Forestry group UPM says it aims to return to earnings growth
Adds CEO statement in paragraphs 3-4, updates share price
HELSINKI, Sept 5 (Reuters) -Finnish forestry group UPM UPM.HE aims to return to earnings growth after years of big investments and headwinds caused by the pandemic and Russia's war on Ukraine, the company said on Thursday.
"We are coming to the end of a historical investment cycle for UPM," Chief Financial Officer Tapio Korpeinen toldinvestors, adding that the company's goal is now to resume earnings growth.
UPM said it seeks to increase its profit from advanced materials and decarbonisation solutions in the coming years and to expand its business in the world's faster-growing regions.
"We remain committed to predictable and attractive dividends, which can potentially be complemented with share buybacks," Chief Executive Officer Massimo Reynaudo said in a statement, without elaborating.
The company's shares were down 1.4%at 29.70 euros at 1450GMT.
Reporting by Elviira Luoma and Essi Lehto, editing by Anna Ringstrom and Terje Solsvik
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