Q4 2019 UPM-Kymmene Oyj Earnings Call Transcript
Dear ladies and gentlemen, welcome to UPM's Fourth Quarter and Full Year 2019 Results Webcast. My name is Jussi Pesonen. I'm the CEO of UPM. And I'm here with Tapio Korpeinen, CFO of UPM.
Hello to everybody.
Let's then get started. 2019 was a year of continued good performance and all-time record cash flow. And this statement, by the way, applies both Q4 and full year.
We ended the year with exceptionally strong financial position. This enables us to release our transformative growth projects, and at the same time, pay an attractive dividend to our shareholders. We have now 2 truly transformative growth projects under works. Our highly competitive pulp mill project in Uruguay is proceeding well. The mill will be one of the lowest cost pulp operations in
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