Iberpapel recognised a net profit of Euro 10.33 million in the first six months of 2024, with the market showing signs of slight recovery.
Destocking by customers and the increase in pulp prices boosted demand for and production of European UWF paper. Prices trended somewhat higher during the second quarter but remain considerably lower year-on-year (having reached record levels in the same period of last year).
The Group was also affected by exceptionally low electricity prices which, despite the operating improvements made, obliged it to idle the co-generation plant for 40% of production time, with a significant impact on earnings.
In this complex environment, Iberpapel recorded first-half EBITDA of Euro 17.72 million, down 9.22% from 1H 2023. Revenue amounted to Euro 123.71 million, a year-on-year decrease of 8.13% from the Euro 134.66 million reported in 1H 2023.
Iberpapel is a vertically-integrated paper group. It is one of the leading players in the printing and writing paper segment in Spain.
