UPM-Kymmene Oyj Q3 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Linus Larsson - SEB, Research Division - Analyst : I'd like to continue on the energy side, Olkiluoto 3 is in -- started or will be starting up during next year. I wonder if you could share with us how you expect that to impact your group net balance of electricity and maybe also how you see EBIT contribution at current pricing.

Question: Linus Larsson - SEB, Research Division - Analyst : Have you hedged the Olkiluoto 3 volumes?

Question: Linus Larsson - SEB, Research Division - Analyst : Okay. And then on a more general group level, one slide, #4, that you showed is quite helpful. There we can see that in the third compared to the second quarter price improvement outpaced variable cost increases. Do you expect that to be the case in the fourth compared to the third quarter as well?

Question: Justin Joseph Jordan - Exane BNP Paribas, Research Division - Analyst : I've got 3 very separate questions. Firstly, for Tapio on the energy, Slide 31 in your deck. Thanks for the clarification on the hedging of the electricity purchases. Can I just clarify just on the electricity sales within the Energy division? Are they also similarly hedged? Or are they predominantly spot? Secondly, just on the (inaudible) growth on Slide 30. You talked to us again about the basic engineering studies being conducted for the potential second biorefinery or potentially even second and third at [Costa] and Notre Dame. Just mindful of the fact that, clearly, we're seeing global logistic REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.