Sales                                        2079.0        2102.0     2022.0      2146.0          8367.0
EBITDA                                                379.0         399.0      415.0       406.0          1581.0



Depreciation & Amortization                           201.0         208.0      235.0       282.0           926.0
Operating Income (EBIT)                               178.0         191.0      180.0       124.0           655.0
Financial Net                                          83.0          66.0       52.0        42.0           225.0
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                             95.0         125.0      128.0        82.0           430.0
Extraordinary Items + Other Income / Expense           -4.0          -5.0      -15.0       153.0           129.0
Income before Tax                                      91.0         120.0      113.0       235.0           559.0
Tax                                                    30.0          48.0       42.0        73.0           193.0
Net Income after Tax                                   61.0          72.0       71.0       162.0           366.0
Minority Share                                                                  -1.0         -1.0            -2.0
Net Income Available for Common Shareholders           61.0          72.0       72.0       163.0           368.0


Net Income per Share                                   0.12          0.13       0.14        0.31            0.70
Dividends Paid per Share                                                                                    0.75
Weighted Average Number of Shares                     521.8         523.6      523.0       523.6           523.1

Balance Sheet
Current Assets                                       3063.0        3148.0     3032.0      3031.0          3031.0
Fixed Assets                                        11910.0       11793.0    11650.0    11486.0         11486.0
Other Assets
Total Assets                                        14973.0       14941.0    14682.0    14517.0         14517.0


Current Liabilities                                  2459.0        2483.0     2216.0      2288.0          2288.0
Long-term Debt                                       4868.0        4760.0     4697.0      4918.0          4918.0
Deferred Income Taxes
Total Liabilities                                    8381.0        8290.0     7966.0      7648.0          7648.0
Shareholders' Equity                                 6592.0        6651.0     6716.0      6869.0          6869.0

Cash Flow
Cash Flow from Operations                             198.0         185.0      422.0       459.0          1264.0
Dividends Paid                                                      390.0                                  390.0
Capital Expenditures                                  139.0         137.0      133.0       175.0           584.0
Environmental Expenditures
Acquisition of New Businesses                              1.0       10.0                                   36.0
Depreciation                                          201.0         208.0      235.0       282.0           926.0
Amortization




                                                                                       SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91

                                                   Q1-04       Q2-04         Q3-04         Q4-04         2004-Total
(EUR, million)

Income Statement
Sales                                                2451.0      2497.0        2449.0         2423.0          9820.0
Cost of Sales                                        2096.0      2148.0        2049.0         1971.0          8264.0
EBITDA                                                355.0       349.0         400.0          452.0          1556.0



Depreciation & Amortization                           254.0       258.0         260.0          350.0          1122.0
Operating Income (EBIT)                               101.0        91.0         140.0          102.0           434.0
Financial Net                                          38.0            8.0           7.0        13.0            66.0
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                             63.0        83.0         133.0           89.0           368.0
Extraordinary Items + Other Income / Expense                                    110.0          122.0           232.0
Income before Tax                                      63.0        83.0         243.0          211.0           600.0
Tax                                                    14.0      -214.0          75.0         -234.0          -359.0
Net Income after Tax                                   49.0       297.0         168.0          445.0           959.0
Minority Share                                                                                     1.0            1.0
Net Income Available for Common Shareholders           49.0       297.0         168.0          444.0           958.0


Net Income per Share                                   0.09        0.57          0.32           0.85            1.83
Dividends Paid per Share                                                                                        0.75
Weighted Average Number of Shares                     523.6       523.6         523.6          523.8           523.6

Balance Sheet
Current Assets                                       3629.0      3287.0        3107.0         3025.0          3025.0
Fixed Assets                                        13497.0     13215.0       13100.0       12802.0         12802.0
Other Assets
Total Assets                                        17126.0     16502.0       16207.0       15827.0         15827.0


Current Liabilities                                  3084.0      2666.0        2151.0         2272.0          2272.0
Long-term Debt                                       6554.0      6846.0        6895.0         5943.0          5943.0
Deferred Income Taxes
Total Liabilities                                   10455.0      9544.0        9077.0         8241.0          8241.0
Shareholders' Equity                                 6671.0      6958.0        7130.0         7586.0          7586.0

Cash Flow
Cash Flow from Operations                             -28.0       295.0         348.0          382.0           997.0
Dividends Paid                                                    392.0              1.0                       393.0
Capital Expenditures                                  136.0       188.0         157.0          149.0           630.0
Environmental Expenditures
Acquisition of New Businesses                                          8.0           2.0        31.0            41.0
Depreciation                                          254.0       258.0         260.0          350.0          1122.0
Amortization




                                                                                           SPPR Quarterly Financial Database
                                        Financial Statements



 UPM-Kymmene Corporation
Q1-91

                                                   Q1-05         Q2-05      Q3-05         Q4-05        2005-Total
(EUR, million)

Income Statement
Sales                                                2278.0        2253.0     2243.0         2574.0          9348.0
Cost of Sales                                        1880.0        2011.0     1853.0         1947.0          7691.0
EBITDA                                                398.0         242.0      390.0          627.0          1657.0



Depreciation & Amortization                           225.0         231.0      233.0          441.0          1130.0
Operating Income (EBIT)                               173.0          11.0      157.0          186.0           527.0
Financial Net                                          13.0          61.0       16.0           20.0            21.0
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                            160.0         -50.0      141.0          166.0           506.0
Extraordinary Items + Other Income / Expense           89.0                         8.0      -257.0          -249.0
Income before Tax                                     249.0         -50.0      149.0           -91.0          257.0
Tax                                                    44.0         -72.0       38.0           -14.0            -4.0
Net Income after Tax                                  205.0          22.0      111.0           -77.0          261.0
Minority Share                                                       -1.0                       -1.0            -2.0
Net Income Available for Common Shareholders          205.0          23.0      111.0           -76.0          263.0


Net Income per Share                                   0.39          0.05       0.21           -0.15           0.50
Dividends Paid per Share                                                                                       0.75
Weighted Average Number of Shares                     520.3         521.6      523.1          523.1           522.0

Balance Sheet
Current Assets                                       3316.0        2660.0     3073.0         3188.0          3188.0
Fixed Assets                                        12576.0       12612.0    12541.0       12321.0         12321.0
Other Assets                                                        259.0       22.0           32.0            32.0
Total Assets                                        15982.0       15531.0    15636.0       15541.0         15541.0


Current Liabilities                                  2633.0        2108.0     2337.0         2348.0          2348.0
Long-term Debt                                       6022.0        6069.0     5884.0         5845.0          5845.0
Deferred Income Taxes
Total Liabilities                                    8745.0        8228.0     8221.0         8193.0          8193.0
Shareholders' Equity                                 7237.0        7303.0     7415.0         7348.0          7348.0

Cash Flow
Cash Flow from Operations                              98.0         375.0      170.0          210.0           853.0
Dividends Paid                                                      387.0           1.0                       388.0
Capital Expenditures                                  159.0         149.0      194.0          220.0           705.0
Environmental Expenditures
Acquisition of New Businesses                              1.0       13.0           1.0        29.0            44.0
Depreciation                                          225.0         231.0      233.0          441.0          1130.0
Amortization




                                                                                          SPPR Quarterly Financial Database
                                            Financial Statements



 UPM-Kymmene Corporation
Q1-91

                                                   Q1-06         Q2-06         Q3-06         Change from
(EUR, million)                                                                               Prior Period

Income Statement
Sales                                                2460.0         2484.0       2495.0              11.0
Cost of Sales                                        2052.0         2049.0       1946.0            -103.0
EBITDA                                                408.0          435.0        549.0             114.0



Depreciation & Amortization                           223.0          356.0        340.0             -16.0
Operating Income (EBIT)                               185.0           79.0        209.0             130.0
Financial Net                                          34.0           47.0         44.0               -3.0
Interest Expense
Interest Net
Income from Affiliates, Shares & Participations
Income after Financial Net                            151.0           32.0        165.0             133.0
Extraordinary Items + Other Income / Expense           -15.0        -133.0        -36.0              97.0
Income before Tax                                     136.0         -101.0        129.0             230.0
Tax                                                    37.0              2.0      -18.0             -20.0
Net Income after Tax                                   99.0         -103.0        147.0             250.0
Minority Share                                                                     -1.0               -1.0
Net Income Available for Common Shareholders           99.0         -103.0        148.0             251.0


Net Income per Share                                   0.19          -0.20         0.29              0.49
Dividends Paid per Share
Weighted Average Number of Shares                     523.1          523.3        523.3

Balance Sheet
Current Assets                                       3584.0         3187.0       3141.0             -46.0
Fixed Assets                                        12246.0        11546.0      11473.0             -73.0
Other Assets                                               7.0       124.0                         -124.0
Total Assets                                        15837.0        14857.0      14614.0            -243.0


Current Liabilities                                  2832.0         2267.0       2116.0            -151.0
Long-term Debt                                       5921.0         5572.0       5376.0            -196.0
Deferred Income Taxes
Total Liabilities                                    8765.0         7883.0       7492.0            -391.0
Shareholders' Equity                                 7072.0         6974.0       7122.0             148.0

Cash Flow
Cash Flow from Operations                             180.0          254.0        366.0             112.0
Dividends Paid                                                       392.0                         -392.0
Capital Expenditures                                  151.0          150.0        169.0              19.0
Environmental Expenditures
Acquisition of New Businesses                          33.0              8.0           9.0             1.0
Depreciation                                          223.0          356.0        340.0             -16.0
Amortization




                                                                                             SPPR Quarterly Financial Database
                           Segments



 UPM-Kymmene Corporation
Q1-91                   Q2-91          Q3-91      Q4-91      1991 Total    Q1-92*

                               Q1-91      Q2-91      Q3-91      Q4-91        1991 Total
(EUR, million)

Segment Sales
Paper Industry
Converting Industry

Wood Products Industry
Other Operations
Intersegment
Segment Operating Income
Paper Industry
Converting Industry

Wood Products Industry
Other Operations




                                                                SPPR Quarterly Financial Database
                           Segments



 UPM-Kymmene Corporation
Q1-91                   Q2-92           Q3-92*     Q4-92*      1992 Total    Q1-93

                               Q1-92*      Q2-92      Q3-92*      Q4-92*       1992 Total
(EUR, million)

Segment Sales
Paper Industry
Converting Industry

Wood Products Industry
Other Operations
Intersegment
Segment Operating Income
Paper Industry
Converting Industry

Wood Products Industry
Other Operations




                                                                  SPPR Quarterly Financial Database
                           Segments



 UPM-Kymmene Corporation
Q1-91                   Q2-93          Q3-93      Q4-93      1993 Total    Q1-94

                               Q1-93      Q2-93      Q3-93      Q4-93        1993 Total
(EUR, million)

Segment Sales
Paper Industry                                                                     3102.5
Converting Industry                                                                 875.4
                                                                                    609.5
Wood Products Industry                                                             1044.3
Other Operations
Intersegment
Segment Operating Income
Paper Industry                                                                      296.1
Converting Industry                                                                  94.5
                                                                                       2.8
Wood Products Industry                                                               79.6
Other Operations




                                                                SPPR Quarterly Financial Database
                           Segments



 UPM-Kymmene Corporation
Q1-91                   Q2-94          Q3-94      Q4-94      1994 Total    Q1-95

                               Q1-94      Q2-94      Q3-94      Q4-94        1994 Total
(EUR, million)

Segment Sales
Paper Industry                                                                     3356.4
Converting Industry                                                                 835.3
                                                                                    790.1
Wood Products Industry                                                             1179.4
Other Operations
Intersegment
Segment Operating Income
Paper Industry                                                                      333.8
Converting Industry                                                                  61.2
                                                                                    138.2
Wood Products Industry                                                              120.4
Other Operations




                                                                SPPR Quarterly Financial Database
                           Segments



 UPM-Kymmene Corporation
Q1-91                   Q2-95                Q3-95      Q4-95            1995 Total       Q1-96

                               Q1-95            Q2-95      Q3-95            Q4-95          1995 Total
(EUR, million)

Segment Sales
Paper Industry                   1402.2                         1500.1         1552.9             4455.2
Converting Industry               346.7                          339.9          328.6             1015.2
                                  351.6                          389.0          335.1             1075.8
Wood Products Industry            431.4                          395.2          388.7             1215.3
Other Operations
Intersegment
Segment Operating Income
Paper Industry                    211.6                          286.1          298.3              795.9
Converting Industry                   28.4                        28.2              7.6             64.2
                                  124.6                          149.1          121.2              394.9
Wood Products Industry                42.5                         9.4           -23.6              28.4
Other Operations




                                                                            SPPR Quarterly Financial Database
                           Segments



 UPM-Kymmene Corporation
Q1-91                   Q2-96                Q3-96      Q4-96            1996-Total      Q1-97

                               Q1-96            Q2-96      Q3-96            Q4-96         1996-Total
(EUR, million)

Segment Sales
Paper Industry                   1385.2                         1262.8         1412.8            4030.7
Converting Industry               334.2                          305.0          319.9             952.0
                                  272.7                          210.3          236.6             714.2
Wood Products Industry            391.0                          388.7          424.0            1194.8
Other Operations
Intersegment
Segment Operating Income
Paper Industry                    231.6                          198.4          131.1             556.8
Converting Industry                   36.2                        35.5           26.2              97.2
                                      37.4                       -49.9           -18.2            -30.6
Wood Products Industry                 3.9                         0.7           11.4              15.8
Other Operations




                                                                            SPPR Quarterly Financial Database
                           Segments



 UPM-Kymmene Corporation
Q1-91                   Q2-97                Q3-97            Q4-97            1997-Total     Q1-98

                               Q1-97            Q2-97            Q3-97            Q4-97        1997-Total
(EUR, million)

Segment Sales
Paper Industry                    971.4              1054.5           1020.2         1186.0           4234.2
Converting Industry               246.1               216.0            207.7          223.1            852.9
                                  184.0               153.4            196.4          190.7            724.5
Wood Products Industry            313.8               365.5            318.3          367.4           1365.4
Other Operations
Intersegment
Segment Operating Income
Paper Industry                        56.6             73.9             92.1          109.5            332.7
Converting Industry                   23.2             13.8              9.7           11.9             49.3
                                  -11.6                -7.5             52.0           33.0            100.8
Wood Products Industry                14.0             35.3             18.2           41.7             75.4
Other Operations




                                                                                  SPPR Quarterly Financial Database
                           Segments



 UPM-Kymmene Corporation
Q1-91                   Q2-98                Q3-98            Q4-98            1998-Total      Q1-99

                               Q1-98            Q2-98            Q3-98            Q4-98         1998-Total
(EUR, million)

Segment Sales
Paper Industry                   1160.7              1208.3           1178.8         1192.7            4741.7
Converting Industry               220.0               230.8            208.2          383.5            1671.4
                                  146.5               136.8            127.8          110.7             521.9
Wood Products Industry            336.8               362.6            319.5          333.8            1353.1
Other Operations
Intersegment
Segment Operating Income
Paper Industry                    162.3               179.6            199.1          159.9             701.1
Converting Industry                   14.7             11.8             10.8           10.9              84.3
                                      34.0             21.8             31.0           -15.1             71.9
Wood Products Industry                27.5             33.0             14.2           17.2              91.9
Other Operations




                                                                                  SPPR Quarterly Financial Database
                           Segments



 UPM-Kymmene Corporation
Q1-91                   Q2-99                Q3-99

                               Q1-99            Q2-99         Q3-99      Q4-99        1999-Total
(EUR, million)

Segment Sales
Paper Industry                   1057.0              1091.0     1154.0      1357.0          4659.0
Converting Industry               409.0               431.0      435.0       459.0          1734.0
                                  126.0               128.0      142.0       171.0           567.0
Wood Products Industry            601.0               581.0      563.0       622.0          2367.0
Other Operations                                                 229.0       635.0           864.0
Intersegment                                                    -470.0     -1460.0         -1930.0

Segment Operating Income
Paper Industry                    141.0               105.0      151.0       194.0           591.0
Converting Industry                   31.0             39.0       41.0        18.0           129.0
                                      -6.0              4.0       38.0        59.0            95.0
Wood Products Industry                30.0             31.0       35.0        32.0           128.0
Other Operations                                                 338.9        35.1            41.0




                                                                         SPPR Quarterly Financial Database
                                      Production - Shipment



 UPM-Kymmene Corporation
Q1-91                   Q2-91                            Q3-91        Q4-91      1991 Total    Q1-92*

                                                 Q1-91        Q2-91      Q3-91      Q4-91        1991 Total
(Metric Tons, thousand)

Shipments
Wood Raw Materials Used (Cubic Meter, million)
 Whereof from Company Land
Land Ownership (1000HA)
Chemical Pulp Production
Mechanical Pulp
Recycled Fibre Pulp
Total Pulp Production
Total Pulp Consumption
Newsprint
Magazine Paper
SC Paper
LWC Paper
Total Publication Papers
Fine Papers
Other Special Paper Products
Total Paper
Total Paperboard
Sawn Goods (Cubic Meter, thousand)
Plywood (Cubic Meter, thousand)




                                                                                    SPPR Quarterly Financial Database
                                      Production - Shipment



 UPM-Kymmene Corporation
Q1-91                   Q2-92                             Q3-92*      Q4-92*      1992 Total    Q1-93

                                                 Q1-92*       Q2-92      Q3-92*      Q4-92*       1992 Total
(Metric Tons, thousand)

Shipments
Wood Raw Materials Used (Cubic Meter, million)
 Whereof from Company Land
Land Ownership (1000HA)
Chemical Pulp Production
Mechanical Pulp
Recycled Fibre Pulp
Total Pulp Production
Total Pulp Consumption
Newsprint
Magazine Paper
SC Paper
LWC Paper
Total Publication Papers
Fine Papers
Other Special Paper Products
Total Paper
Total Paperboard
Sawn Goods (Cubic Meter, thousand)
Plywood (Cubic Meter, thousand)




                                                                                     SPPR Quarterly Financial Database
                                      Production - Shipment



 UPM-Kymmene Corporation
Q1-91                   Q2-93                            Q3-93        Q4-93      1993 Total    Q1-94

                                                 Q1-93        Q2-93      Q3-93      Q4-93        1993 Total
(Metric Tons, thousand)

Shipments
Wood Raw Materials Used (Cubic Meter, million)                                                           22.0
 Whereof from Company Land                                                                                 3.4
Land Ownership (1000HA)                                                                                 909.0
Chemical Pulp Production                                                                               1972.0
Mechanical Pulp                                                                                        2462.0
Recycled Fibre Pulp                                                                                     268.0
Total Pulp Production                                                                                  4855.0
Total Pulp Consumption                                                                                 4757.0
Newsprint                                                                                              1740.0
Magazine Paper
SC Paper                                                                                                909.0
LWC Paper                                                                                              1447.0
Total Publication Papers
Fine Papers                                                                                            1292.0
Other Special Paper Products                                                                            186.0
Total Paper                                                                                            5574.0
Total Paperboard                                                                                        125.0
Sawn Goods (Cubic Meter, thousand)                                                                     1957.0
Plywood (Cubic Meter, thousand)                                                                           442




                                                                                    SPPR Quarterly Financial Database
                                      Production - Shipment



 UPM-Kymmene Corporation
Q1-91                   Q2-94                            Q3-94        Q4-94      1994 Total    Q1-95

                                                 Q1-94        Q2-94      Q3-94      Q4-94        1994 Total
(Metric Tons, thousand)

Shipments
Wood Raw Materials Used (Cubic Meter, million)                                                           23.2
 Whereof from Company Land                                                                                 2.5
Land Ownership (1000HA)                                                                                 909.0
Chemical Pulp Production                                                                               2040.0
Mechanical Pulp                                                                                        2575.0
Recycled Fibre Pulp                                                                                     416.0
Total Pulp Production                                                                                  5275.0
Total Pulp Consumption                                                                                 5190.0
Newsprint                                                                                              1809.0
Magazine Paper                                                                                         2643.0
SC Paper                                                                                               1069.0
LWC Paper                                                                                              1574.0
Total Publication Papers
Fine Papers                                                                                            1484.0
Other Special Paper Products                                                                            203.0
Total Paper                                                                                            6608.0
Total Paperboard                                                                                        134.0
Sawn Goods (Cubic Meter, thousand)                                                                     2075.0
Plywood (Cubic Meter, thousand)                                                                           717




                                                                                    SPPR Quarterly Financial Database
                                      Production - Shipment



 UPM-Kymmene Corporation
Q1-91                   Q2-95                                  Q3-95      Q4-95            1995 Total       Q1-96

                                                 Q1-95            Q2-95      Q3-95            Q4-95          1995 Total
(Metric Tons, thousand)

Shipments
Wood Raw Materials Used (Cubic Meter, million)                                                                        24.4
 Whereof from Company Land                                                                                             1.0
Land Ownership (1000HA)                                                                                              935.0
Chemical Pulp Production                            722.0                          701.0          577.0             2000.0
Mechanical Pulp                                                                                                     2813.0
Recycled Fibre Pulp                                                                                                  378.0
Total Pulp Production                                                                                               5467.0
Total Pulp Consumption                                                                                              5526.0
Newsprint                                           611.0                          608.0          626.0             1845.0
Magazine Paper                                                                                                      2897.0
SC Paper                                            383.0                          374.0          380.0             1137.0
LWC Paper                                           594.0                          595.0          571.0             1760.0
Total Publication Papers
Fine Papers                                         512.0                          504.0          340.0             1356.0
Other Special Paper Products                                                                                         193.0
Total Paper                                        2333.0                         2307.0         2093.0             6733.0
Total Paperboard                                     48.0                           45.0           31.0              124.0
Sawn Goods (Cubic Meter, thousand)                  713.0                          597.0          647.0             1939.0
Plywood (Cubic Meter, thousand)                          211                         182              221             614




                                                                                              SPPR Quarterly Financial Database
                                      Production - Shipment



 UPM-Kymmene Corporation
Q1-91                   Q2-96                                  Q3-96      Q4-96            1996-Total       Q1-97

                                                 Q1-96            Q2-96      Q3-96            Q4-96          1996-Total
(Metric Tons, thousand)

Shipments
Wood Raw Materials Used (Cubic Meter, million)                                                                        22.7
 Whereof from Company Land                                                                                             1.2
Land Ownership (1000HA)                                                                                              940.0
Chemical Pulp Production                            621.0                          593.0          660.0             1874.0
Mechanical Pulp                                                                                                     2464.0
Recycled Fibre Pulp                                                                                                  351.0
Total Pulp Production                                                                                               4932.0
Total Pulp Consumption                                                                                              4956.0
Newsprint                                           593.0                          511.0          488.0             1592.0
Magazine Paper                                                                                                      2460.0
SC Paper                                            324.0                          308.0
LWC Paper                                           497.0                          445.0
Total Publication Papers
Fine Papers                                         423.0                          470.0          536.0             1429.0
Other Special Paper Products                                                                                         211.0
Total Paper                                        2050.0                         1962.0         2136.0             6134.0
Total Paperboard                                                                                                     129.0
Sawn Goods (Cubic Meter, thousand)                  616.0                          569.0          672.0             1857.0
Plywood (Cubic Meter, thousand)                          202                         179              236             617




                                                                                              SPPR Quarterly Financial Database
                                      Production - Shipment



 UPM-Kymmene Corporation
Q1-91                   Q2-97                                  Q3-97            Q4-97            1997-Total       Q1-98

                                                 Q1-97            Q2-97            Q3-97            Q4-97          1997-Total
(Metric Tons, thousand)

Shipments
Wood Raw Materials Used (Cubic Meter, million)                                                                              25.1
 Whereof from Company Land                                                                                                   1.9
Land Ownership (1000HA)                                                                                                    940.0
Chemical Pulp Production                            551.0               431.0            510.0          471.0             1963.0
Mechanical Pulp                                                                                                           2708.0
Recycled Fibre Pulp                                                                                                        452.0
Total Pulp Production                                                                                                     5695.0
Total Pulp Consumption                                                                                                    5652.0
Newsprint                                           453.0               458.0            487.0          485.0             1883.0
Magazine Paper                                      694.0               686.0            752.0          802.0             2934.0
SC Paper
LWC Paper
Total Publication Papers
Fine Papers                                         426.0               410.0            426.0          419.0             1681.0
Other Special Paper Products                        193.0               147.0            176.0          184.0              700.0
Total Paper                                        1766.0              1701.0           1841.0         1890.0             7198.0
Total Paperboard
Sawn Goods (Cubic Meter, thousand)                  499.0               570.0            421.0          560.0             2050.0
Plywood (Cubic Meter, thousand)                          176              189              149              196             710




                                                                                                    SPPR Quarterly Financial Database
                                      Production - Shipment



 UPM-Kymmene Corporation
Q1-91                   Q2-98                                  Q3-98            Q4-98            1998-Total       Q1-99

                                                 Q1-98            Q2-98            Q3-98            Q4-98          1998-Total
(Metric Tons, thousand)

Shipments
Wood Raw Materials Used (Cubic Meter, million)
 Whereof from Company Land
Land Ownership (1000HA)
Chemical Pulp Production                            504.0               465.0            510.0          434.0             1913.0
Mechanical Pulp
Recycled Fibre Pulp
Total Pulp Production
Total Pulp Consumption
Newsprint                                           485.0               468.0            507.0          475.0             1935.0
Magazine Paper                                      864.0               836.0            878.0          755.0             3333.0
SC Paper
LWC Paper
Total Publication Papers
Fine Papers                                         427.0               392.0            393.0          346.0             1558.0
Other Special Paper Products                        175.0               175.0            166.0          157.0              673.0
Total Paper                                        1951.0              1871.0           1944.0         1733.0             7499.0
Total Paperboard
Sawn Goods (Cubic Meter, thousand)                  494.0               582.0            441.0          587.0             2104.0
Plywood (Cubic Meter, thousand)                          194              188              148              168             698




                                                                                                    SPPR Quarterly Financial Database
                                      Production - Shipment



 UPM-Kymmene Corporation
Q1-91                   Q2-99                                  Q3-99

                                                 Q1-99            Q2-99         Q3-99         Q4-99         1999-Total
(Metric Tons, thousand)

Shipments
Wood Raw Materials Used (Cubic Meter, million)
 Whereof from Company Land
Land Ownership (1000HA)
Chemical Pulp Production                            483.0               444.0      459.0          460.0          1846.0
Mechanical Pulp
Recycled Fibre Pulp
Total Pulp Production
Total Pulp Consumption
Newsprint                                           469.0               481.0      496.0          460.0          1906.0
Magazine Paper                                      718.0               701.0      887.0          891.0          3197.0
SC Paper
LWC Paper
Total Publication Papers
Fine Papers                                         383.0               384.0      418.0          441.0          1626.0
Other Special Paper Products                        171.0               192.0      202.0          200.0           765.0
Total Paper                                        1741.0              1758.0     2003.0         1992.0          7494.0
Total Paperboard
Sawn Goods (Cubic Meter, thousand)                  462.0               481.0      418.0          550.0          1911.0
Plywood (Cubic Meter, thousand)                          183              184           158           204           729




                                                                                              SPPR Quarterly Financial Database
                                                Key Ratios



  UPM-Kymmene Corporation
UPM - Kymmene CorporationQ2-91                                Q3-91      Q4-91      1991 Total    Q1-92*

                                                      Q1-91      Q2-91      Q3-91      Q4-91        1991 Total



Ratios
 EBITDA/Sales                                                                                              10.4%
 Operating Income (EBIT)/Sales                                                                              2.8%
 Earnings after Interest and Financial Items/Sales                                                         -5.1%
 Interest Net/Sales
 Net Income after Tax/Sales                                                                                -7.3%
 Cash Flow/Sales

 Tax/Net Income after Tax + Tax                                                                           -12.6%
 Sales/Employees (thousand)                                                                                115.5
 Capital Expenditures/Sales
 R&D/Sales
 Payroll Costs/Sales
 Payroll Costs/Employees

 Current Assets/Current Liabilities                                                                      119.0%
 Shareholders' Equity/Total Assets                                                                         15.4%
 Current Assets/Total Assets                                                                               33.5%
 Current Liabilities/Long-term Debt                                                                        64.8%
 Long-term Debt/Total Assets                                                                               43.5%
 Net Income after Tax/Total Assets                                                                         -4.0%
 Net Income after Tax/Shareholders Equity                                                                 -26.1%




                                                                                       SPPR Quarterly Financial Database
                                                Key Ratios



  UPM-Kymmene Corporation
UPM - Kymmene CorporationQ2-92                                Q3-92*     Q4-92*      1992 Total    Q1-93

                                                     Q1-92*      Q2-92      Q3-92*      Q4-92*       1992 Total



Ratios
 EBITDA/Sales                                                                                              13.6%
 Operating Income (EBIT)/Sales                                                                               5.7%
 Earnings after Interest and Financial Items/Sales                                                          -3.4%
 Interest Net/Sales
 Net Income after Tax/Sales                                                                                 -5.4%
 Cash Flow/Sales

 Tax/Net Income after Tax + Tax                                                                            -11.1%
 Sales/Employees (thousand)                                                                                 136.0
 Capital Expenditures/Sales
 R&D/Sales
 Payroll Costs/Sales
 Payroll Costs/Employees

 Current Assets/Current Liabilities                                                                        101.1%
 Shareholders' Equity/Total Assets                                                                         15.0%
 Current Assets/Total Assets                                                                               30.5%
 Current Liabilities/Long-term Debt                                                                        68.1%
 Long-term Debt/Total Assets                                                                               44.3%
 Net Income after Tax/Total Assets                                                                          -3.0%
 Net Income after Tax/Shareholders Equity                                                                  -20.2%




                                                                                        SPPR Quarterly Financial Database
                                                Key Ratios



  UPM-Kymmene Corporation
UPM - Kymmene CorporationQ2-93                                Q3-93      Q4-93      1993 Total    Q1-94

                                                      Q1-93      Q2-93      Q3-93      Q4-93        1993 Total



Ratios
 EBITDA/Sales                                                                                             16.5%
 Operating Income (EBIT)/Sales                                                                              9.2%
 Earnings after Interest and Financial Items/Sales                                                          1.2%
 Interest Net/Sales
 Net Income after Tax/Sales                                                                                -0.7%
 Cash Flow/Sales

 Tax/Net Income after Tax + Tax                                                                         -255.6%
 Sales/Employees (thousand)                                                                                161.2
 Capital Expenditures/Sales
 R&D/Sales
 Payroll Costs/Sales
 Payroll Costs/Employees

 Current Assets/Current Liabilities                                                                       95.3%
 Shareholders' Equity/Total Assets                                                                        18.5%
 Current Assets/Total Assets                                                                              28.4%
 Current Liabilities/Long-term Debt                                                                       70.4%
 Long-term Debt/Total Assets                                                                              42.3%
 Net Income after Tax/Total Assets                                                                         -0.4%
 Net Income after Tax/Shareholders Equity                                                                  -2.4%




                                                                                       SPPR Quarterly Financial Database
                                                Key Ratios



  UPM-Kymmene Corporation
UPM - Kymmene CorporationQ2-94                                Q3-94      Q4-94      1994 Total    Q1-95

                                                      Q1-94      Q2-94      Q3-94      Q4-94        1994 Total



Ratios
 EBITDA/Sales                                                                                             18.0%
 Operating Income (EBIT)/Sales                                                                            11.3%
 Earnings after Interest and Financial Items/Sales                                                          6.2%
 Interest Net/Sales
 Net Income after Tax/Sales                                                                                 4.7%
 Cash Flow/Sales                                                                                          12.2%


 Tax/Net Income after Tax + Tax                                                                           18.1%
 Sales/Employees (thousand)                                                                                172.8
 Capital Expenditures/Sales                                                                                 7.3%
 R&D/Sales                                                                                                  0.7%
 Payroll Costs/Sales
 Payroll Costs/Employees

 Current Assets/Current Liabilities                                                                       94.6%
 Shareholders' Equity/Total Assets                                                                        20.7%
 Current Assets/Total Assets                                                                              29.1%
 Current Liabilities/Long-term Debt                                                                       83.3%
 Long-term Debt/Total Assets                                                                              36.9%
 Net Income after Tax/Total Assets                                                                          3.6%
 Net Income after Tax/Shareholders Equity                                                                 17.2%




                                                                                       SPPR Quarterly Financial Database
                                                Key Ratios



  UPM-Kymmene Corporation
UPM - Kymmene CorporationQ2-95                                      Q3-95      Q4-95           1995 Total     Q1-96

                                                      Q1-95            Q2-95      Q3-95           Q4-95        1995 Total



Ratios
 EBITDA/Sales                                           21.2%                          23.5%         19.1%            21.2%
 Operating Income (EBIT)/Sales                          15.4%                          17.8%         13.3%            15.4%
 Earnings after Interest and Financial Items/Sales      11.4%                          13.7%           9.5%           11.5%
 Interest Net/Sales
 Net Income after Tax/Sales                              9.6%                          12.4%           4.8%            8.9%
 Cash Flow/Sales                                                                                                      12.2%


 Tax/Net Income after Tax + Tax                         11.6%                          15.2%         19.1%            14.8%
 Sales/Employees (thousand)                                  68.5                       70.0                           212.1
 Capital Expenditures/Sales                              6.2%                          7.8%          12.7%             9.0%
 R&D/Sales                                                                                                             0.7%
 Payroll Costs/Sales                                                                                                  17.3%
 Payroll Costs/Employees                                                                                                 0.0


 Current Assets/Current Liabilities                    100.1%                                       102.9%            102.9%
 Shareholders' Equity/Total Assets                      22.4%                                        22.1%            22.1%
 Current Assets/Total Assets                            31.2%                                        31.4%            31.4%
 Current Liabilities/Long-term Debt                     88.7%                                        98.4%            98.4%
 Long-term Debt/Total Assets                            35.1%                                        31.0%            31.0%
 Net Income after Tax/Total Assets                       2.6%                                          1.4%            7.3%
 Net Income after Tax/Shareholders Equity               11.4%                                          6.3%           33.1%




                                                                                                  SPPR Quarterly Financial Database
                                                Key Ratios



  UPM-Kymmene Corporation
UPM - Kymmene CorporationQ2-96                                      Q3-96            Q4-96            1996-Total     Q1-97

                                                      Q1-96            Q2-96            Q3-96            Q4-96        1996-Total



Ratios
 EBITDA/Sales                                           20.2%                                15.8%          15.1%            17.1%
 Operating Income (EBIT)/Sales                          14.0%                                 9.0%            8.6%           10.6%
 Earnings after Interest and Financial Items/Sales      10.6%                                 5.0%            5.6%            7.1%
 Interest Net/Sales
 Net Income after Tax/Sales                              7.8%                                 4.7%            4.0%            5.5%
 Cash Flow/Sales                                                                                                             14.3%


 Tax/Net Income after Tax + Tax                         16.4%                                18.6%          27.0%            19.9%
 Sales/Employees (thousand)                                  69.7                              63.4           71.9            200.9
 Capital Expenditures/Sales                              9.6%                                13.8%          11.7%            11.7%
 R&D/Sales                                                                                                                    0.8%
 Payroll Costs/Sales                                                                                                         18.8%
 Payroll Costs/Employees                                                                                                        0.0


 Current Assets/Current Liabilities                     95.5%               95.9%            97.1%          91.5%            91.5%
 Shareholders' Equity/Total Assets                      20.8%               21.3%            22.0%          22.0%            22.0%
 Current Assets/Total Assets                            32.1%               30.8%            29.5%          28.7%            28.7%
 Current Liabilities/Long-term Debt                    117.9%               110.4%           102.2%        114.5%            114.5%
 Long-term Debt/Total Assets                            28.5%               29.1%            29.7%          27.4%            27.4%
 Net Income after Tax/Total Assets                       2.0%                                 1.1%            1.0%            4.2%
 Net Income after Tax/Shareholders Equity                9.7%                                 5.2%            4.8%           19.1%




                                                                                                         SPPR Quarterly Financial Database
                                                Key Ratios



  UPM-Kymmene Corporation
UPM - Kymmene CorporationQ2-97                                      Q3-97            Q4-97            1997-Total     Q1-98

                                                      Q1-97            Q2-97            Q3-97            Q4-97        1997-Total



Ratios
 EBITDA/Sales                                           20.1%               25.5%            20.0%          18.2%            21.0%
 Operating Income (EBIT)/Sales                          13.8%               19.7%            13.8%          11.7%            14.8%
 Earnings after Interest and Financial Items/Sales      10.5%               17.2%            11.0%            8.3%           11.8%
 Interest Net/Sales
 Net Income after Tax/Sales                              8.8%               12.0%             8.4%            5.3%            8.3%
 Cash Flow/Sales                                                                                                             12.8%


 Tax/Net Income after Tax + Tax                         14.3%               26.8%            16.9%          24.8%            24.7%
 Sales/Employees (thousand)                                  51.4             62.5             48.4           63.1           224.5
 Capital Expenditures/Sales                             10.5%               10.3%             7.0%            6.6%            8.7%
 R&D/Sales                                                                                                                    0.4%
 Payroll Costs/Sales                                                                                                         15.5%
 Payroll Costs/Employees                                                                                                        0.0


 Current Assets/Current Liabilities                     97.0%               103.5%           102.7%         96.8%            96.8%
 Shareholders' Equity/Total Assets                      22.4%               25.6%            27.9%          39.8%            39.8%
 Current Assets/Total Assets                            33.1%               29.0%            26.8%          25.2%            25.2%
 Current Liabilities/Long-term Debt                    136.3%               101.8%           97.2%          78.8%            78.8%
 Long-term Debt/Total Assets                            25.0%               27.5%            26.9%          33.0%            33.0%
 Net Income after Tax/Total Assets                       1.6%                2.4%             1.5%            1.0%            6.2%
 Net Income after Tax/Shareholders Equity                7.2%                9.5%             5.4%            2.5%           15.6%




                                                                                                         SPPR Quarterly Financial Database
                                                Key Ratios



  UPM-Kymmene Corporation
UPM - Kymmene CorporationQ2-98                                      Q3-98           Q4-98            1998-Total     Q1-99

                                                      Q1-98            Q2-98           Q3-98            Q4-98        1998-Total



Ratios
 EBITDA/Sales                                           25.0%               36.4%           27.0%          18.2%            26.7%
 Operating Income (EBIT)/Sales                          18.0%               29.7%           19.4%          10.0%            19.7%
 Earnings after Interest and Financial Items/Sales      15.1%               28.6%           16.6%            8.0%           17.2%
 Interest Net/Sales
 Net Income after Tax/Sales                             11.2%               20.2%           11.1%            6.4%           12.3%
 Cash Flow/Sales

 Tax/Net Income after Tax + Tax                         26.0%               29.3%           33.1%          19.4%            28.3%
 Sales/Employees (thousand)                                  62.1            61.0             60.2           63.4            241.4
 Capital Expenditures/Sales                             11.9%               6.4%             6.4%            0.9%            6.5%
 R&D/Sales
 Payroll Costs/Sales
 Payroll Costs/Employees

 Current Assets/Current Liabilities                     80.8%               96.7%           91.3%         111.1%            111.1%
 Shareholders' Equity/Total Assets                      38.6%               41.7%           43.8%          46.4%            46.4%
 Current Assets/Total Assets                            25.8%               26.6%           25.5%          23.1%            23.1%
 Current Liabilities/Long-term Debt                    112.3%               92.4%           103.5%         65.7%            65.7%
 Long-term Debt/Total Assets                            28.4%               29.7%           27.0%          31.7%            31.7%
 Net Income after Tax/Total Assets                       2.0%               3.6%             1.9%            1.2%            9.0%
 Net Income after Tax/Shareholders Equity                5.2%               8.8%             4.3%            2.5%           19.4%




                                                                                                        SPPR Quarterly Financial Database
                                                Key Ratios



  UPM-Kymmene Corporation
UPM - Kymmene CorporationQ2-99                                      Q3-99

                                                      Q1-99            Q2-99         Q3-99      Q4-99        1999-Total



Ratios
 EBITDA/Sales                                           22.5%               21.0%      23.7%       37.0%           26.5%
 Operating Income (EBIT)/Sales                          14.9%               13.5%      16.3%       29.8%           19.1%
 Earnings after Interest and Financial Items/Sales      12.5%               11.3%      14.1%       27.9%           16.9%
 Interest Net/Sales
 Net Income after Tax/Sales                              8.6%                7.5%      10.7%       19.9%           12.0%
 Cash Flow/Sales                                                                                                   15.3%


 Tax/Net Income after Tax + Tax                         31.1%               33.9%      23.9%       28.6%           28.9%
 Sales/Employees (thousand)                                  60.3             60.7       62.9        74.5           256.0
 Capital Expenditures/Sales                              6.4%               14.1%       0.5%         5.8%            6.6%
 R&D/Sales
 Payroll Costs/Sales
 Payroll Costs/Employees

 Current Assets/Current Liabilities                    107.7%               107.7%    110.1%      129.5%          129.5%
 Shareholders' Equity/Total Assets                      43.2%               43.2%      47.5%       47.8%           47.8%
 Current Assets/Total Assets                            25.1%               25.1%      23.6%       24.5%           24.5%
 Current Liabilities/Long-term Debt                     72.0%               72.0%      71.9%       59.0%           59.0%
 Long-term Debt/Total Assets                            32.4%               32.4%      29.8%       32.1%           32.1%
 Net Income after Tax/Total Assets                       1.5%                1.3%       2.0%         4.0%            8.6%
 Net Income after Tax/Shareholders Equity                3.4%                3.0%       4.1%         8.3%          18.0%




                                                                                                SPPR Quarterly Financial Database
                                              Common Share



 UPM-Kymmene Corporation
                                                    Q1-91    Q2-91   Q3-91   Q4-91        1991 Total
FIM

Common Share
Market Price Range:
  -High
  -Low
  -Close                                                                                         6.883
Net Income per Share                                                                              -2.13
Dividend Paid per Share                                                                           0.11
Price/Earnings                                                                                     -3.2
Yield (%)                                                                                         1.5%
Payout Ratio (%)                                                                                 -4.9%
Book Value                                                                                        11.8
Trading Volume (Total, million)
Number of Shares at End of Period (Million)                                                   249.387
Market Capitalization (Million)                                                                 1716.5
Number of Shareholders




                                                                             SPPR Quarterly Financial Database
                                              Common Share



 UPM-Kymmene Corporation
                                                    Q1-92*   Q2-92   Q3-92*   Q4-92*       1992 Total
FIM

Common Share
Market Price Range:
  -High
  -Low
  -Close                                                                                          7.152
Net Income per Share                                                                               -1.63
Dividend Paid per Share                                                                            0.06
Price/Earnings                                                                                      -4.4
Yield (%)                                                                                          0.8%
Payout Ratio (%)                                                                                  -3.7%
Book Value                                                                                         11.0
Trading Volume (Total, million)
Number of Shares at End of Period (Million)                                                    249.601
Market Capitalization (Million)                                                                  1785.1
Number of Shareholders




                                                                              SPPR Quarterly Financial Database
                                              Common Share



 UPM-Kymmene Corporation
                                                    Q1-93    Q2-93   Q3-93   Q4-93        1993 Total
FIM

Common Share
Market Price Range:
  -High
  -Low
  -Close                                                                                        13.978
Net Income per Share                                                                              -0.19
Dividend Paid per Share                                                                           0.14
Price/Earnings                                                                                    -72.6
Yield (%)                                                                                         1.0%
Payout Ratio (%)                                                                                -73.9%
Book Value                                                                                        10.8
Trading Volume (Total, million)
Number of Shares at End of Period (Million)                                                   258.120
Market Capitalization (Million)                                                                 3608.0
Number of Shareholders




                                                                             SPPR Quarterly Financial Database
                                              Common Share



 UPM-Kymmene Corporation
                                                    Q1-94    Q2-94   Q3-94   Q4-94        1994 Total
FIM

Common Share
Market Price Range:
  -High
  -Low
  -Close                                                                                        14.210
Net Income per Share                                                                              1.63
Dividend Paid per Share                                                                           0.35
Price/Earnings                                                                                      8.7
Yield (%)                                                                                         2.5%
Payout Ratio (%)                                                                                21.8%
Book Value                                                                                        12.1
Trading Volume (Total, million)
Number of Shares at End of Period (Million)                                                   262.587
Market Capitalization (Million)                                                                 3731.2
Number of Shareholders




                                                                             SPPR Quarterly Financial Database
                                              Common Share



 UPM-Kymmene Corporation
                                                    Q1-95      Q2-95   Q3-95   Q4-95        1995 Total
FIM

Common Share
Market Price Range:
  -High
  -Low
  -Close                                                                                          14.544
Net Income per Share                                    1.23                                        3.56
Dividend Paid per Share                                                                             0.80
Price/Earnings                                                                                        4.1
Yield (%)                                                                                           5.5%
Payout Ratio (%)                                                                                  22.4%
Book Value                                                                                          15.9
Trading Volume (Total, million)
Number of Shares at End of Period (Million)                                                     267.377
Market Capitalization (Million)                                                                   3888.6
Number of Shareholders




                                                                               SPPR Quarterly Financial Database
                                              Common Share



 UPM-Kymmene Corporation
                                                    Q1-96      Q2-96   Q3-96      Q4-96        1996-Total
FIM

Common Share
Market Price Range:
  -High
  -Low
  -Close                                                                 17.194      16.775          16.675
Net Income per Share                                    0.87               0.54        0.39            1.78
Dividend Paid per Share                                                                                0.78
Price/Earnings                                                             32.0        43.2              9.4
Yield (%)                                                                                              4.7%
Payout Ratio (%)                                                                                     43.9%
Book Value                                                                                             16.8
Trading Volume (Total, million)                                                                      73.187
Number of Shares at End of Period (Million)                                                        267.374
Market Capitalization (Million)                                                                      4458.3
Number of Shareholders                                                                               62979




                                                                                  SPPR Quarterly Financial Database
                                              Common Share



 UPM-Kymmene Corporation
                                                    Q1-97      Q2-97      Q3-97      Q4-97        1997-Total
FIM

Common Share
Market Price Range:
  -High                                               21.086     21.330     25.983                      25.990
  -Low                                                16.260                                            16.031
  -Close                                              18.811     20.477     25.403
Net Income per Share                                    0.72       1.03       0.60        0.30            2.65
Dividend Paid per Share                                18.87                                              0.94
Price/Earnings                                          26.0       19.9       42.1
Yield (%)                                             100.3%
Payout Ratio (%)                                     2610.3%                                            35.4%
Book Value                                              17.4       17.6       18.1        16.4            16.6
Trading Volume (Total, million)                                                                       151.054
Number of Shares at End of Period (Million)                                                           270.844
Market Capitalization (Million)
Number of Shareholders                                                                                  59376




                                                                                     SPPR Quarterly Financial Database
                                              Common Share



 UPM-Kymmene Corporation
                                                    Q1-98      Q2-98      Q3-98      Q4-98        1998-Total
FIM

Common Share
Market Price Range:
  -High                                               26.691     28.992                                 29.034
  -Low                                                17.182                            16.726          16.686
  -Close                                              23.855     25.160
Net Income per Share                                    0.87       1.57       0.83        0.51            3.79
Dividend Paid per Share                                                                                   1.08
Price/Earnings                                          27.3       16.0
Yield (%)
Payout Ratio (%)                                                                                        28.6%
Book Value                                              16.3       17.6       18.3        18.9            18.8
Trading Volume (Total, million)                                                                       147.035
Number of Shares at End of Period (Million)          270.389    273.001    277.606    264.884         264.884
Market Capitalization (Million)                       6450.1     6868.7
Number of Shareholders




                                                                                     SPPR Quarterly Financial Database
                                              Common Share



 UPM-Kymmene Corporation
                                                    Q1-99      Q2-99      Q3-99      Q4-99        1999-Total
FIM

Common Share
Market Price Range:
  -High                                               27.500                36.497                      42.500
  -Low                                                22.001                                            22.000
  -Close                                                                                                40.000
Net Income per Share                                    0.63       0.56       0.82        1.76            3.77
Dividend Paid per Share                                                                                   1.25
Price/Earnings                                                                                            10.6
Yield (%)                                                                                                 3.1%
Payout Ratio (%)                                                                                        33.2%
Book Value                                              18.6                  19.9        20.5            20.5
Trading Volume (Total, million)                                                                       158.437
Number of Shares at End of Period (Million)          264.844               263.526    259.031         259.031
Market Capitalization (Million)                                                                       10361.2
Number of Shareholders                                                                                  52140




                                                                                     SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91                   Q2-91              Q3-91      Q4-91      1991 Total    Q1-92*

                                   Q1-91       Q2-91      Q3-91      Q4-91        1991 Total
 (EUR, million)

Other Figures
 Number of Employees                                                                     50059


 Payroll Costs
 R&D Costs
 Exports
 Sales Abroad                                                                            4853.1




                                                                     SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91                   Q2-92              Q3-92*     Q4-92*      1992 Total    Q1-93

                                   Q1-92*      Q2-92      Q3-92*      Q4-92*       1992 Total
 (EUR, million)

Other Figures
 Number of Employees                                                                     44479


 Payroll Costs
 R&D Costs
 Exports
 Sales Abroad                                                                            5018.2




                                                                      SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91                   Q2-93              Q3-93      Q4-93      1993 Total    Q1-94

                                   Q1-93       Q2-93      Q3-93      Q4-93        1993 Total
 (EUR, million)

Other Figures
 Number of Employees                                                                    44149


 Payroll Costs
 R&D Costs
 Exports
 Sales Abroad                                                                           6160.7




                                                                     SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91                   Q2-94              Q3-94      Q4-94      1994 Total    Q1-95

                                   Q1-94       Q2-94      Q3-94      Q4-94        1994 Total
 (EUR, million)

Other Figures
 Number of Employees                                                                    44929


 Payroll Costs
 R&D Costs                                                                                55.7
 Exports
 Sales Abroad                                                                           6772.6




                                                                     SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91                   Q2-95                Q3-95      Q4-95           1995 Total    Q1-96

                                   Q1-95         Q2-95      Q3-95           Q4-95        1995 Total
 (EUR, million)

Other Figures
 Number of Employees                  44970                      46169                         45732


 Payroll Costs                                                                                 1681.9
 R&D Costs                                                                                       65.0
 Exports
 Sales Abroad                                                                                  8460.3




                                                                            SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91                   Q2-96                Q3-96           Q4-96           1996-Total     Q1-97

                                   Q1-96         Q2-96           Q3-96           Q4-96        1996-Total
 (EUR, million)

Other Figures
 Number of Employees                  44450           46914           44743          43636           44808


 Payroll Costs                                                                                       1692.5
 R&D Costs                                                                                             69.8
 Exports
 Sales Abroad                                                                                        7612.8




                                                                                 SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91                   Q2-97                Q3-97           Q4-97           1997-Total     Q1-98

                                   Q1-97         Q2-97           Q3-97           Q4-97        1997-Total
 (EUR, million)

Other Figures
 Number of Employees                  44073           36432           39844          33814           38286


 Payroll Costs                                                                                       1328.5
 R&D Costs                                                                                             35.6
 Exports
 Sales Abroad                                                                                        7325.4




                                                                                 SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91                   Q2-98                Q3-98           Q4-98           1998-Total     Q1-99

                                   Q1-98         Q2-98           Q3-98           Q4-98        1998-Total
 (EUR, million)

Other Figures
 Number of Employees                  34059           34936           33190          32351           34382


 Payroll Costs
 R&D Costs
 Exports                                                                                             4534.9
 Sales Abroad                                                                                        7162.0




                                                                                 SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91                   Q2-99                Q3-99

                                   Q1-99         Q2-99        Q3-99     Q4-99        1999-Total
 (EUR, million)

Other Figures
 Number of Employees                  31887           32564     32648      30963           32269


 Payroll Costs
 R&D Costs
 Exports                                                                                   4873.0
 Sales Abroad                                                                              7165.0




                                                                        SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91

                                   Q1-00      Q2-00     Q3-00     Q4-00        2000-Total
 (EUR, million)

Other Figures
 Number of Employees                  31113     34298     32505      32755           32755


 Payroll Costs
 R&D Costs
 Exports                                                                             5216.0
 Sales Abroad                                                                        8563.0




                                                                  SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91

                                   Q1-01      Q2-01     Q3-01     Q4-01        2001-Total
 (EUR, million)

Other Figures
 Number of Employees                  33378     36563     34459      36298           34463


 Payroll Costs
 R&D Costs                                                                             45.0
 Exports
 Sales Abroad                                                                        8944.0




                                                                  SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91

                                   Q1-02      Q2-02     Q3-02     Q4-02        2002-Total
 (EUR, million)

Other Figures
 Number of Employees                  36214     39167     36283      35579           36866


 Payroll Costs
 R&D Costs                                                                             46.0
 Exports
 Sales Abroad




                                                                  SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91

                                   Q1-03      Q2-03     Q3-03     Q4-03        2003-Total
 (EUR, million)

Other Figures
 Number of Employees                  35320     36049     36124      34482           35751


 Payroll Costs
 R&D Costs
 Exports
 Sales Abroad




                                                                  SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91

                                   Q1-04      Q2-04     Q3-04     Q4-04        2004-Total
 (EUR, million)

Other Figures
 Number of Employees                  34403     35135     35224      33433           34815


 Payroll Costs
 R&D Costs
 Exports
 Sales Abroad




                                                                  SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91

                                   Q1-05      Q2-05     Q3-05     Q4-05        2005-Total
 (EUR, million)

Other Figures
 Number of Employees                  32972     33544     33518      31522           32949


 Payroll Costs
 R&D Costs
 Exports
 Sales Abroad




                                                                  SPPR Quarterly Financial Database
                            Other Figures



  UPM-Kymmene Corporation
UPM - Kymmene Corporation
 Q1-91

                                Q1-06       Q2-06     Q3-06     Change from
 (EUR, million)                                                 Prior Period

Other Figures
 Number of Employees              31323       31730     31643            -87


 Payroll Costs
 R&D Costs
 Exports
 Sales Abroad




                                                                SPPR Quarterly Financial Database
                                     Company Information



 UPM-Kymmene Corporation

Headoffice:           UPM-Kymmene Corporation
                      Eteläesplanadi 2                          Phone:      (0358) 204 15 111
                      FIN-00101 Helsinki                        Fax:        (0358) 204 15 110
                                                                E-Mail:
                      FINLAND                                   Homepage:   http://www.upm-kymmene.com


Investor Relations    UPM-Kymmene Group
Contact:              Investor Relations                        Phone:      (0358) 204 15 111
                                                                Fax:        (0358) 204 15 110
                                                                E-Mail:




                                           Directors and Officers:

                             Chairman of the Board of Directors: Vesa Vainio
                          President and Chief Executive Officer: Jussi Pesonen
                 Executive President and Chief Financial Officer: Kari Toikka




                                                                                    SPPR Quarterly Financial Database
                                                    Chartwatch



UPM-Kymmene Corporation
Sales                                                                                          (EUR, million)

                                                                                             UPM-Kymmene
                               Sales
                          Q1-94 to Q3-2006

3000

2500

2000

1500

1000

 500

   0
        Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3

          1994    1995     1996    1997       1998     1999      2000   2001   2002   2003        2004     2005     2006



EBITDA                                                                                         (EUR, million)

                                                                                             UPM-Kymmene
                              EBITDA
                          Q1-94 to Q3-2006

900
800
700
600
500
400
300
200
100
  0
       Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3

         1994    1995     1996    1997       1998      1999      2000   2001   2002   2003       2004      2005     2006



Operating Earnings                                                                             (EUR, million)

                                                                                             UPM-Kymmene
                         Operating Earnings
                          Q1-94 to Q3-2006

800
700
600
500
400
300
200
100
  0
       Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3

         1994    1995     1996    1997       1998      1999      2000   2001   2002   2003       2004      2005     2006



EBITDA % of Sales

                         EBITDA % of Sales                                                   NA Index




                                                                                                    SPPR Quarterly Financial Database
                                                  Chartwatch


                       EBITDA % of Sales                                                   NA Index

                        Q1-94 to Q3-2006                                                   European Index

40%                                                                                        UPM-Kymmene

35%
30%
25%
20%
15%
10%
 5%
 0%
      Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3

        1994    1995    1996    1997       1998      1999      2000   2001   2002   2003        2004        2005   2006



Operating Earnings % of Sales

                Operating Earnings % of Sales                                              NA Index

                      Q1-94 to Q3-2006                                                     European Index

35%                                                                                        UPM-Kymmene

30%
25%
20%
15%
10%
 5%
 0%
      Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3

        1994    1995    1996    1997       1998      1999      2000   2001   2002   2003        2004        2005   2006




                                                                                                  SPPR Quarterly Financial Database
Chartwatch




             SPPR Quarterly Financial Database
Chartwatch




             SPPR Quarterly Financial Database
Chartwatch




             SPPR Quarterly Financial Database
Chartwatch




             SPPR Quarterly Financial Database
                                                        Market Pulp



 UPM-Kymmene - Market Pulp
                                         Q2-05              Q3-05     Q4-05        2005-Total      Q1-06            Q2-06         Q3-06
(EUR, million)
Market Pulp
Sales
EBITDA
Depreciation
Operating Earnings
Capital Expenditures
Number of Employees
Identifiable Assets
EBITDA/Sales (%)
Depreciation/Sales (%)
Operating Earnings/Sales (%)
Capital Expenditures/Sales (%)
Sales/Employees (thousand)
Identifiable Assets/Sales (%)

Shipments
(Metric Tons, thousand)
Chemical Pulp Production                       237            516            539          1840        544             498           506




                                Market Pulp                                                           Market Pulp Index
                       Operating Earnings % of Sales
                             Q1-94 to Q3-2006                                                         UPM-Kymmene - Market Pulp
  80%

  60%

  40%

  20%

   0%
          Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3
 -20%
             1994      1995      1996   1997         1998     1999    2000         2001     2002   2003      2004         2005   2006

 -40%




                                                                                                                SPPR Quarterly Financial Database
                                                  Publication Paper



 UPM-Kymmene - Publication Paper
                                         Q2-05           Q3-05    Q4-05    2005-Total       Q1-06            Q2-06      Q3-06
(EUR, million)
Publication Paper
Sales                                      1011           1023      1316           4399       1116            1168         1221
EBITDA                                      113            230       248            780        185             231          253
Depreciation                                150            151       156            603        144             144          139
Operating Earnings                          -37             79        92            177         41              87          114
Capital Expenditures
Number of Employees
Identifiable Assets
EBITDA/Sales (%)                          11.2%          22.5%     18.8%          17.7%     16.6%            19.8%       20.7%
Depreciation/Sales (%)                    14.8%          14.8%     11.9%          13.7%     12.9%            12.3%       11.4%
Operating Earnings/Sales (%)              -3.7%           7.7%      7.0%           4.0%      3.7%             7.4%        9.3%
Capital Expenditures/Sales (%)
Sales/Employees (thousand)
Identifiable Assets/Sales (%)

Shipments
(Metric Tons, thousand)
Total Publication Papers                   1651           1641      2044           7078       1752            1808         1893
Newsprint                                   631            593       736           2592        654             660          666
Magazine Paper                             1020           1048      1308           4486       1098            1148         1227



                            Publication Paper                                               Publication Paper Index
                       Operating Earnings % of Sales
                             Q1-94 to Q3-2006                                               UPM-Kymmene - Publication Paper
  30%
  25%
  20%
  15%
  10%
   5%
   0%
  -5%     Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3

 -10%        1994      1995      1996   1997      1998     1999   2000     2001      2002   2003      2004       2005   2006




                                                                                                        SPPR Quarterly Financial Database
                                                            Fine Paper



 UPM-Kymmene - Fine Paper
                                         Q2-05               Q3-05        Q4-05       2005-Total       Q1-06            Q2-06        Q3-06
(EUR, million)
Fine Paper
Sales                                          495             576              629           2237        640             627           626
EBITDA                                          34              93               91            312         82              76           106
Depreciation                                    51              56               60            216         55              53            54
Operating Earnings                             -17
                                               495              37
                                                               576               31
                                                                                629             96
                                                                                              2237         27
                                                                                                          640              23
                                                                                                                          627            52
                                                                                                                                        626
Capital Expenditures
Number of Employees
Identifiable Assets                        495.0              576.0        629.0             2237.0      640.0           627.0         626.0
EBITDA/Sales (%)                           6.9%              16.1%        14.5%              13.9%      12.8%           12.1%         16.9%
Depreciation/Sales (%)                    10.3%               9.7%         9.5%               9.7%       8.6%            8.5%          8.6%
Operating Earnings/Sales (%)              -3.4%               6.4%         4.9%               4.3%       4.2%            3.7%          8.3%
Capital Expenditures/Sales (%)
Sales/Employees (thousand)
Identifiable Assets/Sales (%)

Shipments
(Metric Tons, thousand)
Fine Papers                                    684             793              863           3060        881             884           878




                                Fine Paper                                                                Fine Paper Index
                       Operating Earnings % of Sales
                             Q1-94 to Q3-2006                                                             UPM-Kymmene - Fine Paper
 30%

 25%

 20%

 15%

 10%

  5%

  0%
        Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3
 -5%
            1994       1995      1996   1997         1998      1999      2000         2001      2002   2003      2004        2005    2006




                                                                                                                   SPPR Quarterly Financial Database
                                          Lumber and Forest Products



 UPM-Kymmene - Lumber and Forest Products
                                         Q2-05              Q3-05     Q4-05        2005-Total          Q1-06             Q2-06       Q3-06
(EUR, million)
Lumber and Forest Products
Sales                                     341.0              301.0      332.0             1286.0         346.0            378.0          378.0
EBITDA                                     25.0                8.0       22.0               81.0          25.0             33.0           22.0
Depreciation                               12.0               11.0       13.0               48.0          11.0             11.0           11.0
Operating Earnings                         13.0               -3.0        9.0               33.0          14.0             22.0           11.0
Capital Expenditures
Number of Employees
Identifiable Assets
EBITDA/Sales (%)                           7.3%              2.7%       6.6%               6.3%           7.2%            8.7%           5.8%
Depreciation/Sales (%)                     3.5%              3.7%       3.9%               3.7%           3.2%            2.9%           2.9%
Operating Earnings/Sales (%)               3.8%             -1.0%       2.7%               2.6%           4.0%            5.8%           2.9%
Capital Expenditures/Sales (%)
Sales/Employees (thousand)
Identifiable Assets/Sales (%)

Shipments
(Metric Tons, thousand)
Sawn Goods (Cubic Meter, thousand)             455            475            592           2017            556             581            486
Plywood (Cubic Meter, thousand)                259            199            263            968            248             239            209




                        Lumber and Forest Products                                            Lumber and Forest Products Index
                       Operating Earnings % of Sales
                             Q1-94 to Q3-2006                                                 UPM-Kymmene - Lumber and Forest Products
  25%

  20%

  15%

  10%

   5%

   0%
          Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3
  -5%
             1994      1995      1996   1997         1998      1999   2000         2001      2002      2003       2004       2005    2006
 -10%




                                                                                                                     SPPR Quarterly Financial Database
                                    SPPR Info



UPM-Kymmene Corporation

    Our Office:            Scandinavian Pulp & Paper Reports
                           a / Stein B. Ellingsen
                           Bergveien 37
                           1450 Nesoddtangen
                           Norway

    Our Mailing Address:   Scandinavian Pulp & Paper Reports
                           P.O.Box 264
                           1450 Nesoddtangen
                           Norway

    Phone:                 (+47) 66917320
    Fax:                   (+47) 66917311
    E-mail:                mailto:sppr@sppr.no

    Go to Our Homepage:    http://www.sppr.no/




                                                               SPPR Quarterly Financial Database
                                              Navigation Tip



  UPM-Kymmene Corporation
When you open a excel-workbook the opening sheet will be displayed:
  The opening sheet has a table of contents / index with the available information for the actual company.

The userinterface in the excel-workbooks is just as in a internet-browser:
  When the mouse-cursor changes to a hand - click once to display the information
  and you will automaticly be forwarded to the work-sheet with that part of information.
  Use the top green bar with the company name on it, as your back button.

Remember always to choose to open the excel-workbooks with
macros active - if you are asked.
  If you don't you will not be able to navigate as described abowe, and forced to navigate using
  the worksheet-tabs.

  Do not change the number of panes on any worksheets, it will also disfunction the navigation macros.




                                                                                           SPPR Quarterly Financial Database
                                                 ch-b


   1991                                                             1992
    Q1              Q2               Q3                 Q4           Q1       Q2                 Q3
UPM-Kymmene

NA Index
       3.5%              2.0%             3.4%           -0.4%         4.2%        4.6%               4.6%
European Index
       5.2%                               1.4%               8.0%      4.7%        5.1%               2.6%
ROW Index

Total Paper Index
        3.5%             2.0%             3.3%           -0.2%         4.2%        4.7%               4.4%




Sales


EBITDA


Operating Earnings


EBITDA % of Sales


Operating Earnings % of Sales


NA Index - EBITDA
       3.5%          2.0%                 4.9%           -0.1%         6.9%        7.4%               7.1%
European Index - EBITDA
      11.7%                               8.4%           14.2%        12.1%        5.9%             10.5%


Market Pulp Index               Operating Earnings/Sales
                                                                       0.9%    -0.2%                 -0.2%

Market Pulp Index               EBITDA/Sales


                        O
UPM-Kymmene - Market Pulp perating Earnings/Sales


                        E
UPM-Kymmene - Market Pulp BITDA/Sales




                                                                                    SPPR Quarterly Financial Database
                                         ch-b




Publication Paper Index   Operating Earnings/Sales
                                  -2.5%                 -27.2%   -27.7%           -18.8%

Publication Paper Index   EBITDA/Sales


                         Operating
UPM-Kymmene - Publication Paper Earnings/Sales


                         EBITDA/Sales
UPM-Kymmene - Publication Paper




Fine Paper Index          Operating Earnings/Sales
                                                -1.4%    -0.1%    -1.6%              0.5%

Fine Paper Index          EBITDA/Sales


UPM-Kymmene - Fine PaperOperating Earnings/Sales


UPM-Kymmene - Fine PaperEBITDA/Sales




                         Operating
Lumber and Forest Products Index Earnings/Sales
                    9.0%         6.6%         6.7%      11.9%    10.8%             11.4%

                         EBITDA/Sales
Lumber and Forest Products Index


                       Operating Earnings/Sales
UPM-Kymmene - Lumber and Forest Products


                       EBITDA/Sales
UPM-Kymmene - Lumber and Forest Products




                                                                   SPPR Quarterly Financial Database
                                        ch-b




Packaging Grades Index   Operating Earnings/Sales
                                                4.7%   8.1%   8.4%               5.2%

Packaging Grades Index   EBITDA/Sales
                                               9.9%    3.5%   1.7%              -0.5%

                        Grades
UPM-Kymmene - Packaging Operating Earnings/Sales


                        Grades
UPM-Kymmene - Packaging EBITDA/Sales




                                                               SPPR Quarterly Financial Database
                                  ch-b


            1993                                                 1994
Q4           Q1       Q2                 Q3          Q4           Q1                 Q2



     0.3%      6.4%        6.1%               3.9%        4.5%      6.2%                  6.5%

     4.9%      6.7%        5.5%               6.8%        5.4%      8.5%                  5.8%



     1.0%      6.4%        6.0%               4.4%        4.7%      6.8%                  6.3%




     3.6%     10.6%    10.9%                  8.7%        9.2%     10.5%                11.9%

     9.3%     13.4%        8.5%           13.6%           9.0%     12.6%                  9.4%



 36.2%        -9.3%   -10.1%             -14.1%      -16.9%        -6.5%                  0.7%


                                                                    0.0%                  0.7%




                                                                        SPPR Quarterly Financial Database
                         ch-b




-18.9%   -5.4%   -0.9%          0.2%    0.2%    -1.3%               2.8%




 -8.1%   -3.8%   -2.2%          -1.0%   -2.9%   -1.6%              -1.0%


                                                0.1%                0.1%




 8.7%    17.4%   14.3%          11.9%   15.2%   15.2%             15.0%




                                                  SPPR Quarterly Financial Database
                     ch-b




6.7%   7.1%   6.9%          7.3%   6.6%   9.8%               8.7%


1.5%   0.6%   0.7%          0.2%   0.9%   1.4%               1.9%




                                           SPPR Quarterly Financial Database
                                  ch-b


                        1995                                                       1996
Q3          Q4           Q1              Q2          Q3          Q4                 Q1

                          15.4%                       17.8%       13.3%                14.0%

     7.7%    10.5%        12.9%           14.3%       15.5%       12.4%                  9.9%

     9.9%        8.8%     14.8%           10.9%       16.7%       11.7%                11.3%

                                          14.3%                   16.1%                12.3%

     8.2%        9.8%     13.6%           13.0%       15.9%       12.3%                10.4%




                          21.2%                       23.5%       19.1%                20.2%


                          15.4%                       17.8%       13.3%                14.0%


 11.5%       13.2%        17.5%           18.0%       19.8%       16.4%                15.0%

 13.9%       12.5%        18.8%           12.9%       20.5%       14.6%                17.4%



     4.5%    13.2%        23.9%           20.5%       29.7%       23.1%                 -1.1%


     1.9%        0.0%      3.6%               5.9%        5.2%        2.2%               1.7%


                          35.4%                       38.3%       36.2%                13.7%




                                                                       SPPR Quarterly Financial Database
                        ch-b




4.1%    3.5%    12.9%          19.8%   22.4%   26.3%             24.7%


                5.0%                   7.1%    8.7%              13.6%


                                                                 22.0%


                                                                 27.9%




4.9%    10.9%   17.5%          21.3%   23.7%   17.8%               9.6%


0.1%    0.2%    0.2%           0.2%    0.0%    0.0%                0.7%




14.8%   17.0%   13.4%          11.6%   11.6%   9.9%                6.5%




                9.9%                   2.4%    -6.1%               1.0%




                                                 SPPR Quarterly Financial Database
                        ch-b




11.2%   10.7%   16.2%          15.3%   15.8%   10.9%             12.3%


2.1%    1.9%    2.0%           2.0%    1.7%    4.2%                1.6%




                                                 SPPR Quarterly Financial Database
                                    ch-b


                                       1997
Q2          Q3          Q4              Q1          Q2          Q3                 Q4

                 9.0%        8.6%          13.8%     19.7%       13.8%                11.7%

     7.8%        8.2%        6.1%           5.5%         6.2%        6.7%               6.0%

     5.9%        7.2%        6.8%           8.4%         7.5%        9.7%               8.6%

     0.4%    14.0%           0.5%          13.8%         0.6%    15.3%                16.7%

     2.3%        8.2%        2.3%           6.8%         2.6%        8.0%               8.2%




                                           2263.6    2275.3      1929.3               2132.1


                                            456.0     579.3       385.5                389.1


                                            313.3     449.1       266.8                248.5


             15.8%       15.1%             20.1%     25.5%       20.0%                18.2%


                 9.0%        8.6%          13.8%     19.7%       13.8%                11.7%


 13.1%       13.5%       11.3%             11.3%     11.6%       11.9%                10.9%

     8.9%    13.9%       10.9%             11.9%     10.7%       13.0%                12.3%



-12.5%       -7.4%           0.6%          -3.7%         4.1%    14.9%                21.6%


 -0.7%           3.3%        4.7%           3.4%         0.2%        3.4%             15.9%


            -23.7%       -7.7%             -6.3%     -4.9%       26.5%                17.3%




                                                                      SPPR Quarterly Financial Database
                        ch-b




21.3%   18.1%   9.0%           6.0%    9.8%    13.1%             12.3%


        11.6%   8.0%           11.8%   14.7%   17.3%             17.8%


20.4%   22.1%   9.8%           5.3%    7.5%    11.0%             14.2%


        28.5%   16.3%          11.6%   13.4%   17.5%             21.2%




5.9%    4.4%    4.6%           5.9%    6.7%    5.9%                8.4%


2.0%    0.6%    0.4%           0.9%    1.3%    0.1%                0.6%




9.6%    9.5%    10.5%          11.3%   11.4%   8.2%                5.8%




        0.2%    2.7%           4.5%    9.7%    5.7%              11.4%




                                                 SPPR Quarterly Financial Database
                     ch-b




8.9%   6.8%   3.7%          4.9%   5.5%   5.8%               4.5%


3.9%   2.3%   3.7%          1.3%   4.9%   1.8%               6.0%




                                           SPPR Quarterly Financial Database
                                   ch-b


1998                                                  1999
 Q1        Q2          Q3                 Q4           Q1        Q2                 Q3

  18.0%     29.7%       19.4%              10.0%        14.9%     13.5%                16.3%

   7.0%         7.5%        8.5%               4.5%      8.0%         9.2%             10.4%

  11.6%     10.4%       11.7%                  4.1%      9.7%         8.5%             10.5%

  25.2%     13.8%       20.8%              11.8%        18.6%     15.8%                21.8%

   9.4%         9.2%    10.3%                  5.4%      9.5%     10.0%                11.6%




  2114.6    2132.8      1998.3             2051.2       1924.0    1977.0               2053.1


   528.5     775.5       538.8              373.3        433.0     415.0                486.0


   380.8     632.5       386.8              205.9        287.0     266.0                334.0


  25.0%     36.4%       27.0%              18.2%        22.5%     21.0%                23.7%


  18.0%     29.7%       19.4%              10.0%        14.9%     13.5%                16.3%


  12.6%     13.1%       14.8%              11.2%        14.0%     15.8%                15.9%

  17.5%     15.1%       14.7%              10.6%        16.7%     15.2%                18.3%



   2.9%         6.0%        4.2%           -6.1%        -1.6%         5.4%             16.4%


   5.3%     12.1%       13.5%              12.8%        11.6%     15.1%                16.3%


  23.2%     16.0%       24.3%             -13.6%        -4.8%         3.1%             26.8%




                                                                       SPPR Quarterly Financial Database
                        ch-b




17.1%   15.7%   20.6%          15.0%   14.1%   10.2%             12.4%


25.0%   23.4%   29.6%          21.7%   19.2%   17.0%             19.1%


14.6%   16.1%   19.3%          15.6%   14.0%   10.5%             15.9%


21.6%   22.8%   26.9%          23.8%   21.6%   18.0%             23.3%




11.3%   9.3%    5.9%           5.7%    5.5%    6.5%                9.0%


10.2%   7.0%    6.7%           4.2%    4.3%    4.4%                4.3%


12.2%   11.4%   10.0%          6.4%    11.5%   7.2%                5.1%




7.5%    10.5%   8.0%           8.5%    11.8%   15.7%             17.6%




8.2%    9.1%    4.4%           5.2%    5.0%    5.3%                6.2%




                                                 SPPR Quarterly Financial Database
                     ch-b




6.7%   7.2%   6.5%          1.7%   4.7%   7.6%               9.4%


3.2%   6.2%   2.6%          3.1%   4.3%   6.7%               6.4%




                                           SPPR Quarterly Financial Database
                             ch-b


         2000                                    2001
Q4        Q1       Q2       Q3       Q4           Q1         Q2                  Q3

 29.8%     31.3%    13.8%    18.3%    15.3%        16.1%        14.0%              13.2%

 12.1%     11.0%    11.4%    10.6%        9.7%      6.9%          8.1%                8.2%

 12.2%     16.9%    12.9%    16.8%    12.4%        14.8%        10.0%              11.3%

 19.5%     24.3%    21.7%    25.4%    17.3%        18.7%        13.8%              14.0%

 13.2%     13.8%    13.4%    13.4%    11.6%        10.0%          9.4%                9.4%




2306.9    2237.0   2316.0   2397.9   2632.0       2488.0       2536.0              2336.0


 853.0     808.0    449.0    677.0    604.0        578.0         538.0              491.0


 688.0     701.0    320.0    439.0    404.0        400.0         355.0              309.0


 37.0%     36.1%    19.4%    28.2%    22.9%        23.2%        21.2%              21.0%


 29.8%     31.3%    13.8%    18.3%    15.3%        16.1%        14.0%              13.2%


 23.8%     16.2%    17.4%    17.2%    16.7%        13.4%        14.8%              14.5%

 18.6%     22.5%    18.0%    22.8%    18.3%        21.9%        16.5%              18.9%



 20.0%     27.9%    30.0%    35.6%    30.7%        22.6%        11.5%              11.3%


 14.9%     17.4%    19.0%    18.7%    19.4%        23.2%        13.2%              14.3%


 34.5%     64.4%    57.8%    70.7%    68.1%        70.7%        45.8%              35.2%




                                                           SPPR Quarterly Financial Database
                        ch-b




13.4%   13.6%   15.1%   19.3%   16.3%   16.4%        17.5%              17.0%


18.7%   18.6%   20.3%   23.9%   21.5%   21.2%        24.1%              24.4%


16.0%   16.4%   16.0%   19.9%   15.9%   19.5%        17.9%              18.5%


23.2%   23.0%   22.5%   27.2%   23.5%   26.7%        25.1%              26.3%




11.4%   13.1%   13.4%   13.2%   8.4%    7.3%          5.1%                4.2%


4.3%    4.8%    5.3%    2.2%    2.4%    4.0%          3.3%                2.8%


9.3%    14.4%   12.7%   14.9%   8.0%    15.2%        12.9%              13.5%




17.2%   13.6%   11.0%   6.2%    7.4%    4.6%         10.3%                9.1%




5.1%    5.3%    6.1%    4.5%    3.9%    3.5%          3.4%                1.7%




                                                SPPR Quarterly Financial Database
                       ch-b




8.8%   11.2%   10.4%   12.1%   9.1%   8.4%         9.0%                9.3%


7.5%   6.9%    7.9%    8.0%    8.0%   7.3%         8.4%                7.5%




                                             SPPR Quarterly Financial Database
                                   ch-b


            2002                                          2003
Q4           Q1       Q2          Q3          Q4           Q1         Q2                  Q3

 12.9%        10.7%        9.9%    13.0%           8.4%      7.2%          7.6%                7.4%

     4.5%      5.7%        7.4%        6.7%        5.9%      4.0%          4.7%                6.6%

     8.9%      9.6%        8.2%        9.8%        7.6%      8.0%          6.9%                6.9%

     7.7%     13.6%        9.7%    17.7%       10.3%        14.2%        10.4%              11.1%

     6.3%      7.4%        8.1%        8.4%        7.4%      6.5%          6.5%                7.3%




2558.0       2566.0   2679.0      2613.0      2617.0       2458.0       2501.0              2437.0


 531.0        512.0    495.0       568.0       541.0        379.0         399.0              415.0


 330.0        274.0    265.0       340.0       219.0        178.0         191.0              180.0


 20.8%        20.0%    18.5%       21.7%       20.7%        15.4%        16.0%              17.0%


 12.9%        10.7%        9.9%    13.0%           8.4%      7.2%          7.6%                7.4%


 10.4%        12.4%    13.9%       13.0%       12.6%        11.1%        11.5%              13.1%

 16.7%        17.6%    15.9%       17.8%       16.8%        15.8%        14.9%              15.3%



     8.3%      8.0%        9.0%    18.6%       10.4%        13.0%        14.1%              15.2%


 14.5%        14.9%    12.8%       21.4%       12.9%        20.8%        17.3%              21.4%




                                                                    SPPR Quarterly Financial Database
                        ch-b




12.8%   8.4%    6.1%    7.0%    4.1%    3.2%          1.5%                3.6%


23.1%   18.2%   16.5%   16.8%   15.4%   13.1%        11.4%              13.6%


14.7%   10.5%   9.2%    11.9%           4.4%          4.4%                5.6%


22.5%   19.8%   17.8%   20.6%   12.3%   12.6%        12.7%              15.2%




4.2%    5.0%    3.0%    6.9%    3.0%    5.6%          5.4%                4.3%


0.7%    4.0%    4.6%    3.4%    3.7%    4.1%          3.4%                2.6%


15.2%   15.6%   14.6%   18.1%   10.3%   12.9%         9.9%              11.1%




2.4%    8.8%    11.4%   6.5%    6.4%    5.8%          8.4%              12.2%


                                        0.3%          0.5%                2.0%


-0.3%   2.3%    3.5%    1.4%    2.6%    2.7%          4.2%                0.3%




                                                SPPR Quarterly Financial Database
                     ch-b




7.6%   7.6%   8.2%   8.4%   7.4%   6.4%         6.9%                6.0%


7.9%   7.7%   8.0%   8.1%   8.5%   7.2%         7.8%                6.9%




                                          SPPR Quarterly Financial Database
                                   ch-b


            2004                                          2005
Q4           Q1       Q2          Q3          Q4           Q1         Q2                  Q3

     4.9%      4.1%        3.6%        5.7%        4.2%      7.6%          0.5%                7.0%

     4.6%      6.0%        9.3%        9.6%        5.9%      7.6%          7.9%                5.9%

     5.4%      5.7%        5.6%        5.9%        4.2%      5.8%          4.2%                5.8%

     8.6%     12.9%        9.8%    14.7%           8.5%     12.6%          7.5%             10.2%

     5.7%      6.9%        8.5%        9.4%        6.0%      7.8%          6.8%                6.5%




2552.0       2451.0   2497.0      2449.0      2423.0       2278.0       2253.0              2243.0


 406.0        355.0    349.0       400.0       452.0        398.0         242.0              390.0


 124.0        101.0        91.0    140.0       102.0        173.0          11.0              157.0


 15.9%        14.5%    14.0%       16.3%       18.7%        17.5%        10.7%              17.4%


     4.9%      4.1%        3.6%        5.7%        4.2%      7.6%          0.5%                7.0%


 11.6%        12.5%    15.4%       15.5%       12.2%        13.6%        13.9%              11.3%

 13.9%        13.3%    13.1%       13.9%       12.6%        14.0%        11.6%              13.7%



 11.7%        13.1%    20.0%       18.5%           9.7%     14.6%        12.4%              11.5%


 15.4%        17.8%    22.3%       20.8%       17.0%        21.0%        20.3%              19.3%




                                                                    SPPR Quarterly Financial Database
                        ch-b




1.1%    1.0%    1.2%    3.6%    1.3%    3.0%          2.0%                5.8%


11.7%   11.7%   11.5%   13.2%   11.1%   12.4%        11.1%              14.7%


3.7%    -0.7%   -0.3%   3.4%    -0.4%   4.1%         -3.7%                7.7%


14.7%   15.0%   14.9%   18.3%   13.6%   18.0%        11.2%              22.5%




0.1%    1.6%    3.5%    4.8%    3.1%    4.9%          2.5%                2.4%


2.1%    4.4%    3.4%    4.6%    2.2%    4.5%          3.7%                3.2%


8.2%    8.0%    6.1%    8.1%    5.3%    8.4%         -3.4%                6.4%


        16.3%   14.8%   16.4%   14.5%   17.5%         6.9%              16.1%




14.1%   16.1%   19.8%   17.3%   8.5%    11.7%        11.4%              10.3%


2.3%    2.5%    2.5%    2.8%    1.4%    2.7%          2.3%                2.4%


0.0%    2.3%    3.3%    -0.3%   0.6%    4.5%          3.8%               -1.0%


        5.7%    6.5%    3.4%    4.3%    8.3%          7.3%                2.7%




                                                SPPR Quarterly Financial Database
                     ch-b




4.8%   5.2%   6.5%   8.4%   6.7%   5.7%         5.3%                5.1%


6.6%   6.7%   7.8%   8.0%   7.9%   6.2%         7.5%                6.6%




                                          SPPR Quarterly Financial Database
              ch-b


            2006
Q4           Q1       Q2          Q3

     7.2%      7.5%        3.2%        8.4%

     4.6%      4.9%        6.4%        6.8%

     5.6%      6.4%        5.4%        7.7%

     7.5%     11.7%        7.7%    12.9%

     5.7%      6.3%        6.4%        7.9%




2574.0       2460.0   2484.0      2495.0


 627.0        408.0    435.0       549.0


 186.0        185.0        79.0    209.0


 24.4%        16.6%    17.5%       22.0%


     7.2%      7.5%        3.2%        8.4%


 12.0%        11.1%    12.3%       12.8%

 16.0%        13.9%    13.0%       16.9%



     8.4%     15.1%    14.3%       18.1%


 18.0%        20.6%    20.4%       19.2%




                                              SPPR Quarterly Financial Database
        ch-b




3.6%    4.6%    5.2%    6.9%


14.9%   13.5%   13.9%   15.9%


7.0%    3.7%    7.4%    9.3%


18.8%   16.6%   19.8%   20.7%




2.4%    4.6%    5.6%    7.9%


4.9%    5.2%    6.1%    7.6%


4.9%    4.2%    3.7%    8.3%


14.5%   12.8%   12.1%   16.9%




10.6%   11.4%   10.9%   5.2%


2.4%    4.1%    2.6%    0.2%


2.7%    4.0%    5.8%    2.9%


6.6%    7.2%    8.7%    5.8%




                                SPPR Quarterly Financial Database
       ch-b




4.8%   4.4%   7.1%   8.6%


7.3%   5.7%   8.4%   6.9%




                            SPPR Quarterly Financial Database
                                           ch-b (2)


                               Q1-1991         Q2-1991       Q3-1991    Q4-1991        Q1-1992

UPM-Kymmene

NA Index                            3.5%              2.0%       3.4%       -0.4%              4.2%

European Index                      5.2%                         1.4%       8.0%               4.7%

ROW Index

Total Paper Index                   3.5%              2.0%       3.3%       -0.2%              4.2%




Sales


EBITDA


Operating Earnings


EBITDA % of Sales


Operating Earnings % of Sales


NA Index - EBITDA                   3.5%              2.0%       4.9%       -0.1%              6.9%

European Index - EBITDA            11.7%                         8.4%      14.2%              12.1%



Market Pulp Index - Operating Earnings/Sales                                                   0.9%


Market Pulp Index - EBITDA/Sales


UPM-Kymmene - Market Pulp Index - Operating Earnings/Sales


UPM-Kymmene - Market Pulp Index - EBITDA/Sales




                                                                              SPPR Quarterly Financial Database
                                          ch-b (2)




Publication Paper Index - Operating Earnings/Sales            -2.5%                          -27.2%


Publication Paper Index - EBITDA/Sales


UPM-Kymmene - Publication Paper Index - Operating Earnings/Sales


UPM-Kymmene - Publication Paper Index - EBITDA/Sales




Fine Paper Index - Operating Earnings/Sales                                 -1.4%             -0.1%


Fine Paper Index - EBITDA/Sales


UPM-Kymmene - Fine Paper Index - Operating Earnings/Sales


UPM-Kymmene - Fine Paper Index - EBITDA/Sales




                                                   9.0%
Lumber and Forest Products Index - Operating Earnings/Sales    6.6%         6.7%              11.9%


Lumber and Forest Products Index - EBITDA/Sales


UPM-Kymmene - Lumber and Forest Products Index - Operating Earnings/Sales


UPM-Kymmene - Lumber and Forest Productsp Index - EBITDA/Sales




                                                                              SPPR Quarterly Financial Database
                                         ch-b (2)




Packaging Grades Index - Operating Earnings/Sales                 4.7%              8.1%


Packaging Grades Index - EBITDA/Sales                             9.9%              3.5%


UPM-Kymmene - Packaging Grades Index - Operating Earnings/Sales


UPM-Kymmene - Packaging Grades Index - EBITDA/Sales




                                                                   SPPR Quarterly Financial Database
                                   ch-b (2)


Q2-1992     Q3-1992     Q4-1992       Q1-1993         Q2-1993     Q3-1993         Q4-1993



    4.6%         4.6%       0.3%              6.4%        6.1%        3.9%                4.5%

    5.1%         2.6%       4.9%              6.7%        5.5%        6.8%                5.4%



    4.7%         4.4%       1.0%              6.4%        6.0%        4.4%                4.7%




    7.4%         7.1%       3.6%              10.6%      10.9%        8.7%                9.2%

    5.9%        10.5%       9.3%              13.4%       8.5%       13.6%                9.0%



    -0.2%       -0.2%      36.2%              -9.3%      -10.1%      -14.1%            -16.9%




                                                                        SPPR Quarterly Financial Database
                           ch-b (2)




-27.7%   -18.8%   -18.9%              -5.4%   -0.9%   0.2%                0.2%




 -1.6%    0.5%     -8.1%              -3.8%   -2.2%   -1.0%              -2.9%




10.8%    11.4%     8.7%               17.4%   14.3%   11.9%             15.2%




                                                        SPPR Quarterly Financial Database
                      ch-b (2)




8.4%   5.2%    6.7%              7.1%   6.9%   7.3%               6.6%


1.7%   -0.5%   1.5%              0.6%   0.7%   0.2%               0.9%




                                                SPPR Quarterly Financial Database
                                   ch-b (2)


Q1-1994     Q2-1994     Q3-1994       Q4-1994         Q1-1995    Q2-1995         Q3-1995

                                                         15.4%                         17.8%

    6.2%         6.5%       7.7%              10.5%      12.9%      14.3%              15.5%

    8.5%         5.8%       9.9%              8.8%       14.8%      10.9%              16.7%

                                                                    14.3%

    6.8%         6.3%       8.2%              9.8%       13.6%      13.0%              15.9%




                                                         21.2%                         23.5%


                                                         15.4%                         17.8%


   10.5%        11.9%      11.5%              13.2%      17.5%      18.0%              19.8%

   12.6%         9.4%      13.9%              12.5%      18.8%      12.9%              20.5%



    -6.5%        0.7%       4.5%              13.2%      23.9%      20.5%              29.7%


    0.0%         0.7%       1.9%              0.0%        3.6%       5.9%                5.2%


                                                         35.4%                         38.3%




                                                                       SPPR Quarterly Financial Database
                        ch-b (2)




-1.3%   2.8%    4.1%               3.5%    12.9%   19.8%             22.4%


                                           5.0%                        7.1%




-1.6%   -1.0%   4.9%               10.9%   17.5%   21.3%             23.7%


0.1%    0.1%    0.1%               0.2%    0.2%    0.2%                0.0%




15.2%   15.0%   14.8%              17.0%   13.4%   11.6%             11.6%




                                           9.9%                        2.4%




                                                     SPPR Quarterly Financial Database
                      ch-b (2)




9.8%   8.7%   11.2%              10.7%   16.2%   15.3%             15.8%


1.4%   1.9%   2.1%               1.9%    2.0%    2.0%                1.7%




                                                   SPPR Quarterly Financial Database
                                   ch-b (2)


Q4-1995    Q1-1996     Q2-1996        Q3-1996          Q4-1996     Q1-1997         Q2-1997

   13.3%       14.0%                           9.0%        8.6%       13.8%              19.7%

   12.4%        9.9%       7.8%                8.2%        6.1%        5.5%                6.2%

   11.7%       11.3%       5.9%                7.2%        6.8%        8.4%                7.5%

   16.1%       12.3%       0.4%               14.0%        0.5%       13.8%                0.6%

   12.3%       10.4%       2.3%                8.2%        2.3%        6.8%                2.6%




                                                                      2263.6             2275.3


                                                                       456.0              579.3


                                                                       313.3              449.1


   19.1%       20.2%                          15.8%       15.1%       20.1%              25.5%


   13.3%       14.0%                           9.0%        8.6%       13.8%              19.7%


   16.4%       15.0%      13.1%               13.5%       11.3%       11.3%              11.6%

   14.6%       17.4%       8.9%               13.9%       10.9%       11.9%              10.7%



   23.1%       -1.1%      -12.5%               -7.4%       0.6%        -3.7%               4.1%


    2.2%        1.7%       -0.7%               3.3%        4.7%        3.4%                0.2%


   36.2%       13.7%                          -23.7%       -7.7%       -6.3%              -4.9%




                                                                         SPPR Quarterly Financial Database
                        ch-b (2)




26.3%   24.7%   21.3%              18.1%   9.0%    6.0%                9.8%


8.7%    13.6%                      11.6%   8.0%    11.8%             14.7%


        22.0%   20.4%              22.1%   9.8%    5.3%                7.5%


        27.9%                      28.5%   16.3%   11.6%             13.4%




17.8%   9.6%    5.9%               4.4%    4.6%    5.9%                6.7%


0.0%    0.7%    2.0%               0.6%    0.4%    0.9%                1.3%




9.9%    6.5%    9.6%               9.5%    10.5%   11.3%             11.4%




-6.1%   1.0%                       0.2%    2.7%    4.5%                9.7%




                                                     SPPR Quarterly Financial Database
                       ch-b (2)




10.9%   12.3%   8.9%              6.8%   3.7%   4.9%               5.5%


4.2%    1.6%    3.9%              2.3%   3.7%   1.3%               4.9%




                                                 SPPR Quarterly Financial Database
                                    ch-b (2)


Q3-1997     Q4-1997     Q1-1998        Q2-1998          Q3-1998     Q4-1998         Q1-1999

   13.8%        11.7%      18.0%               29.7%       19.4%       10.0%              14.9%

    6.7%         6.0%       7.0%                7.5%        8.5%        4.5%                8.0%

    9.7%         8.6%      11.6%               10.4%       11.7%        4.1%                9.7%

   15.3%        16.7%      25.2%               13.8%       20.8%       11.8%              18.6%

    8.0%         8.2%       9.4%                9.2%       10.3%        5.4%                9.5%




   1929.3      2132.1      2114.6              2132.8      1998.3      2051.2             1924.0


    385.5       389.1       528.5               775.5       538.8       373.3              433.0


    266.8       248.5       380.8               632.5       386.8       205.9              287.0


   20.0%        18.2%      25.0%               36.4%       27.0%       18.2%              22.5%


   13.8%        11.7%      18.0%               29.7%       19.4%       10.0%              14.9%


   11.9%        10.9%      12.6%               13.1%       14.8%       11.2%              14.0%

   13.0%        12.3%      17.5%               15.1%       14.7%       10.6%              16.7%



   14.9%        21.6%       2.9%                6.0%        4.2%        -6.1%              -1.6%


    3.4%        15.9%       5.3%               12.1%       13.5%       12.8%              11.6%


   26.5%        17.3%      23.2%               16.0%       24.3%       -13.6%              -4.8%




                                                                          SPPR Quarterly Financial Database
                        ch-b (2)




13.1%   12.3%   17.1%              15.7%   20.6%   15.0%             14.1%


17.3%   17.8%   25.0%              23.4%   29.6%   21.7%             19.2%


11.0%   14.2%   14.6%              16.1%   19.3%   15.6%             14.0%


17.5%   21.2%   21.6%              22.8%   26.9%   23.8%             21.6%




5.9%    8.4%    11.3%              9.3%    5.9%    5.7%                5.5%


0.1%    0.6%    10.2%              7.0%    6.7%    4.2%                4.3%


                12.2%              11.4%   10.0%   6.4%              11.5%




8.2%    5.8%    7.5%               10.5%   8.0%    8.5%              11.8%




5.7%    11.4%   8.2%               9.1%    4.4%    5.2%                5.0%




                                                     SPPR Quarterly Financial Database
                     ch-b (2)




5.8%   4.5%   6.7%              7.2%   6.5%   1.7%               4.7%


1.8%   6.0%   3.2%              6.2%   2.6%   3.1%               4.3%




                                               SPPR Quarterly Financial Database
                                  ch-b (2)


Q2-1999     Q3-1999     Q4-1999       Q1-2000         Q2-2000     Q3-2000        Q4-2000

   13.5%        16.3%      29.8%             31.3%       13.8%       18.3%             15.3%

    9.2%        10.4%      12.1%             11.0%       11.4%       10.6%               9.7%

    8.5%        10.5%      12.2%             16.9%       12.9%       16.8%             12.4%

   15.8%        21.8%      19.5%             24.3%       21.7%       25.4%             17.3%

   10.0%        11.6%      13.2%             13.8%       13.4%       13.4%             11.6%




   1977.0      2053.1      2306.9            2237.0      2316.0      2397.9           2632.0


    415.0       486.0       853.0             808.0       449.0       677.0             604.0


    266.0       334.0       688.0             701.0       320.0       439.0             404.0


   21.0%        23.7%      37.0%             36.1%       19.4%       28.2%             22.9%


   13.5%        16.3%      29.8%             31.3%       13.8%       18.3%             15.3%


   15.8%        15.9%      23.8%             16.2%       17.4%       17.2%             16.7%

   15.2%        18.3%      18.6%             22.5%       18.0%       22.8%             18.3%



    5.4%        16.4%      20.0%             27.9%       30.0%       35.6%             30.7%


   15.1%        16.3%      14.9%             17.4%       19.0%       18.7%             19.4%


    3.1%        26.8%      34.5%             64.4%       57.8%       70.7%             68.1%




                                                                        SPPR Quarterly Financial Database
                    ch-b (2)




10.2%   12.4%   13.4%          13.6%   15.1%   19.3%            16.3%


17.0%   19.1%   18.7%          18.6%   20.3%   23.9%            21.5%


10.5%   15.9%   16.0%          16.4%   16.0%   19.9%            15.9%


18.0%   23.3%   23.2%          23.0%   22.5%   27.2%            23.5%




6.5%    9.0%    11.4%          13.1%   13.4%   13.2%              8.4%


4.4%    4.3%    4.3%           4.8%    5.3%    2.2%               2.4%


7.2%    5.1%    9.3%           14.4%   12.7%   14.9%              8.0%




15.7%   17.6%   17.2%          13.6%   11.0%   6.2%               7.4%




5.3%    6.2%    5.1%           5.3%    6.1%    4.5%               3.9%




                                                 SPPR Quarterly Financial Database
                 ch-b (2)




7.6%   9.4%   8.8%          11.2%   10.4%   12.1%              9.1%


6.7%   6.4%   7.5%          6.9%    7.9%    8.0%               8.0%




                                              SPPR Quarterly Financial Database
                                       ch-b (2)


Q1-2001     Q2-2001     Q3-2001     Q4-2001       Q1-2002     Q2-2002     Q3-2002           Q4-2002

   16.1%       14.0%       13.2%        12.9%        10.7%        9.9%         13.0%                8.4%

    6.9%        8.1%        8.2%         4.5%         5.7%        7.4%          6.7%                5.9%

   14.8%       10.0%       11.3%         8.9%         9.6%        8.2%          9.8%                7.6%

   18.7%       13.8%       14.0%         7.7%        13.6%        9.7%         17.7%              10.3%

   10.0%        9.4%        9.4%         6.3%         7.4%        8.1%          8.4%                7.4%




   2488.0      2536.0      2336.0      2558.0        2566.0      2679.0       2613.0              2617.0


    578.0       538.0       491.0       531.0         512.0       495.0         568.0              541.0


    400.0       355.0       309.0       330.0         274.0       265.0         340.0              219.0


   23.2%       21.2%       21.0%        20.8%        20.0%       18.5%         21.7%              20.7%


   16.1%       14.0%       13.2%        12.9%        10.7%        9.9%         13.0%                8.4%


   13.4%       14.8%       14.5%        10.4%        12.4%       13.9%         13.0%              12.6%

   21.9%       16.5%       18.9%        16.7%        17.6%       15.9%         17.8%              16.8%



   22.6%       11.5%       11.3%         8.3%         8.0%        9.0%         18.6%              10.4%


   23.2%       13.2%       14.3%        14.5%        14.9%       12.8%         21.4%              12.9%


   70.7%       45.8%       35.2%




                                                                          SPPR Quarterly Financial Database
                        ch-b (2)




16.4%   17.5%   17.0%    12.8%     8.4%    6.1%          7.0%                4.1%


21.2%   24.1%   24.4%    23.1%     18.2%   16.5%        16.8%              15.4%


19.5%   17.9%   18.5%    14.7%     10.5%   9.2%         11.9%


26.7%   25.1%   26.3%    22.5%     19.8%   17.8%        20.6%              12.3%




7.3%    5.1%    4.2%      4.2%     5.0%    3.0%          6.9%                3.0%


4.0%    3.3%    2.8%      0.7%     4.0%    4.6%          3.4%                3.7%


15.2%   12.9%   13.5%    15.2%     15.6%   14.6%        18.1%              10.3%




4.6%    10.3%   9.1%      2.4%     8.8%    11.4%         6.5%                6.4%




3.5%    3.4%    1.7%     -0.3%     2.3%    3.5%          1.4%                2.6%




                                                   SPPR Quarterly Financial Database
                     ch-b (2)




8.4%   9.0%   9.3%     7.6%     7.6%   8.2%         8.4%                7.4%


7.3%   8.4%   7.5%     7.9%     7.7%   8.0%         8.1%                8.5%




                                              SPPR Quarterly Financial Database
                                       ch-b (2)


Q1-2003     Q2-2003     Q3-2003     Q4-2003       Q1-2004     Q2-2004     Q3-2004           Q4-2004

    7.2%        7.6%        7.4%         4.9%         4.1%        3.6%          5.7%                4.2%

    4.0%        4.7%        6.6%         4.6%         6.0%        9.3%          9.6%                5.9%

    8.0%        6.9%        6.9%         5.4%         5.7%        5.6%          5.9%                4.2%

   14.2%       10.4%       11.1%         8.6%        12.9%        9.8%         14.7%                8.5%

    6.5%        6.5%        7.3%         5.7%         6.9%        8.5%          9.4%                6.0%




   2458.0      2501.0      2437.0      2552.0        2451.0      2497.0       2449.0              2423.0


    379.0       399.0       415.0       406.0         355.0       349.0         400.0              452.0


    178.0       191.0       180.0       124.0         101.0        91.0         140.0              102.0


   15.4%       16.0%       17.0%        15.9%        14.5%       14.0%         16.3%              18.7%


    7.2%        7.6%        7.4%         4.9%         4.1%        3.6%          5.7%                4.2%


   11.1%       11.5%       13.1%        11.6%        12.5%       15.4%         15.5%              12.2%

   15.8%       14.9%       15.3%        13.9%        13.3%       13.1%         13.9%              12.6%



   13.0%       14.1%       15.2%        11.7%        13.1%       20.0%         18.5%                9.7%


   20.8%       17.3%       21.4%        15.4%        17.8%       22.3%         20.8%              17.0%




                                                                          SPPR Quarterly Financial Database
                        ch-b (2)




3.2%    1.5%    3.6%      1.1%     1.0%    1.2%          3.6%                1.3%


13.1%   11.4%   13.6%    11.7%     11.7%   11.5%        13.2%              11.1%


4.4%    4.4%    5.6%      3.7%     -0.7%   -0.3%         3.4%               -0.4%


12.6%   12.7%   15.2%    14.7%     15.0%   14.9%        18.3%              13.6%




5.6%    5.4%    4.3%      0.1%     1.6%    3.5%          4.8%                3.1%


4.1%    3.4%    2.6%      2.1%     4.4%    3.4%          4.6%                2.2%


12.9%   9.9%    11.1%     8.2%     8.0%    6.1%          8.1%                5.3%


                                   16.3%   14.8%        16.4%              14.5%




5.8%    8.4%    12.2%    14.1%     16.1%   19.8%        17.3%                8.5%


0.3%    0.5%    2.0%      2.3%     2.5%    2.5%          2.8%                1.4%


2.7%    4.2%    0.3%      0.0%     2.3%    3.3%         -0.3%                0.6%


                                   5.7%    6.5%          3.4%                4.3%




                                                   SPPR Quarterly Financial Database
                     ch-b (2)




6.4%   6.9%   6.0%     4.8%     5.2%   6.5%         8.4%                6.7%


7.2%   7.8%   6.9%     6.6%     6.7%   7.8%         8.0%                7.9%




                                              SPPR Quarterly Financial Database
                                   ch-b (2)


Q1-2005     Q2-2005     Q3-2005       Q4-2005          Q1-2006     Q2-2006       Q3-2006

    7.6%        0.5%        7.0%               7.2%        7.5%        3.2%              8.4%

    7.6%        7.9%        5.9%               4.6%        4.9%        6.4%              6.8%

    5.8%        4.2%        5.8%               5.6%        6.4%        5.4%              7.7%

   12.6%        7.5%       10.2%               7.5%       11.7%        7.7%            12.9%

    7.8%        6.8%        6.5%               5.7%        6.3%        6.4%              7.9%




   2278.0      2253.0      2243.0             2574.0      2460.0      2484.0           2495.0


    398.0       242.0       390.0              627.0       408.0       435.0            549.0


    173.0        11.0       157.0              186.0       185.0        79.0            209.0


   17.5%       10.7%       17.4%              24.4%       16.6%       17.5%            22.0%


    7.6%        0.5%        7.0%               7.2%        7.5%        3.2%              8.4%


   13.6%       13.9%       11.3%              12.0%       11.1%       12.3%            12.8%

   14.0%       11.6%       13.7%              16.0%       13.9%       13.0%            16.9%



   14.6%       12.4%       11.5%               8.4%       15.1%       14.3%            18.1%


   21.0%       20.3%       19.3%              18.0%       20.6%       20.4%            19.2%




                                                                         SPPR Quarterly Financial Database
                        ch-b (2)




3.0%    2.0%    5.8%               3.6%    4.6%    5.2%              6.9%


12.4%   11.1%   14.7%              14.9%   13.5%   13.9%           15.9%


4.1%    -3.7%   7.7%               7.0%    3.7%    7.4%              9.3%


18.0%   11.2%   22.5%              18.8%   16.6%   19.8%           20.7%




4.9%    2.5%    2.4%               2.4%    4.6%    5.6%              7.9%


4.5%    3.7%    3.2%               4.9%    5.2%    6.1%              7.6%


8.4%    -3.4%   6.4%               4.9%    4.2%    3.7%              8.3%


17.5%   6.9%    16.1%              14.5%   12.8%   12.1%           16.9%




11.7%   11.4%   10.3%              10.6%   11.4%   10.9%             5.2%


2.7%    2.3%    2.4%               2.4%    4.1%    2.6%              0.2%


4.5%    3.8%    -1.0%              2.7%    4.0%    5.8%              2.9%


8.3%    7.3%    2.7%               6.6%    7.2%    8.7%              5.8%




                                                     SPPR Quarterly Financial Database
                     ch-b (2)




5.7%   5.3%   5.1%              4.8%   4.4%   7.1%             8.6%


6.2%   7.5%   6.6%              7.3%   5.7%   8.4%             6.9%




                                               SPPR Quarterly Financial Database

								
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