Apr 23, 2020 / 10:15AM GMT
Jussi Pesonen - UPM-Kymmene Oyj - President, CEO & Head of UPM Biorefining
Ladies and gentlemen, welcome to UPM's Quarter 1 2020 Result Webcast. My name is Jussi Pesonen, I'm the CEO of UPM, and I'm here with our CFO, Tapio Korpeinen.
Tapio Juhani Korpeinen - UPM-Kymmene Oyj - CFO & Executive VP of UPM Energy
Hello to everyone.
Jussi Pesonen - UPM-Kymmene Oyj - President, CEO & Head of UPM Biorefining
First of all, UPM made a solid results during the quarter. In January, we made an investment decision for the first-of-its-kind biochemicals refinery in Germany. This investment opens totally a new and exciting market for UPM's future growth and value creation.
In January and February, we were affected by the strikes in Finland. Our Finnish pulp and paper mills were down for 2 weeks, and our Finnish plywood mills and sawn timber mills were down for 4 weeks. The big news during the quarter was, obviously, the COVID-19 outbreak, which was already an epidemic in China starting in January and then
Q1 2020 UPM-Kymmene Oyj Earnings Call Transcript
Apr 23, 2020
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