Iberpapel Gestión S A : doubles profits, with sales back at pre-pandemic levels, despite energy prices
February 28, 2022 at 06:13 am
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Iberpapel doubles profits, with sales back at pre-pandemic levels, despite energy prices
Feb 28, 2022
The revisitation of the physical sales volumes of 2018 and 2019 drove Iberpapel's net profit to €9.29 million, growth of 119% from 2020.
Earnings were nevertheless substantially impacted by the increase in gas prices in the last quarter of the year, which had a domino effect on other energy prices and commodity costs. In response to that inflationary energy scenario, at the start of the third quarter, Iberpapel took corrective measures, specifically including an awareness-raising campaign among its customers explaining the gravity of the situation and the need to increase the sales prices of the group's products.
Iberpapel's efficient management throughout the year drove EBITDA 10.13% higher to €21.07 million. Revenue increased by 55% from 2020 to €237.23 million thanks to growth in sales of paper, electricity and timber of 46%, 90% and 170%, respectively.
(€ million)
2021
2020
Revenue
237.23
152.88
EBITDA
21.07
19.13
Profit after tax
9.29
4.24
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Iberpapel Gestion SA published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 11:11:18 UTC.
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.