Despite a difficult business environment during the 2Q 2016, Bio Pappel continued improving its operations, developing its market initiatives, reducing its costs and SG & A and operating synergies, which allowed us to get a record EBITDA of $1,084 million pesos which represents an increase of 76% when compared with $616 million pesos obtained in the 2Q 2015.
During the 2Q net sales increased 44% from $4,071 to $5,853 million pesos, as a result of an increase of 27% in
Shipments going from 346 to 439 thousand tons, and an increase of 13% in unit sales prices, going from $11,753 pesos in the 2Q 2015 to $13,323 pesos in the 2Q 2016, due to a higher value added products.
During the first half, net sales increased 47% compared with the same period last year, due to a 26% increase in shipments and a 17% increase in the unit selling price.
As a result of the above initiatives, the company earned a record EBITDA of $1,084 million pesos, which represents an increase of 76% when compared against $616 million pesos in the 2Q 2015.
Cumulatively at the end of the first half of 2016 the company has a $1,828 million pesos EBITDA, which represents a 60% growth compared to $1,145 million pesos generated in the first half of 2015.
EBITDA margin this quarter was 18.5%, compared with 15.1% the same quarter in 2015.
