The Finnish Financial Supervisory Authority has approved WISA Group Plc's demerger and listing prospectus. WISA Group Plc's Group Leadership Team appointed
UPM-Kymmene Corporation Stock Exchange Release (Other information disclosed according to the rules of the Exchange)
Overview of WISA
WISA is one of the leading European plywood producers with a strong market position across key end-uses. WISA offers high-quality plywood and veneer products mainly for panel trading and construction, vehicle flooring, LNG shipbuilding, parquet manufacturing and other industrial applications. It operates seven production units across five locations in
WISA's Group Leadership Team composition
UPM announced on
The Board of Directors of UPM has additionally appointed the following persons to constitute WISA's Group Leadership Team together with the President and CEO, with effect as of the completion of the Demerger:
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The persons appointed to WISA's Group Leadership Team will continue in their current positions at UPM until the completion of the contemplated Demerger on or about
Upon the completion of the Demerger, Tuija Suur-Hamari's position in
WISA's financial targets
The Board of Directors of UPM has set the following performance targets for WISA:
- Sales over EUR 550 million by 2030;
- Comparable EBIT, % of sales of 13 per cent by 2030;
- Net debt / Comparable EBITDA under 1.5x;
In addition, WISA's intended dividend distribution policy is to distribute around 50 per cent of the profit for the financial year as a dividend.
The financial targets constitute forward-looking statements that are not guarantees of future financial performance. WISA's actual results may differ materially from the results presented in or implied by such forward-looking statements as a result of numerous factors.
Key areas of WISA's strategy
The Prospectus includes description of WISA's strategy, which is focused on the following areas:
- Premium focus: WISA's strategy is based on value creation and differentiation. Operations are focused on end uses where WISA has an advantage due to its high-quality products, services and expertise, enabling premium pricing.
- Partnership-led commercial model: WISA emphasizes close, partnership-like relationships with its customers to drive customer satisfaction and retention.
- Two strategic product lines: WISA's product offering consists of softwood and hardwood products, enabling customers to purchase both products from one supplier. This differentiates WISA from its many competitors. Having two strategic product lines also serves as a risk mitigation against fluctuations in supply and demand.
- Operational efficiency: WISA has been able to control its margins in challenging market environments. Furthermore, WISA has available capacity to increase production volumes when the economic activity recovers in Europe.
- Continuous improvement and cost control: WISA continuously develops its processes by executing targeted investments, standardizing its processes and increasing use of digital tools.
Key financials of WISA
The Prospectus includes WISA's audited carve-out financial statements as at and for the years ended December 31, 2025, 2024, and 2023 and the unaudited carve-out financial information of WISA as at and for the three months ended March 31, 2026, including unaudited comparative financial information as at and for three months ended March 31, 2025.
WISA's carve-out financial statements as at and for the years ended December 31, 2025, 2024, and 2023 have been audited by Ernst & Young Oy, Authorised Public Accountants, with Authorised Public Accountant (KHT) Mikko Järventausta as the auditor with the principal responsibility. The Prospectus also includes unaudited pro forma financial information illustrating the effect of the Demerger to WISA's historical carve-out financial information had the Demerger been consummated at an earlier point in time. The Unaudited Pro Forma Financial Information is prepared for illustrative purposes only.
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UPM
UPM is a material solutions company, renewing products and entire value chains with an extensive portfolio of renewable fibres, advanced materials, decarbonization solutions, and communication papers. Our performance in sustainability has been recognized by third parties, including EcoVadis and the Dow Jones Sustainability Indices. We operate globally and employ approximately 15,100 people worldwide, with annual sales of approximately €9.7 billion. Our shares are listed on Nasdaq Helsinki Ltd.
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Important information
The distribution of this announcement may, in certain jurisdictions, be restricted by law. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy any shares in UPM or WISA in any jurisdiction. Any securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered, sold or delivered, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will be no public offering of securities in the United States. No securities referred to herein have been approved or disapproved by the U.S. Securities and Exchange Commission, any state securities commission or any other regulatory authority in the United States, nor have any of the foregoing authorities passed comment upon, or endorsed the merit of, the Demerger or the accuracy or the adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States.
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