Cost CompetitivenessUPM's Uruguay operations are highly cost competitive on a global scale, aided by factors like low land acquisition costs and tax advantages.
Dividends And Share RepurchaseUPM's decision to keep its attractive dividend unchanged and initiate the company's first share repurchase program is seen as a vote of confidence in the business model.
Pulp PricesRising pulp prices are identified as a near-term catalyst, with UPM having the biggest exposure to pulp, particularly hardwood pulp, which is expected to see the strongest recovery.