Q2 2016 highlights • Comparable EBIT increased by 21% to EUR 264 million (219 million). • Growth projects contributed to earnings, driving delivery growth in UPM Biorefining, UPM Raflatac and UPM Paper Asia. • Cost-efficiency measures continued on a strong track, variable and fixed costs decreased significantly. • Operating cash flow was strong at EUR 434 million (324 million). H1 2016 highlights • Comparable EBIT increased by 27% to EUR 545 million (429 million). • Operating cash flow increased to EUR 775 million (432 million). • Net debt decreased to EUR 1,876 million (2,635 million), and gearing to 24% (35%). • UPM sold the Schwedt newsprint mill in Germany in July and closed the Madison SC paper mill in the US in May. • In July, UPM announced expansion of the UPM Kymi pulp mill capacity to 870,000 tonnes, continuing its focused growth investments.
Kimberly-Clark Corporation (NYSE: KMB) announced today that it is notifying customers in the U.S. and Canada of plans to increase net selling prices across a majority of its North America consumer products business. The increases will be implemented almost entirely through changes in list prices and are necessary to help offset significant commodity cost inflation.
The percentage increases are in the mid-to-high single digits. Nearly all of the increases will be effective in late June and impact the company’s baby and child care, adult care and Scott bathroom tissue businesses.