Upm Kymmene Corp (UPMKF) Q1 2025 Earnings Call

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WEBVTT 00:00:01.297 -- 00:00:06.765 Hello, everyone. Welcome to UPM's Quarter 1, 2025 results 00:00:06.765 -- 00:00:12.153 webcast. My name is Massimo Reinaudo. I'm the CEO of UPM. 00:00:12.153 -- 00:00:16.959 I'm here with Tapio Korpainen, the CFO of UPM. 00:00:16.959 -- 00:00:21.266 Today, we will share the main facts and figures of our business during the past months, 00:00:21.266 -- 00:00:26.533 and we will share some views about how we have prepared to deal with the uncertainty 00:00:26.533 -- 00:00:30.035 in the current global economic and trading environment. 00:00:30.035 -- 00:00:33.060 But let's start with quarter one. 00:00:33.060 -- 00:00:38.109 We had a good start of the year and improved our business performance compared 00:00:38.109 -- 00:00:40.393 to the previous quarter. 00:00:40.393 -- 00:00:44.800 Markets improved in pulp and advanced materials, 00:00:44.800 -- 00:00:50.490 whereas they continue to be challenging in communication papers and decarbonisation 00:00:50.490 -- 00:00:52.490 solutions. 00:00:52.597 -- 00:00:55.861 Our actions to sharpen competitiveness 00:00:55.861 -- 00:01:02.706 initiated last year started to bear visible fruits in several areas. 00:01:02.849 -- 00:01:07.794 Quarter one sales were on the same level as last year. 00:01:07.794 -- 00:01:11.699 Comparable EBIT totaled 287 00:01:11.699 -- 00:01:13.261 millions 00:01:13.261 -- 00:01:15.243 or 10.8% 00:01:15.243 -- 00:01:21.875 of sales, which is 14% lower than in quarter one last year. 00:01:21.875 -- 00:01:28.607 In the quarter, we continue to take actions to improve performance and advance growth. 00:01:28.607 -- 00:01:33.897 In Uruguay, we have now the whole platform fully operational, 00:01:33.897 -- 00:01:39.206 including the railway connection from Paso de los Toros to t...