UPM-Kymmene Oyj reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported sales of EUR 2,474 million compared to EUR 2,608 million reported a year ago. Operating profit was EUR 81 million compared to EUR 160 million reported a year ago. Profit before tax was EUR 66 million compared to EUR 146 million reported a year ago. Profit attributable to owners of the parent company was EUR 47 million or EUR 0.09 per diluted share compared to EUR 120 million or EUR 0.23 per diluted share reported a year ago. Net cash generated from operating activities was EUR 103 million compared to EUR 218 million reported a year ago. Capital expenditure was EUR 98 million compared to EUR 88 million reported a year ago. EBITDA was EUR 284 million compared to EUR 357 million reported a year ago. Return on equity was 2.5% compared to 5.0% reported a year ago. Return on equity, excluding special items was 5.1% compared to 4.9% reported a year ago.

UPM-Kymmene Corporation will permanently close down the paper machine 3 at UPM Rauma mill in Finland and the paper machine 4 at Ettringen mill in Germany by the end of the April 2013. The number of employees is reduced by 87 in UPM Rauma mill and by 150 in UPM Ettringen mill. The employee negotiations concerning the closing plans were concluded in March. Employee reductions are a result of UPM’s need to permanently reduce paper capacity in Europe by a further 580,000 tonnes.

UPM-Kymmene Oyj proposed the board of directors, the AGM decided that a dividend of EUR 0.60 per share will be paid on April 19, 2013. The dividend will be paid to a shareholder who is registered in the Company's shareholders’ register maintained by Euroclear Finland Ltd. on April 9, 2013, which is the record date for the dividend payment.