Annual Report

The report describes a recession-affected year in which group sales fell 18%, while cost-saving measures reduced fixed costs by € 300 million. It highlights the December acquisition of the Fray Bentos pulp mill and Forestal Oriental operations in Uruguay, increasing UPM's own annual pulp production capacity to 3.2 million tonnes. On sustainability, UPM reports no severe environmental incidents in 2009 and that about 78% of its wood came from certified forests; it also reports fossil CO2 emissions per tonne of paper 40% below 1990 levels.