UPM Pays €85 Million Corporate Income Tax in Finland in 2024, Highlighting Strong Economic Contribution

UPM paid approximately €85 million in corporate income tax in Finland in 2024 (2023: €114 million). This amount consists of corporate taxes paid by the parent company UPM-Kymmene Corporation and its subsidiaries registered in Finland. The most significant subsidiaries are UPM Communication Papers Oy, UPM Specialty Papers Oy, UPM Raflatac Oy, UPM Plywood Oy, and UPM Energy Oy.

Corporate taxes are part of UPM's economic footprint. In total, the company paid approximately EUR 568 million in various taxes and fees on its Finnish operations in 2024. In addition to corporate, property, and energy taxes, other significant tax items included income taxes and social security contributions paid on employees' salaries, as well as taxes on wood purchases and dividends.

UPM paid approximately EUR 419 million in salaries in Finland last year. At the end of 2024, the company had 6,222 employees in Finland, and UPM also indirectly employed thousands of Finns through approximately 5,600 goods and service suppliers. UPM purchased wood in Finland for approximately EUR 950 million.

During 2024, shareholders were paid dividends of €800 million from the previous financial year's results. More than a third of the dividends paid in two instalments were paid to Finland.

A global company also has a local impact. The EU Eco-Management and Audit Scheme (EMAS) reports detailing the significant regional economic impact of UPM's mills on employment, taxes, and purchasing power have been updated with figures for 2024. The reports also contain information on the environmental and responsibility work carried out by the mills. The updated EMAS reports are available on UPM's website.

For further information please contact:

UPM, Media relations
Mon-Fri 9:00–16:00 EET
tel. +358 40 588 3284
media@upm.com

UPM
UPM is a material solutions company, renewing products and entire value chains with an extensive portfolio of renewable fibres, advanced materials, decarbonization solutions, and communication papers. Our performance in sustainability has been recognized by third parties, including EcoVadis and the Dow Jones Sustainability Indices. We operate globally and employ approximately 15,800 people worldwide, with annual sales of approximately €10.3 billion. Our shares are listed on Nasdaq Helsinki Ltd.
UPM – we renew the everyday