UPM Plywood’s 2020 Q2 sales amounted to 104 million euros, or 16 million euros down from last year’s second quarter. According to the company, spruce plywood deliveries were solid and construction related end-uses remained stable.
The second quarter plywood deliveries have been declining since 2017. When comparing Q2 2017 to this year’s same period, the drop totals 41 000 m3. On an annual level this equals the production of one large birch plywood mill. It is one of the reasons why UPM is now closing its plywood mill in Jyväskylä, Finland.
Despite the declined turnover figures, UPM Plywood succeeded to maintain high profitability. EBITDA was 18 million euros, which makes 17.1 % of turnover. The EBITDA percentage even improved from last year’s 15.6 %. The company also reported that fixed costs in Q2 were significantly lower compared to the same period last year.