UPM-Kymmene had to put up with an operating loss of €1.350bn in 2012 in spite of a rise in turnover by around 4% to €10,438. In 2011 the group had still booked an operating profit of €459m. UPM-Kymmene blames the losses primarily on restructuring measures and value-adjustments, which had a negative impact to the tune of €1.880bn on the 2012 results.