Ence – Energía y Celulosa reported 22.3% increase of Adjusted EBITDA amid 16% net revenues growth in 1Q2017 y-o-y. According to the announcement, the company’s revenues accounted for EUR 174.2 million, generating Adjusted EBITDA of EUR 40.8 million in the period (23% margin).
Ignacio de Colmenares, CEO of Ence, commented:
“The significant improvement in Ence’s results in the first three months of the year is a clear indication of the strength of the company’s business and of the good progress in the execution of our Strategic Plan. The significant reduction in pulp costs and the growth of the energy business show that we are on the right track.”
In 4Q2016 Ence decreased EBITDA margin from the previous quarter to 24%.
The company is the leading producer of eucalyptus pulp in Europe with a capacity of 930ktpa and is the second company by sales on the continent. The company exports much of its pulp production through advanced logistics network and the quality of its products, which include TCF pulp, which is produced entirely without chlorine and is highly valued in the countries of northern Europe.