UPM’S OPERATING PROFIT FOR 2008 IMPACTED BY HIGH COST OF WOOD AND ECONOMIC DOWNTURN. RESTRUCTURING MEASURES IMPLEMENTED PROMPTLY TO FACE A CHALLENGING YEAR 2009
Earnings per share for 2008 were EUR -0.35 (EUR 0.16), excluding special items EUR 0.42 (EUR 1.00); Operating profit for the year was EUR 24 million (EUR 483 million), excluding special items EUR 513 million (EUR 835 million); Operating loss for the fourth quarter was EUR 286 million (profit of EUR 142 million), excluding special items a loss of EUR 46 million (profit of EUR 194 million).