ENCE Energía y Celulosa, S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 05:39 am EDT
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ENCE Energía y Celulosa, S.A. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was EUR 296.1 million compared to EUR 162.7 million a year ago. Net income was EUR 30.4 million compared to net loss of EUR 34.6 million a year ago. Basic earnings per share from continuing operations was EUR 0.13 compared to basic loss per share from continuing operations of EUR 0.14 a year ago.
For the six months, sales was EUR 458.8 million compared to EUR 553.7 million a year ago. Net loss was EUR 4.2 million compared to net income of EUR 44.7 million a year ago. Basic loss per share from continuing operations was EUR 0.02 compared to basic earnings per share from continuing operations of EUR 0.18 a year ago.
Ence Energia y Celulosa SA, formerly Grupo Empresarial ENCE SA, is a Spain-based company engaged in the operation of pulp mills. The Company' activities are divided into two business units: Pulp and Energy. The Pulp business unit is subdivided into three segments: Pulp, manufacturing pulp and pulp derivatives, such as lignin and biomass, as well as co-generating energy; Forest Management, providing forest crops and wood raw materials, and Forest Services & Other, including residual business activities, as well as forest support services. The Energy business unit focuses on generating energy using forestry and agricultural biomass, as well as, thermos and solar electric energy generation. The Company operates pulp mills and power generation plants in Spain.