As regards net income for the period January-March 2015, Ence reached a profit of Euro 9.7 million, compared with a loss of Euro 14.8 million in the 1Q 2014, thanks to cost-saving measures implemented as well as reducing production costs, rising pulp prices and the favorable evolution of the dollar for the company.
The positive evolution of accounts Ence - Energía y Celulosa in the 1Q leading to annualized to exceed Euro 150 million, which was the target set by the company for 2016 EBITDA.
Ignacio de Colmenares, Vice- Chairman and Managing Director of Ence, said: "The data from the beginning of 2015 confirms the good news with which we ended last year and make us optimistic about developments in 2015, year in which they comply with one year before the profit target marked on our results Recovery Plan. In the coming months we will focus our efforts on further improving our costs and maximize the good pulp prices and the dollar exchange rate."
Ence is one of the main European producers of eucalyptus pulp, the most important Spanish company in the production of renewable energy using forest biomass.
