Friday, November 14, 2025
UPM, the global leader in renewable materials, paid approximately €85 million in corporate income tax in Finland in 2024. This contribution, a key part of the company’s economic impact, represents a decrease from the €114 million paid in 2023. The tax payment was made by UPM-Kymmene Corporation and its major Finnish subsidiaries, including UPM Communication Papers Oy, UPM Specialty Papers Oy, UPM Raflatac Oy, UPM Plywood Oy, and UPM Energy Oy.
Corporate tax payments are just one element of UPM’s broader economic footprint in Finland. In 2024, UPM paid a total of €568 million in various taxes and fees across its Finnish operations. These payments encompassed corporate, property, and energy taxes. In addition, the company contributed to the national economy through income taxes and social security contributions for its employees. UPM also paid taxes on wood purchases, reinforcing the importance of forestry and related industries in Finland.
The company’s significant economic role extends beyond its direct tax contributions. UPM’s Finnish operations employed 6,222 people by the end of 2024. In addition, thousands of Finns were indirectly employed through approximately 5,600 suppliers of goods and services to UPM. This robust workforce highlights UPM’s importance as a major employer in the Finnish economy.
The company’s commitment to supporting Finland’s economy is further demonstrated by its salary payments. In 2024, UPM paid approximately €419 million in salaries to its Finnish employees. These funds, circulating within the local economy, represent a substantial contribution to the financial wellbeing of Finnish households.
UPM’s operations in Finland are deeply integrated with the nation’s forest industry. In 2024, UPM purchased around €950 million worth of wood in Finland. This extensive sourcing not only supports Finland’s forestry sector but also ensures the sustainable management of forest resources, aligning with UPM’s broader sustainability goals.
UPM’s economic impact in Finland also includes the significant dividends paid to shareholders. In 2024, €800 million in dividends were distributed from the company’s previous financial year. More than a third of these dividends were paid to Finnish shareholders, underlining the importance of UPM to the local investment community.
Additionally, UPM’s contributions to Finland’s economy are reported through the EU Eco-Management and Audit Scheme (EMAS). The latest EMAS reports for 2024 provide a comprehensive view of UPM’s regional economic impact, focusing on employment, taxes, and purchasing power. These reports also highlight the company’s ongoing environmental and responsibility initiatives carried out by its mills.
As a global company, UPM’s Finnish operations have a far-reaching impact. While it operates in numerous countries worldwide, the company’s contribution to Finland’s economy remains a key focus. UPM’s ability to innovate and lead in sustainability has been recognised by various third parties, including EcoVadis and the Dow Jones Sustainability Indices.
UPM operates with a diverse portfolio that includes renewable fibres, advanced materials, decarbonisation solutions, and communication papers. This wide-ranging focus enables UPM to provide innovative solutions to industries worldwide, while also meeting the growing demand for sustainable products.
The company’s global presence is evident in its workforce of approximately 15,800 people worldwide. With annual sales of around €10.3 billion, UPM continues to be a major player in the materials sector, driving sustainability across its entire supply chain.
UPM’s Finnish operations are a cornerstone of its global business, contributing significantly to both the local and international economy. By providing jobs, paying taxes, and supporting local industries, UPM ensures its role as a major economic player in Finland while also leading the charge in sustainability.
The company’s continued focus on renewable materials and environmentally responsible practices has positioned it as a leader in the industry. UPM’s ongoing investments in sustainable innovation further support its mission to create value for its stakeholders and society.
In conclusion, UPM’s €85 million corporate tax payment in Finland is a reflection of its significant economic footprint. This, along with the company’s broad range of other tax contributions, salaries, and dividends, highlights its commitment to supporting the Finnish economy. As UPM continues to innovate and lead in sustainability, its contributions to both the Finnish and global economy will remain substantial. The company’s comprehensive economic impact underscores its role as a vital player in Finland’s financial landscape.
Read more new son UPM
Get more updates on American woodworking industry through: www.woodandpanel.us
Tags: corporate tax, EU Eco-Management, renewable materials, sustainability, UPM, UPM-Kymmene Corporation, woodworking industry
Comments: