The Europac Group reported 3Q 2018 net profit of Euro 79.1 million, 35.8% higher than in the same period of 2017. With growth in aggregate sales of 7.6% to stand at Euro 943.6 million, the consolidated and recurrent EBITDA figures rose by 27% and 50.9% compared to the 3Q of last year, amounting to Euro 150.2 and Euro 157 million, respectively. Additionally, consolidated EBIT over the period stood at Euro 113.6 million, 45.7% higher than in the first nine months of 2017, as the company said in the press release received by Lesprom Network.
In a context of moderate growth of economic activity, the evolution of the results continues favoured by solid paper demand, sale price stability at high levels following the accumulated rises in the year to date and continued low prices of raw materials. These circumstances, together with higher sale prices of packaging, in line with group forecasts, turns into a consolidated EBITDA margin of 21.1%, up 2.6 percentage points on the first nine months of 2017.
Europac Chairman José Miguel Isidro, said: “The company results between January and September respond to higher paper sale prices combined with lower raw material prices and the efforts made by the Packaging Division to pass on price rises of its raw material to the market. Management projects executed in recent years as well as the integrated business model that defines Europac, allow us to optimize the results in a favourable market context such as that experienced between January and September of this year”.
Europac is a leading, Spanish listed, approximately 42% family owned, highly complementary, vertically integrated packaging business.
