Operating profit, excluding non-recurring items for wood products, was €22m, €8m more than in the first quarter. Sales amounted to €378m compared to €343m in the first quarter.
The company said profitability of plywood was good and full production capacity was achieved. Plywood production was 239,000m3 compared to 245,000m3 in the first quarter.
The profitability of the sawmilling division also improved and the operating profit was positive. Sawn timber production was 581,000m3 compared to 455,000m3 in the first quarter.
In June UPM announced the decision to sell its building materials merchant, Puukeskus Oy, and this is expected to take place in the third quarter.
The company said that in the first half of the year birch plywood demand remained strong in all markets. The spruce plywood markets also performed well and plywood prices improved on last year.
Redwood sawn timber markets improved and there was a slight increase in demand for whitewood sawn timber
However, UPM said, raw material supply decreased and prices began to rise.
