FINANCIAL REVIEW 2009: TIGHT COST CONTROL WAS DRIVING UPM'S PROFITS; DEMAND SLOWLY RECOVERING IN MOST BUSINESSES Earnings per share were EUR 0.33 (-0.35), excluding special items EUR 0.11 (0.42).Operating profit excluding special items was EUR 270 million (513 million). Strong operating cash flow of EUR 1,259 million, net debt reduced by EUR 591 million. Fixed cost savings worth EUR 300 million. Read more »

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