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UPM's result down

Aug 7 2012  UPM reports decreased delivery volumes and lower result for both the second quarter of 2012 and the first half of the year.

Sales for the second quarter of the year were 2,619 million Euros, eight percent higher than the in the corresponding period last year 2011. Sales increased mainly due to the Myllykoski acquisition in August 2011. The operating profit excluding special items was 118 million Euros (201). Profit before tax was 92 million Euros (160). Earnings per share, excluding special items, were 0.14 Euros (0.26).The main negative earnings driver in the second quarter was delivery volumes, which decreased in all UPM's businesses on a comparable basis.UPM's sales for the first half of the year were 5,210 million Euros, nine percent higher than in the first half of 2011. The operating profit excluding special items was 269 million Euros (399). Profit for the six months-period was 204 million Euros (464).

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