An interesting walkthrough of UPM and its prospects. It’s also worth paying attention to the analysis of the value of UPM’s different parts: biochemistry (Leuna, etc.) at zero, as there’s no guarantee of profits, and on the other hand, it’s pointed out that energy production is significantly undervalued compared to, for example, Fortum. Among the winning companies of the energy turmoil caused by the Iran and Ukraine wars.
The analysis concludes with a 
overall assessment and recommendation: Buy.