Iberpapel Gestión S A : reports a profit of €3.93 million in the first quarter of 2024
May 06, 2024 at 04:17 am EDT
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Iberpapel reports a profit of €3.93 million in the first quarter of 2024
May 06, 2024
Sector production improved notably in the first quarter of 2024, having corrected sharply in the same quarter of last year. Although prices have been showing signs of recovery since the middle of the reporting period, they are still far below the near-record levels of 1Q23.
As a result, Iberpapel reported a net profit of €3.93 million in 1Q24, year-on-year growth of 0.64%. EBITDA amounted to €7.68 million, down 6.93% from 1Q23. Revenue came in at €62.11 million, a year-on-year decrease of 12.78%.
Electricity sales contracted by 35.40% due to an unusual market situation marked by very low prices, preventing the use of our co-generation facilities for much of the reporting period.
(€ million)
1Q24
1Q23
Revenue
62.11
71.22
EBITDA
7.68
8.26
Profit after tax
3.93
3.91
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Iberpapel Gestion SA is a Spain-based holding company engaged in the paper industry. The Company operates through three divisions: Forestry, involved in the acquisition and cultivation of eucalyptus plantations in Argentina, Uruguay and Spain; Industrial, focused on the production of bleached pulp and paper products, and Commercial, specialized on the distribution of products such as printing and photocopy paper, offset paper, light-coated paper, laser printing paper, paper bags and envelopes. The Companyâs subsidiaries include Distribuidora Papelera SA, Moliner Dominguez y Cia SA, Ibereucaliptos SA, Papelera Guipuzcoana de Zicunaga SA, Central de Suministros de Artes Graficas Papel SA and Copaimex SA, among others. The Companyâs major shareholders include ONCHENA, SL and BESTINVER GESTION, SA.