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UPM-Kymmene profit misses consensus by 33.1% in Q1

UPM-Kymmene Oyj said its first-quarter normalized net income amounted to 19 euro cents per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.

EPS declined year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €103.1 million, a decrease from €104.4 million in the prior-year period.

The normalized profit margin fell to 4.1% from 4.2% in the year-earlier period.

Total revenue came to €2.49 billion, compared with €2.48 billion in the prior-year period, and total operating expenses came to €2.30 billion, compared with €2.30 billion in the prior-year period.

Reported net income declined 18.9% year over year to €154.7 million, or 29 cents per share, from €190.7 million, or 36 cents per share.