Ence – Energy and Pulp recorded a net profit of more than Euro 3 million in the Q4 2023, thus returning to the path of profits thanks to the cost reduction achieved and the start of the recovery of the price of pulp.
The first three quarters of the year were marked by low pulp prices, which hit rock bottom in the month of August, such that the result for the year stood at - Euro 25 million. Since then, and until now. Prices have recovered more than 40%. Likewise, the main producers have announced increases additional.
From an operational point of view, a 15% increase in pulp production stands out in the fourth quarter compared to the previous one, to exceed 266,000 tons. Likewise, the 2023 financial year was characterized by the significant cost reduction achieved, of Euro 180 in the cost per ton of pulp, bringing the cash cost up to Euro 455/t.
Ence’s special pulps, more sustainable and adapted to replace long fiber and plastics, continue gaining market share, growing to reach 28% of total pulp sales in the Q4 2023, and 22% for the year as a whole.
The Group’s consolidated operating result (EBITDA) reached Euro 25 million in the fourth quarter and Euro 89 million in 2023.
Ence is the leading European company in eucalyptus pulp production and the second in terms of market share.
