Q1 2019 UPM-Kymmene Oyj Earnings Call Transcript
Dear audience, welcome to UPM's quarter 1 2019 result webcast. My name is Jussi Pesonen, I'm the CEO of UPM. I'm here with our CFO, Tapio Korpeinen.
Hello to everybody.
Ladies and gentlemen, let's move into the summary slide of the conf call.
UPM's good performance continued in Q1, in line with our expectations. Our sales grew by 7%, driven by higher sales prices in almost all businesses and the increased delivery volumes in several businesses.
Sales prices increases continued to outweigh the impact of the higher variable costs. As a result, our comparable EBIT increased by 5% to EUR 374 million. Operating cash flow increased clearly from last year and was EUR 320 million during this quarter.
We had net cash of EUR 5 million in our
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