Iberpapel Gestión S A : reports year-on-year net profit growth of 42.16%
July 28, 2023 at 07:09 am
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Iberpapel reports year-on-year net profit growth of 42.16%
Jul 28, 2023
Iberpapel reported €10.72 million of net profit in the first six months of 2023, year-on-year
growth of 42.16%, despite the slowdown in demand in Europe and growth in imports from
Asian countries, which prompted a reduction in paper sales.
Revenue from energy sales also declined during the first half due to the partial stoppage of the
gas CHP plant on account of its scant profitability in the current price and market environment.
As a result, revenue declined by 17.86% to €134.66 million. However, EBITDA registered
growth of 31.64% to €19.5 million, up from €14.83 million in 1H22. This growth was shaped
by a reduction in variable costs, mainly the cost of energy and some raw materials, albeit still
above the levels observed prior to the energy crisis, as well as astute sales management by
Iberpapel.
Iberpapel Gestion SA published this content on 28 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2023 11:08:34 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.