Weaker demand impacted Uponor´s profit development in Q3

Uponor's interim report for January-September 2007                              

Weaker demand impacted Uponor´s profit development in Q3                        

- Net sales for Jan-Sept at EUR 943.3 (871.1) million, a change of +8.3%        
- Jan-Sept operating profit at EUR 123.7 (113.8) million, a change of +8.6%     
- Earnings per share improved to 1.10 (1.05) euros                              
- Return on investment at 41.0% (34.8%), with gearing at 37.3 (-5.0)            
- Full-year net sales are expected to grow in line with long-term targets       
- Full-year operating profit is expected to improve from 2006                   


CEO Jan Lång comments on the financial performance for the period:              

- Uponor's 9-month net sales development is in line with our long-term targets  
although the third quarter turned out to be exceptionally challenging with      
housing solutions demand declining abruptly in certain key markets.             
- In North America, we managed to reach a significant operative performance     
improvement, which confirms our view of future prospects. We also decided on a  
factory expansion, in order to satisfy the growing demand of plastic systems and
to be able to introduce new products in the future.                             
- Despite fluctuating demand cycles, our strategically significant development  
projects in the high-rise and cooling businesses are advancing according to     
plan. We have won new projects in all regions.                                  


Presentation material is available, and a teleconference will be held:          

Following the release of this report, the presentation material for the interim 
report will be available at www.uponor.com/investors, under 'IR material'.      

Uponor will hold a teleconference for IR audiences today, at 5.00 p.m. Finnish  
time (London 3:00 p.m. and New York 10:00 a.m.). Please join by calling         
+44 20 7019 0812 (using a DTMF telephone). The participant code is ‘Uponor Q3'  
and the conference number is PA5448815. Instructions are available at           
www.uponor.com/investors.                                                       



Markets                                                                         

Demand for Uponor's housing solutions weakened surprisingly rapidly in the third
quarter, mainly affecting Germany and certain other European markets, which     
showed clearly lower figures for demand compared to the lively third quarter of 
2006. The origin of this can be traced back to the faltering of the U.S. housing
markets, which has led to longer selling time for houses and made it more       
difficult to obtain loans. This in turn has increased prudence, not only among  
construction industry companies but also in the distribution channel and among  
consumers, particularly in the United States but also elsewhere.                

The implications of the turbulence in the financial markets are also reflected  
geographically in Europe, which generates a good four fifths of Uponor's net    
sales. In Germany, third quarter demand remained clearly below that of the very 
lively first half of 2007. In Denmark, the decline in demand already noted      
during the second quarter continued, while in Finland and Spain the decline     
became clearly evident during the report period. In the UK and Italy, the growth
in demand clearly decelerated.                                                  

Despite this weakening of the general business environment, demand remained     
strong in certain key markets, including the other Nordic countries and most    
Central European markets (excluding Germany).                                   

Within infrastructure solutions, which constitute nearly a third of Uponor's    
business operations, demand remained satisfactory or even improved in the Nordic
countries and the UK, where Uponor is engaged in this business.                 


Net sales                                                                       

Uponor's consolidated net sales for July-September fell short of those of the   
comparison period and totalled EUR 308.3 (319.7) million.                       

In housing solutions, the decrease in net sales was due to the surprisingly     
rapid weakening in demand which occurred simultaneously in several key markets. 
This resulted mainly from the smaller number of new housing projects underway   
during the third quarter compared to a year earlier, affecting demand for       
heating systems in particular. In addition to the reduction in housing starts,  
the strong growth in demand for plumbing systems in the last few years was      
affected by intensifying competition, particularly in composite pipe markets.   

Net sales in municipal infrastructure solutions achieved their 2006 level,      
partly due to the price increases implemented.                                  

In Central Europe, net sales were markedly lower in Germany, where demand fell  
from the exceptionally strong level of the third quarter of 2006. In the other  
Central European markets, which contribute approximately half of net sales in   
this region, growth continued, mainly at satisfactory levels.                   

In the Nordic countries, net sales to local customers reached the previous      
year's level despite the reduction of the Danish market. However, total net     
sales from this region decreased slightly, due to the downward trend in         
deliveries to other Uponor units, mainly to Germany and countries of southern   
Europe.                                                                         

In Uponor Europe - West, East, South, net sales grew slightly, year-on-year.    
This was mainly attributable to brisk growth in France and Eastern Europe as    
well as in the housing solutions and infrastructure solutions business in the   
UK. There was also a slight increase in net sales in Spain.                     

In North America, the fall in net sales was mainly attributable to decreased    
demand for plumbing systems whereas sales of radiant underfloor heating systems 
remained at the previous year's level. The decline in total net sales resulted  
from difficulties in the U.S. markets, with net sales growing in Canada.        


Net sales by segment (July-September):                                          

--------------------------------------------------------------------------------
| EUR million                     |     7-9/2007 |     7-9/2006 |       Change |
--------------------------------------------------------------------------------
| Central Europe                  |         85.9 |         96.9 |       -11.3% |
--------------------------------------------------------------------------------
| Nordic                          |         99.1 |        101.2 |        -2.0% |
--------------------------------------------------------------------------------
| Europe - West, East, South      |        111.3 |        106.8 |         4.2% |
--------------------------------------------------------------------------------
| North America                   |         44.8 |         53.1 |       -15.6% |
--------------------------------------------------------------------------------
| (North America, USD million)    |         62.0 |         67.5 |       -8.2%) |
--------------------------------------------------------------------------------
| Eliminations                    |        -32.8 |        -38.3 |              |
--------------------------------------------------------------------------------
| Total                           |        308.3 |        319.7 |        -3.6% |
--------------------------------------------------------------------------------


January-September net sales totalled EUR 943.3 (871.1) million, representing    
growth of 8.3 per cent due to favourable developments during the first half of  
the year. Excluding North America, all of the regional organisations reported   
increased net sales, year on year. The growth in plumbing system sales has been 
supported by copper prices, which have remained high, and the resultant         
accelerated growth in market share in plastic and composite pipes.              


Net sales by segment (January-September):                                       

--------------------------------------------------------------------------------
| EUR million                     |     1-9/2007 |     1-9/2006 |       Change |
--------------------------------------------------------------------------------
| Central Europe                  |        275.6 |        256.4 |         7.5% |
--------------------------------------------------------------------------------
| Nordic                          |        309.6 |        279.8 |        10.6% |
--------------------------------------------------------------------------------
| Europe - West, East, South      |        343.5 |        294.0 |        16.8% |
--------------------------------------------------------------------------------
| North America                   |        130.5 |        144.2 |        -9.5% |
--------------------------------------------------------------------------------
| (North America, USD million)    |        176.3 |        180.1 |       -2.1%) |
--------------------------------------------------------------------------------
| Eliminations                    |       -115.9 |       -103.3 |              |
--------------------------------------------------------------------------------
| Total                           |        943.3 |        871.1 |         8.3% |
--------------------------------------------------------------------------------


Results and profitability                                                       

Uponor's operating profit for the third quarter was clearly below that of the   
comparison period. Consolidated operating profit for July-September totalled EUR
42.2 (52.1) million, down 19.1 per cent year on year. As a result of lower net  
sales, the profit and profitability both declined from the comparable period    
last year. Also fluctuating demand has brought inefficiencies into the supply   
chain, thus contributing to lower profitability. In North America, Uponor       
recognised a non-recurring expense of approximately EUR 3 million as the company
decided to replace defective pipe fittings delivered by its subcontractor in    
around 700 apartments. Uponor is claiming damages from involved parties.        
The decline in operating profit was strongest in Uponor Central Europe as well  
as in Uponor Nordic, where the drop in internal deliveries to other regions had 
a negative impact on profitability. Uponor North America achieved a healthy     
profit improvement amidst a challenging market situation, but its impact was    
lost due to the aforementioned product replacement resulting from a             
subcontractor's product defect. The performance improvement in North America was
created mainly by streamlining production, marketing and administration. In     
Europe - West, East, South, Uponor sold a factory building which had previously 
manufactured infrastructure solutions in Portugal. A capital gain of EUR 3.4    
million was recognised in the current quarter as a result of this transaction,  
in addition to which Uponor succeeded in improving its profitability in Europe -
WES through growth in net sales, improved operating efficiency and changes in   
its product sales mix.                                                          


Operating profit by segment (July-September):                                   

--------------------------------------------------------------------------------
| EUR million                     |     7-9/2007 |     7-9/2006 |       Change |
--------------------------------------------------------------------------------
| Central Europe                  |         10.6 |         15.2 |       -30.5% |
--------------------------------------------------------------------------------
| Nordic                          |         13.0 |         19.2 |       -32.4% |
--------------------------------------------------------------------------------
| Europe - West, East, South      |         16.7 |         13.6 |        22.6% |
--------------------------------------------------------------------------------
| North America                   |          4.4 |          7.0 |       -37.5% |
--------------------------------------------------------------------------------
| (North America, USD million)    |          6.1 |          8.9 |      -31.2%) |
--------------------------------------------------------------------------------
| Other                           |         -3.4 |         -3.0 |              |
--------------------------------------------------------------------------------
| Eliminations                    |          0.9 |          0.1 |              |
--------------------------------------------------------------------------------
| Total                           |         42.2 |         52.1 |       -19.1% |
--------------------------------------------------------------------------------


Due to the favourable developments during the first half of the year, Uponor's  
January-September operating profit came to EUR 123.7 (113.8) million, up 8.6 per
cent on the previous year.  Despite the clearly weaker third quarter, year on   
year, nine-month profitability remained unchanged, with the profit margin at    
13.1 (13.1) per cent.                                                           


Operating profit by segment (January-September):                                

--------------------------------------------------------------------------------
| EUR million                     |     1-9/2007 |     1-9/2006 |       Change |
--------------------------------------------------------------------------------
| Central Europe                  |         34.0 |         38.7 |       -12.2% |
--------------------------------------------------------------------------------
| Nordic                          |         42.0 |         43.7 |        -4.0% |
--------------------------------------------------------------------------------
| Europe - West, East, South      |         46.8 |         28.4 |        64.7% |
--------------------------------------------------------------------------------
| North America                   |         12.6 |         11.1 |        13.1% |
--------------------------------------------------------------------------------
| (North America, USD million)    |         17.0 |         13.9 |       22.3%) |
--------------------------------------------------------------------------------
| Other                           |         -9.7 |         -7.1 |              |
--------------------------------------------------------------------------------
| Eliminations                    |         -2.0 |         -1.0 |              |
--------------------------------------------------------------------------------
| Total                           |        123.7 |        113.8 |         8.6% |
--------------------------------------------------------------------------------

Consolidated profit before taxes for January-September came to EUR 119.4 (112.5)
million, up 6.1 per cent on the previous year. Taxes amounted to EUR 38.8 (35.4)
million, with a tax rate of 32.5 (31.5) per cent. The result for the financial  
period was EUR 80.6 (77.1) million.                                             

Earnings per share (basic and diluted) were EUR 1.10 (1.05). Equity per share   
went down to EUR 4.32 (5.82) and, diluted, EUR 4.32 (5.81).                     


Investment and financing                                                        

Consolidated cash flow before financing was EUR 11.5 (66.0) million.            

Gross investments totalled EUR 32.0 (31.2) million, or 3.4 (3.6) per cent of net
sales. The largest individual investments continued to be the development and   
implementation of an enterprise resource planning (ERP) system which has now    
proceeded to Uponor Nordic.                                                     

In the United States, Uponor initiated a plant extension, the aim of which is to
ensure sufficient production capacity in radiant floor heating and plumbing     
systems and to provide opportunities for launching new products over the next   
few years.                                                                      

Furthermore, composite pipe production was expanded in Europe.                  

The solvency ratio declined to 43.0 (57.2) per cent, while gearing increased to 
37.3 (-5.0). Net interest-bearing liabilities rose to EUR 118.0 (-21.1) million,
mainly due to capital tied up in inventories.                                   

Return on investment (ROI) grew to 41.0 (34.8) per cent and return on equity    
(ROE) to 32.5 (24.4) percent.                                                   


Key events during the period                                                    

Uponor signed several high-rise and cooling project contracts which support the 
company's strategic focus areas. During the report period, the most important of
these were "The Eye", a telecommunications building to be built in Darmstadt,   
Germany, that will be equipped with Uponor's radiant cooling system, and the new
opera house under construction in Oslo, Norway, that will be equipped with      
Uponor's radiant heating and plumbing systems. In Spain, Uponor signed a        
partnership agreement with a local company specialised in solar energy in order 
to promote sales of radiant heating and cooling systems.                        

A new Uponor Academy was opened in Fristad, Sweden, and a corresponding         
institute is under construction in Ochtrup, Germany. Also in Sweden, Uponor     
carried out its first Nordic installation of the Oracle eBS ERP system in a     
manufacturing site.                                                             

In Great Britain, Uponor initiated sales of a new sewer pipe that withstands    
high cleaning pressure.                                                         


Human resources and organisation                                                

The reported number of Group employees (converted to full-time equivalents)     
averaged 4,471 (4,243) during the period under review, an increase of 228       
persons from the third quarter of 2006. The corresponding figure at the period  
end was 4,558 (4,277) employees, 281 more than in September 2006. At the end of 
the period, the Group employed 4,719 (4,452) employees. Personnel decreased in  
North America and increased in all other regions.                               

On 25 September, Uponor Corporation's Board of Directors decided to launch a    
long-term incentive scheme for members of the company's Executive Committee. To 
be eligible to participate in the scheme, an Executive Committee member must    
acquire a specific number of Uponor shares, as defined under the scheme, by the 
end of August 2008. Depending on the cumulative operating profit of Uponor      
during 2007-2011, and the number of shares acquired within the scheme, each     
Executive Committee member is eligible for being awarded Uponor shares in the   
spring of 2012.                                                                 

Share capital and shares                                                        

A total of 24.8 (8.4) million Uponor shares valued at EUR 619.4 (173.8) million 
were traded on the OMX Nordic Exchange in Helsinki in the third quarter. The    
highest quotation was EUR 29.98 (21.79) and the lowest was EUR 20.00 (19.17).   
The market value of the share capital was EUR 1.6 (1.6) billion at the end of   
the period, and the number of shareholders was 9,564 (7,131).                   

Uponor Corporation's share capital amounts to EUR 146,446,888 and the number of 
shares totals 73,206,944.                                                       

On 14 September, Capital Research and Management Company and Capital Group      
International, Inc. issued notifications, according to which the holdings of    
Capital Research and Management Company represent over 5 per cent of the share  
capital and voting rights in Uponor Corporation, whereas the aggregate holdings 
of Capital Group Companies, Inc. and Capital Group International, Inc. and its  
subsidiaries have fallen below 5 per cent of the share capital and voting       
rights.                                                                         

In March, Uponor's AGM authorised the Board of Directors to decide on the       
buyback of the company's own shares using distributable earnings from           
unrestricted equity. The number of shares to be bought back will be no more than
3,500,000 shares, representing approximately 4.8 per cent of the company's      
shares. The authorisation is valid for one year from the date of the AGM. The   
Board of Directors has no other authorisations.                                 

The company has no treasury shares.                                             


Short-term outlook                                                              

Uponor's financial results are exposed to various strategic, operational,       
financial and damage risks. For further details on these, see Uponor's Financial
Report 2006.                                                                    

The short-term outlook of the construction market in Uponor's geographical      
markets and product groups is rather unstable, and the circumstances are        
expected to remain unsatisfactory for the remaining part of the year. The U.S.  
construction market is expected to remain subdued for a good part of 2008. In   
the German market, no long-term growth is on the horizon despite the possibility
of occasional pick-ups in demand. The long-term boom in the Spanish market has  
levelled off but the market is expected to remain at a satisfactory level in a  
longer-term comparison. In the Nordic countries, demand is likely to fall from  
last winter's level but is expected to remain satisfactory both in housing and  
infrastructure solutions.                                                       

Uponor will continue to improve its efficiency as well as the implementation of 
strategic projects aimed at business growth. The implementation of the          
Europe-wide ERP system is proceeding according to plan. Development projects in 
the high-rise and cooling businesses are also advancing in line with targets.   

Uponor hereby repeats the message given on 25 September, which concerned a      
slower growth of net sales. Uponor expects its full-year 2007 net sales growth  
rate to be at least 6 per cent. In the same connection, Uponor announced that   
its full-year operating profit is expected to exceed the 2006 level.            


Uponor Corporation                                                              
Board of Directors                                                              



For further information, please contact:                                        
Jan Lång, President and CEO, tel. +358 20 129 2822                              
Jyri Luomakoski, CFO and Deputy CEO, tel. +358 40 515 4498                      



Uponor Corporation                                                              


Tarmo Anttila                                                                   
Vice President, Communications                                                  
Tel. +358 20 129 2852                                                           


DISTRIBUTION:                                                                   
Helsinki Stock Exchange                                                         
Media                                                                           
www.uponor.com                                                                  




The text may contain forward-looking statements, which are based on the         
management's present expectations and beliefs about the future. The actual      
result may differ materially from such statements.                              


Information on the interim report                                               

The figures in brackets in this interim report are the reference figures for the
equivalent period in 2006. The change percentages reported in the interim report
have been calculated from exact figures, not from rounded figures published in  
the interim report.                                                             


INTERIM REPORT 1-9/2007, IFRS                                                   

The figures in this interim report are unaudited.                               


CONSOLIDATED INCOME STATEMENT                                                   

--------------------------------------------------------------------------------
| MEUR                    |     1-9/ |    1-9/ |    7-9/ |    7-9/ |     1-12/ |
|                         |     2007 |    2006 |    2007 |    2006 |      2006 |
--------------------------------------------------------------------------------
| Net sales               |    943.3 |   871.1 |   308.3 |   319.7 |   1,157.0 |
--------------------------------------------------------------------------------
| Cost of goods sold      |    603.3 |   557.5 |   199.4 |   202.3 |     743.8 |
--------------------------------------------------------------------------------
| Gross profit            |    340.0 |   313.6 |   108.9 |   117.4 |     413.2 |
--------------------------------------------------------------------------------
| Other operating income  |      5.0 |     2.1 |     4.0 |     0.9 |       3.7 |
--------------------------------------------------------------------------------
| Dispatching and         |     21.6 |    18.7 |     7.0 |     6.4 |      25.7 |
| warehousing expenses    |          |         |         |         |           |
--------------------------------------------------------------------------------
| Sales and marketing     |    142.0 |   130.2 |    45.9 |    42.1 |     176.6 |
| expenses                |          |         |         |         |           |
--------------------------------------------------------------------------------
| Administration expenses |     43.9 |    37.6 |    12.6 |    12.5 |      51.0 |
--------------------------------------------------------------------------------
| Other operating         |     13.8 |    15.4 |     5.2 |     5.2 |      19.9 |
| expenses                |          |         |         |         |           |
--------------------------------------------------------------------------------
| Operating profit        |    123.7 |   113.8 |    42.2 |    52.1 |     143.7 |
--------------------------------------------------------------------------------
| Financial expenses, net |      4.3 |     1.3 |     2.2 |     0.2 |       2.2 |
--------------------------------------------------------------------------------
| Profit before taxes     |    119.4 |   112.5 |    40.0 |    51.9 |     141.5 |
--------------------------------------------------------------------------------
| Income taxes            |     38.8 |    35.4 |    13.8 |    16.7 |      45.0 |
--------------------------------------------------------------------------------
| Profit for the period   |     80.6 |    77.1 |    26.2 |    35.2 |      96.5 |
--------------------------------------------------------------------------------
|                         |          |         |         |         |           |
--------------------------------------------------------------------------------
| Earnings per share, EUR |     1.10 |    1.05 |    0.36 |    0.48 |      1.32 |
--------------------------------------------------------------------------------
| Diluted earning per     |     1.10 |    1.05 |    0.36 |    0.48 |      1.32 |
| share, EUR              |          |         |         |         |           |
--------------------------------------------------------------------------------



CONSOLIDATED BALANCE SHEET                                                      

--------------------------------------------------------------------------------
| MEUR                                       |    30.9. |    30.9. |    31.12. |
|                                            |     2007 |     2006 |      2006 |
--------------------------------------------------------------------------------
| Assets                                     |          |          |           |
--------------------------------------------------------------------------------
| Non-current assets                         |          |          |           |
--------------------------------------------------------------------------------
| Property, plant and equipment              |    210.0 |    205.1 |     211.8 |
--------------------------------------------------------------------------------
| Intangible assets                          |     98.7 |     93.1 |      97.6 |
--------------------------------------------------------------------------------
| Securities and long-term investments       |      3.6 |     10.6 |       3.6 |
--------------------------------------------------------------------------------
| Deferred tax assets                        |     20.7 |     18.7 |      20.9 |
--------------------------------------------------------------------------------
| Total non-current assets                   |    333.0 |    327.5 |     333.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current assets                             |          |          |           |
--------------------------------------------------------------------------------
| Inventories                                |    160.4 |    125.6 |     128.1 |
--------------------------------------------------------------------------------
| Accounts receivable                        |    224.1 |    228.1 |     150.6 |
--------------------------------------------------------------------------------
| Other receivables                          |     12.7 |     17.6 |      18.9 |
--------------------------------------------------------------------------------
| Cash and cash equivalents                  |      7.4 |     45.6 |      12.4 |
--------------------------------------------------------------------------------
| Total current assets                       |    404.6 |    416.9 |     310.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total assets                               |    737.6 |    744.4 |     643.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholders' equity and liabilities       |          |          |           |
--------------------------------------------------------------------------------
| Shareholders' equity                       |    316.5 |    425.5 |     344.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current liabilities                    |          |          |           |
--------------------------------------------------------------------------------
| Interest-bearing liabilities               |     19.6 |     21.5 |      17.2 |
--------------------------------------------------------------------------------
| Deferred tax liability                     |     16.0 |     17.3 |      16.9 |
--------------------------------------------------------------------------------
| Provisions                                 |      9.9 |      9.7 |      10.8 |
--------------------------------------------------------------------------------
| Employee benefits and other liabilities    |     25.3 |     26.8 |      29.2 |
--------------------------------------------------------------------------------
| Total non-current liabilities              |     70.8 |     75.3 |      74.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current liabilities                        |          |          |           |
--------------------------------------------------------------------------------
| Interest-bearing liabilities               |    105.8 |      3.0 |      16.9 |
--------------------------------------------------------------------------------
| Provisions                                 |      8.5 |      7.3 |       4.7 |
--------------------------------------------------------------------------------
| Accounts payable                           |     82.1 |     86.9 |      90.0 |
--------------------------------------------------------------------------------
| Other liabilities                          |    153.9 |    146.4 |     113.8 |
--------------------------------------------------------------------------------
| Total current liabilities                  |    350.3 |    243.6 |     225.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total shareholders' equity and liabilities |    737.6 |    744.4 |     643.9 |
--------------------------------------------------------------------------------



CONSOLIDATED CASH FLOW STATEMENT                                                

--------------------------------------------------------------------------------
| MEUR                                       |     1-9/ |     1-9/ |     1-12/ |
|                                            |     2007 |     2006 |      2006 |
--------------------------------------------------------------------------------
| Net cash from operations                   |    148.4 |    140.7 |     180.7 |
--------------------------------------------------------------------------------
| Change in net working capital              |    -74.3 |    -33.7 |       5.2 |
--------------------------------------------------------------------------------
| Paid income taxes                          |    -31.5 |    -25.5 |     -37.9 |
--------------------------------------------------------------------------------
| Paid interest                              |     -5.4 |     -2.1 |      -3.9 |
--------------------------------------------------------------------------------
| Received interest                          |      1.7 |      2.1 |       3.2 |
--------------------------------------------------------------------------------
| Cash flow from operations                  |     38.9 |     81.5 |     147.3 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash flow from investments                 |          |          |           |
--------------------------------------------------------------------------------
| Proceeds from disposal of subsidiaries     |        - |      0.5 |       0.3 |
--------------------------------------------------------------------------------
| Purchase of fixed assets                   |    -32.0 |    -31.2 |     -54.2 |
--------------------------------------------------------------------------------
| Proceeds from sales of fixed assets        |      4.5 |      4.8 |       6.5 |
--------------------------------------------------------------------------------
| Loan repayments                            |      0.1 |     10.4 |      18.6 |
--------------------------------------------------------------------------------
| Cash flow from investments                 |    -27.4 |    -15.5 |     -28.8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash flow from financing                   |          |          |           |
--------------------------------------------------------------------------------
| Borrowings of debt                         |     89.0 |      0.8 |      14.7 |
--------------------------------------------------------------------------------
| Repayments of debt                         |     -1.5 |     -2.2 |      -1.7 |
--------------------------------------------------------------------------------
| Dividends paid                             |   -102.5 |    -65.8 |    -166.0 |
--------------------------------------------------------------------------------
| Payment of finance lease liabilities       |     -1.5 |     -1.6 |      -2.0 |
--------------------------------------------------------------------------------
| Other financial items                      |        - |     -0.6 |       0.0 |
--------------------------------------------------------------------------------
| Cash flow from financing                   |    -16.5 |    -69.4 |    -155.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Conversion differences for cash and cash   |      0.0 |      0.1 |       0.0 |
| equivalents                                |          |          |           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Change in cash and cash equivalents        |     -5.0 |     -3.3 |     -36.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash and cash equivalents at 1 January     |     12.4 |     48.9 |      48.9 |
--------------------------------------------------------------------------------
| Cash and cash equivalents at end of period |      7.4 |     45.6 |      12.4 |
--------------------------------------------------------------------------------
| Change according to balance sheet          |     -5.0 |     -3.3 |     -36.5 |
--------------------------------------------------------------------------------



STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY                                    

--------------------------------------------------------------------------------
| MEUR      |  Share |   Sha | Other |   Trea |    Trans |   Retain |    Total |
|           |   capi |    re | reser |   sury |   lation |      ed  |          |
|           |    tal |   pre |   ves |    sha |  reserve |     earn |          |
|           |        |  mium |       |    res |          |     ings |          |
--------------------------------------------------------------------------------
| Balance   |  146.4 |  42.5 |   6.7 |   -1.6 |    -10.2 |    160.6 |    344.4 |
| at 31 Dec |        |       |       |        |          |          |          |
| 2006      |        |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Translation differences    |       |        |     -6.3 |          |     -6.3 |
--------------------------------------------------------------------------------
| Cash flow |        |       |       |        |          |          |          |
| hedges    |        |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| - recorded in      |       |   0.2 |        |          |          |      0.2 |
| equity, net of     |       |       |        |          |          |          |
| taxes              |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Net profit for the |       |       |        |          |     80.6 |     80.6 |
| period             |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Total recognised   |       |   0.2 |        |     -6.3 |     80.6 |     74.5 |
| income and expense |       |       |        |          |          |          |
| for the period     |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Cancelling of      |       |       |    0.3 |          |     -0.3 |        - |
| shares             |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Dividend paid (EUR |       |       |        |          |   -102.5 |   -102.5 |
| 1.40 per share)    |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Share based        |       |       |    1.3 |          |     -1.3 |        - |
| incentive plan     |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Other     |        |       |   0.1 |        |          |          |      0.1 |
| adjustmen |        |       |       |        |          |          |          |
| ts        |        |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Balance   |  146.4 |  42.5 |   7.0 |      - |    -16.5 |    137.1 |    316.5 |
| at 30 Sep |        |       |       |        |          |          |          |
| 2007      |        |       |       |        |          |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Balance   |  148.8 |  40.1 |   3.3 |  -21.2 |     -5.4 |    252.8 |    418.4 |
| at 31 Dec |        |       |       |        |          |          |          |
| 2005      |        |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Translation        |       |       |        |     -4.5 |          |     -4.5 |
| differences        |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Net profit for the |       |       |        |          |     77.1 |     77.1 |
| period             |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Total recognised   |       |       |        |     -4.5 |     77.1 |     72.6 |
| income and expense |       |       |        |          |          |          |
| for the period     |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Cancel    |   -2.3 |   2.3 |       |   19.6 |          |    -19.6 |        - |
| ling of   |        |       |       |        |          |          |          |
| shares    |        |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Dividend paid (EUR |       |       |        |          |    -65.8 |    -65.8 |
| 0.90 per share)    |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Share based        |       |       |        |          |      0.3 |      0.3 |
| incentive plan     |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Other     |   -0.1 |   0.1 |   1.2 |        |          |     -1.2 |      0.0 |
| adjust    |        |       |       |        |          |          |          |
| ments     |        |       |       |        |          |          |          |
--------------------------------------------------------------------------------
| Balance   |  146.4 |  42.5 |   4.5 |   -1.6 |     -9.9 |    243.6 |    425.5 |
| 30 Sep    |        |       |       |        |          |          |          |
| 2006      |        |       |       |        |          |          |          |
--------------------------------------------------------------------------------



NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS                          

ACCOUNTING PRINCIPLES                                                           

The interim report has been prepared in compliance with International Financial 
Reporting Standards (IFRS) as adopted by EU and IAS 34 Interim Financial        
Reporting. In interim reports Uponor Group follows the same principles as in the
annual financial statement 2006.                                                

The Group has adopted the following new and amended standards from 1 January    
2007:                                                                           
- IFRS 7 Financial instruments: Disclosures                                     
- Amendment to IAS 1 Presentation of Financial Statements - Capital Disclosures 

The adoption of the standard and the amendment has an impact on information     
presented in the notes to consolidated financial statements.                    

Hedge accounting                                                                
Uponor Group has applied hedge accounting for electricity derivatives in        
September 2007.                                                                 

Part of the derivatives may be designated as hedging instruments, in which case 
the hedge accounting is applied. Hedge programmes are documented according to   
the requirements of IAS 39, and the efficiency of hedge instruments is tested   
both at the inception of the hedge and during the hedge. Fair value changes of  
derivatives, which are designated as cash flow hedges, are recognised directly  
in equity to the extent that the hedge is effective. In January-September, EUR  
0.2 million is recorded directly in own equity. Such accumulated fair value     
changes are released into the income statement in the period, in which the      
hedged cash flow affects the result. The ineffective portion of the gain or loss
of the hedging instrument is recognised immediately in the income statement. The
impact of the ineffective portion on January-September result has been          
insignificant.                                                                  


PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS                             
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| MEUR                                       |     1-9/ |     1-9/ |     1-12/ |
|                                            |     2007 |     2006 |      2006 |
--------------------------------------------------------------------------------
| Gross investment                           |     32.0 |     31.2 |      54.2 |
--------------------------------------------------------------------------------
|  - % of net sales                          |      3.4 |      3.6 |       4.7 |
--------------------------------------------------------------------------------
| Depreciation                               |     27.8 |     26.2 |      35.6 |
--------------------------------------------------------------------------------
| Book value of disposed fixed assets        |      1.5 |      5.0 |       6.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| PERSONNEL                                  |          |          |           |
--------------------------------------------------------------------------------
| Converted to full time employees           |     1-9/ |     1-9/ |     1-12/ |
|                                            |     2007 |     2006 |      2006 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Average                                    |    4,471 |    4,243 |     4,260 |
--------------------------------------------------------------------------------
| At the end of the period                   |    4,558 |    4,277 |     4,325 |
--------------------------------------------------------------------------------
| OWN SHARES                                 |          |          |           |
--------------------------------------------------------------------------------
|                                            |    30.9. |    30.9. |     31.12.|
|                                            |     2007 |     2006 |      2006 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Own shares held by the company, pcs        |        - |   88,000 |    88,000 |
--------------------------------------------------------------------------------
| - of share capital, %                      |        - |    0.1 % |     0.1 % |
--------------------------------------------------------------------------------
| - of voting rights, %                      |        - |    0.1 % |     0.1 % |
--------------------------------------------------------------------------------


SEGMENT INFORMATION                                                             

--------------------------------------------------------------------------------
|  | Geographical segments                                                     |
--------------------------------------------------------------------------------
|  |            | 1-9/2007                | 1-9/2006                           |
--------------------------------------------------------------------------------
|  | MEUR       | Exter |   Inter | Total |        Exter |      Inter |  Total |
|  |            |   nal |     nal |       |          nal |        nal |        |
--------------------------------------------------------------------------------
|  | Segment revenue    |         |       |              |            |        |
--------------------------------------------------------------------------------
|  | Central    | 222.4 |    53.2 | 275.6 |        209.2 |       47.2 |  256.4 |
|  | Europe     |       |         |       |              |            |        |
--------------------------------------------------------------------------------
|  | Nordic     | 250.8 |    58.8 | 309.6 |        226.0 |       53.8 |  279.8 |
--------------------------------------------------------------------------------
|  | Europe -   | 341.6 |     1.9 | 343.5 |        291.7 |        2.3 |  294.0 |
|  | West,      |       |         |       |              |            |        |
|  | East,      |       |         |       |              |            |        |
|  | South      |       |         |       |              |            |        |
--------------------------------------------------------------------------------
|  | North      | 128.5 |     2.0 | 130.5 |        144.2 |          - |  144.2 |
|  | America    |       |         |       |              |            |        |
--------------------------------------------------------------------------------
|  | Eliminatio |     - |  -115.9 | -115. |            - |     -103.3 | -103.3 |
|  | ns         |       |         |     9 |              |            |        |
--------------------------------------------------------------------------------
|  | Total      | 943.3 |       - | 943.3 |        871.1 |          - |  871.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|  |            | 7-9/2007                | 7-9/2006                           |
--------------------------------------------------------------------------------
|  | MEUR       |    Exter | Inte | Total |        Exter |      Inter |  Total |
|  |            |      nal |    r |       |          nal |        nal |        |
|  |            |          |  nal |       |              |            |        |
--------------------------------------------------------------------------------
|  | Segment revenue       |      |       |              |            |        |
--------------------------------------------------------------------------------
|  | Central    |     71.4 | 14.5 |  85.9 |         78.1 |       18.8 |   96.9 |
|  | Europe     |          |      |       |              |            |        |
--------------------------------------------------------------------------------
|  | Nordic     |     82.5 | 16.6 |  99.1 |         82.3 |       18.9 |  101.2 |
--------------------------------------------------------------------------------
|  | Europe -   |    110.5 |  0.8 | 111.3 |        106.2 |        0.6 |  106.8 |
|  | West,      |          |      |       |              |            |        |
|  | East,      |          |      |       |              |            |        |
|  | South      |          |      |       |              |            |        |
--------------------------------------------------------------------------------
|  | North      |     43.9 |  0.9 |  44.8 |         53.1 |          - |   53.1 |
|  | America    |          |      |       |              |            |        |
--------------------------------------------------------------------------------
|  | Eliminatio |        - | -32. | -32.8 |            - |      -38.3 |  -38.3 |
|  | ns         |          |    8 |       |              |            |        |
--------------------------------------------------------------------------------
|  | Total      |    308.3 |    - | 308.3 |        319.7 |          - |  319.7 |
--------------------------------------------------------------------------------
|  |            |                         | 1-12/2006                          |
--------------------------------------------------------------------------------
|  |            |          |      |       |   Exter |      Inter |       Total |
|  |            |          |      |       |     nal |        nal |             |
--------------------------------------------------------------------------------
|  | Segment revenue       |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | Central Europe        |      |       |   283.5 |       61.6 |       345.1 |
--------------------------------------------------------------------------------
|  | Nordic     |          |      |       |   305.2 |       72.6 |       377.8 |
--------------------------------------------------------------------------------
|  | Europe                |      |       |   385.3 |        2.6 |       387.9 |
|  | - West, East, South   |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | North America         |      |       |   183.0 |          - |       183.0 |
--------------------------------------------------------------------------------
|  | Eliminatio |          |      |       |       - |     -136.8 |      -136.8 |
|  | ns         |          |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | Total      |          |      |       | 1,157.0 |          - |     1,157.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|  |            |          | 1-9/ |  1-9/ |    7-9/ |       7-9/ |       1-12/ |
|  |            |          | 2007 |  2006 |    2007 |       2006 |        2006 |
--------------------------------------------------------------------------------
|  | Segment result        |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | Central Europe        | 34.0 |  38.7 |    10.6 |       15.2 |        49.3 |
--------------------------------------------------------------------------------
|  | Nordic     |          | 42.0 |  43.7 |    13.0 |       19.2 |        56.6 |
--------------------------------------------------------------------------------
|  | Europe                | 46.8 |  28.4 |    16.7 |       13.6 |        38.2 |
|  | - West, East, South   |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | North America         | 12.6 |  11.1 |     4.4 |        7.0 |        14.5 |
--------------------------------------------------------------------------------
|  | Others     |          | -9.7 |  -7.1 |    -3.4 |       -3.0 |       -12.0 |
--------------------------------------------------------------------------------
|  | Eliminatio |          | -2.0 |  -1.0 |     0.9 |        0.1 |        -2.9 |
|  | ns         |          |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | Total      |          | 123. | 113.8 |    42.2 |       52.1 |       143.7 |
|  |            |          |    7 |       |         |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|  |            |          |      |       |    1-9/ |  1-9/ 2006 |  1-12/ 2006 |
|  |            |          |      |       |    2007 |            |             |
--------------------------------------------------------------------------------
|  | Segment depreciation and     |       |         |            |             |
|  | impairments                  |       |         |            |             |
--------------------------------------------------------------------------------
|  | Central Europe        |      |       |     5.7 |        5.7 |         7.8 |
--------------------------------------------------------------------------------
|  | Nordic     |          |      |       |     7.6 |        7.9 |        10.7 |
--------------------------------------------------------------------------------
|  | Europe                |      |       |     7.5 |        7.2 |         9.4 |
|  | - West, East, South   |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | North America         |      |       |     4.1 |        4.3 |         5.7 |
--------------------------------------------------------------------------------
|  | Others     |          |      |       |     2.4 |        0.8 |         1.6 |
--------------------------------------------------------------------------------
|  | Eliminatio |          |      |       |     0.5 |        0.3 |         0.4 |
|  | ns         |          |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | Total      |          |      |       |    27.8 |       26.2 |        35.6 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
|  | MEUR                  |      |       |    1-9/ |       1-9/ |       1-12/ |
|  |                       |      |       |    2007 |       2006 |        2006 |
--------------------------------------------------------------------------------
|  | Segment investments   |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | Central Europe        |      |       |     8.0 |        4.5 |         7.5 |
--------------------------------------------------------------------------------
|  | Nordic     |          |      |       |     9.7 |        6.4 |        14.7 |
--------------------------------------------------------------------------------
|  | Europe                |      |       |     5.8 |        4.5 |         8.6 |
|  | - West, East, South   |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | North America         |      |       |     5.3 |        6.7 |         8.8 |
--------------------------------------------------------------------------------
|  | Others     |          |      |       |     3.0 |        9.1 |        14.6 |
--------------------------------------------------------------------------------
|  | Total      |          |      |       |    31.8 |       31.2 |        54.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|  | Segment assets        |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | Central Europe        |      |       |   201.4 |      211.1 |       197.6 |
--------------------------------------------------------------------------------
|  | Nordic     |          |      |       |   232.3 |      281.2 |       203.5 |
--------------------------------------------------------------------------------
|  | Europe                |      |       |   245.8 |      227.5 |       223.3 |
|  | - West, East, South   |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | North America         |      |       |   122.0 |      117.3 |       109.5 |
--------------------------------------------------------------------------------
|  | Others     |          |      |       |   634.8 |      682.8 |       612.5 |
--------------------------------------------------------------------------------
|  | Eliminatio |          |      |       |  -698.7 |     -775.5 |      -702.5 |
|  | ns         |          |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | Total      |          |      |       |   737.6 |      744.4 |       643.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|  | Segment liabilities   |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | Central Europe        |      |       |   105.1 |      111.3 |       132.2 |
--------------------------------------------------------------------------------
|  | Nordic     |          |      |       |   271.9 |      346.8 |       270.3 |
--------------------------------------------------------------------------------
|  | Europe                |      |       |   119.9 |      127.8 |       115.8 |
|  | - West, East, South   |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | North America         |      |       |    54.8 |       54.7 |        46.8 |
--------------------------------------------------------------------------------
|  | Others     |          |      |       |   584.2 |      475.5 |       454.8 |
--------------------------------------------------------------------------------
|  | Eliminatio |          |      |       |  -714.8 |     -797.2 |      -720.4 |
|  | ns         |          |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | Total      |          |      |       |   421.1 |      318.9 |       299.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|  |            |          |      |       |    1-9/ |       1-9/ |       1-12/ |
|  |            |          |      |       |    2007 |       2006 |        2006 |
--------------------------------------------------------------------------------
|  | Segment personnel, average   |       |         |            |             |
--------------------------------------------------------------------------------
|  | Central Europe        |      |       |   1,255 |      1,154 |       1,167 |
--------------------------------------------------------------------------------
|  | Nordic     |          |      |       |   1,386 |      1,303 |       1,309 |
--------------------------------------------------------------------------------
|  | Europe                |      |       |   1,208 |      1,126 |       1,132 |
|  | - West, East, South   |      |       |         |            |             |
--------------------------------------------------------------------------------
|  | North America         |      |       |     564 |        611 |         603 |
--------------------------------------------------------------------------------
|  | Others     |          |      |       |      58 |         49 |          49 |
--------------------------------------------------------------------------------
|  | Total      |          |      |       |   4,471 |      4,243 |       4,260 |
--------------------------------------------------------------------------------

Business segments                                                               
--------------------------------------------------------------------------------
|                         |        | 1-9/2007                                  |
--------------------------------------------------------------------------------
| Segment external        |        |     Housing |         Infra |       Total |
| revenue                 |        |   solutions |     structure |             |
|                         |        |             |     solutions |             |
--------------------------------------------------------------------------------
| Central Europe          |        |       222.4 |             - |       222.4 |
--------------------------------------------------------------------------------
| Nordic                  |        |       103.7 |         147.1 |       250.8 |
--------------------------------------------------------------------------------
| Europe - West, East,    |        |       195.0 |         146.6 |       341.6 |
| South                   |        |             |               |             |
--------------------------------------------------------------------------------
| North America           |        |       128.5 |             - |       128.5 |
--------------------------------------------------------------------------------
| Total                   |        |       649.6 |         293.7 |       943.3 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                         |        | 1-9/2006                                  |
--------------------------------------------------------------------------------
| Segment external        |        |     Housing |         Infra |       Total |
| revenue                 |        |   solutions |     structure |             |
|                         |        |             |     solutions |             |
--------------------------------------------------------------------------------
| Central Europe          |        |       209.2 |             - |       209.2 |
--------------------------------------------------------------------------------
| Nordic                  |        |        91.9 |         134.1 |       226.0 |
--------------------------------------------------------------------------------
| Europe - West, East,    |        |       158.3 |         133.4 |       291.7 |
| South                   |        |             |               |             |
--------------------------------------------------------------------------------
| North America           |        |       144.2 |             - |       144.2 |
--------------------------------------------------------------------------------
| Total                   |        |       603.6 |         267.5 |       871.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                         |        | 1-12/2006                                 |
--------------------------------------------------------------------------------
| Segment external        |        |     Housing |         Infra |       Total |
| revenue                 |        |   solutions |     structure |             |
|                         |        |             |     solutions |             |
--------------------------------------------------------------------------------
| Central Europe          |        |       283.5 |             - |       283.5 |
--------------------------------------------------------------------------------
| Nordic                  |        |       127.7 |         177.5 |       305.2 |
--------------------------------------------------------------------------------
| Europe - West, East,    |        |       210.2 |         175.1 |       385.3 |
| South                   |        |             |               |             |
--------------------------------------------------------------------------------
| North America           |        |       183.0 |             - |       183.0 |
--------------------------------------------------------------------------------
| Total                   |        |       804.4 |         352.6 |     1,157.0 |
--------------------------------------------------------------------------------


CONTINGENT LIABILITIES                                                          

--------------------------------------------------------------------------------
| MEUR                                       |    30.9. |    30.9. |     31.12.|
|                                            |     2007 |     2006 |       2006|
--------------------------------------------------------------------------------
| Group:                                     |          |          |           |
--------------------------------------------------------------------------------
| Mortgages                                  |          |          |           |
--------------------------------------------------------------------------------
| - on own behalf                            |        - |      2.1 |         - |
--------------------------------------------------------------------------------
| Guarantees                                 |          |          |           |
--------------------------------------------------------------------------------
| - on behalf of others                      |     12.0 |     12.7 |      12.6 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Parent company:                            |          |          |           |
--------------------------------------------------------------------------------
| Guarantees                                 |          |          |           |
--------------------------------------------------------------------------------
| - on behalf of subsidiaries                |     10.2 |     11.0 |      11.4 |
--------------------------------------------------------------------------------
| - on behalf of others                      |      9.4 |      9.8 |       9.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| OPERATING LEASE LIABILITIES                |     24.2 |     23.0 |      24.4 |
--------------------------------------------------------------------------------




DERIVATIVE CONTRACTS                                                            

--------------------------------------------------------------------------------
| MEUR          |    Nomi | Fair    |    Nomi | Fair     |     Nomi | Fair     |
|               |     nal |   value |     nal |    value |      nal |    value |
|               |   value |   30.9. |   value |    30.9. |    value |    31.12.|
|               |   30.9. |    2007 |   30.9. |     2006 |    31.12.|     2006 |
|               |    2007 |         |    2006 |          |     2006 |          |
--------------------------------------------------------------------------------
| Foreign       |    15.5 |     0.0 |     5.9 |      0.0 |      6.4 |      0.1 |
| currency      |         |         |         |          |          |          |
| derivatives   |         |         |         |          |          |          |
| - Forward     |         |         |         |          |          |          |
| agreements    |         |         |         |          |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Commodity     |     5.1 |     0.3 |     5.2 |      1.4 |      5.6 |     -0.4 |
| derivatives   |         |         |         |          |          |          |
| - Forward     |         |         |         |          |          |          |
| agreements    |         |         |         |          |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Currency      |    75.9 |     0.0 |     6.2 |      0.0 |      6.6 |      0.1 |
| swaps         |         |         |         |          |          |          |
--------------------------------------------------------------------------------


COMMERCIAL PAPER PROGRAMME                                                      

In February 2007, Uponor Corporation increased its EUR 100 million domestic     
Commercial Paper Programme to EUR 150 million. The proceeds of the programme    
will be used to fund short-term working capital needs.                          


SHARE-BASED PAYMENTS                                                            

At the end of September, Uponor Corporation's Board of Directors decided to     
launch a long-term incentive scheme for the members of the company's Executive  
Committee. To be eligible to participate in the scheme, an Executive Committee  
member must acquire a specific number of Uponor shares, as defined under the    
scheme, by the end of August 2008. Depending on the cumulative operating profit 
of Uponor during 2007-2011, and the number of shares acquired within the scheme,
each Executive Committee member is eligible for being awarded Uponor shares in  
the spring 2012. Until now, the Executive Committee members have not acquired   
any Uponor shares under this scheme, and therefore have not participated in the 
programme yet. The incentive plan did not have any impact on the result during  
the third quarter.                                                              

In February, the members of the Executive Committee received 71,500 shares in   
compliance with the share-based incentive scheme published on 6 May 2004. The   
share-based payments were expensed during 2004-2006 according to the IFRS 2     
standard.                                                                       


RELATED-PARTY TRANSACTIONS                                                      

--------------------------------------------------------------------------------
| MEUR                                       |     1-9/ |     1-9/ |     1-12/ |
|                                            |     2007 |     2006 |      2006 |
--------------------------------------------------------------------------------
| Net sales to associated companies          |      3.8 |      2.4 |       3.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Balances at the end of the period          |          |          |           |
--------------------------------------------------------------------------------
| Loan receivable from associated companies  |      1.1 |      1.1 |       1.1 |
--------------------------------------------------------------------------------
| Accounts and other receivables             |      0.7 |      0.6 |       0.4 |
--------------------------------------------------------------------------------
| Accounts and other liabilities             |      0.2 |      0.3 |       0.1 |
--------------------------------------------------------------------------------



KEY FIGURES                                                                     

--------------------------------------------------------------------------------
| MEUR                                       |     1-9/ |     1-9/ |     1-12/ |
|                                            |     2007 |     2006 |      2006 |
--------------------------------------------------------------------------------
| Earnings per share, EUR                    |     1.10 |     1.05 |      1.32 |
--------------------------------------------------------------------------------
| - diluted                                  |     1.10 |     1.05 |      1.32 |
--------------------------------------------------------------------------------
| Operating profit, %                        |     13.1 |     13.1 |      12.4 |
--------------------------------------------------------------------------------
| Return on equity, %, cumulative            |     32.5 |     24.4 |      25.3 |
--------------------------------------------------------------------------------
| Return on investment, %, cumulative        |     41.0 |     34.8 |      35.8 |
--------------------------------------------------------------------------------
| Solvency ratio, %                          |     43.0 |     57.2 |      53.6 |
--------------------------------------------------------------------------------
| Gearing, %                                 |     37.3 |     -5.0 |       6.3 |
--------------------------------------------------------------------------------
| Net interest-bearing liabilities           |    118.0 |    -21.1 |      21.7 |
--------------------------------------------------------------------------------
| Equity per share, EUR                      |     4.32 |     5.82 |      4.71 |
--------------------------------------------------------------------------------
| - diluted                                  |     4.32 |     5.81 |      4.70 |
--------------------------------------------------------------------------------
| Trading prices of shares                   |          |          |           |
--------------------------------------------------------------------------------
| - low, EUR                                 |    20.00 |    18.00 |     18.00 |
--------------------------------------------------------------------------------
| - high, EUR                                |    31.45 |    26.40 |     29.35 |
--------------------------------------------------------------------------------
| - average, EUR                             |    26.97 |    21.43 |     22.73 |
--------------------------------------------------------------------------------
| Shares traded                              |          |          |           |
--------------------------------------------------------------------------------
| - 1,000 pcs                                |   64,213 |   26,989 |    42,417 |
--------------------------------------------------------------------------------
| - MEUR                                     |    1,732 |      578 |       964 |
--------------------------------------------------------------------------------







DEFINITIONS OF KEY RATIOS                                                       


Return on equity (ROE), %	                                                      
	                                                                             
  Profit before taxes - taxes                                                   
= ------------------------------------------------ x 100                        
  Shareholders' equity + minority interest, average                             



Return on investment (ROI), %                                                   

  Profit before taxes                                                           
  + interest and other financing costs                                          
= ----------------------------------------- x 100                               
  Balance sheet total                                                           
  - non-interest-bearing liabilities, average                                   



Solvency, %                                                                     

  Shareholders' equity + minority interest                                      
= ----------------------------------------- x 100                               
  Balance sheet total                                                           
  - advance payments received                                                   



Gearing, %                                                                      

  Net interest-bearing liabilities                                              
= ------------------------------------------ x 100                              
  Shareholders' equity + minority interest                                      



Net interest-bearing liabilities                                                

= Interest-bearing liabilities - cash, bank receivables and financial assets    



Earnings per share (EPS)                                                        

  Profit for the period                                                         
= ------------------------------------------                                    
  Number of shares adjusted for share issue in                                  
  financial period excluding treasury shares                                    



Equity per share ratio                                                          

  Shareholders' equity                                                          
= ---------------------------------------                                       
  Average number of shares adjusted for                                         
  share issue at end of year                                                    



Average share price                                                             

  Total value of shares traded (EUR)                                            
= ----------------------------------                                            
  Total number of shares traded