This increase of Euro 4.2 million was achieved despite the shrinking of some markets (construction and milk powder for the Sacks activity) and continued streamlining of the product ranges.
EBITDA has increased by over 50% from Euro 11million in 2014 to Euro 16.7 million in 2015 despite the significant rise in the prices of wood which meant an extra cost of Euro 8.5 million as compared to 2014.
This extra cost was nevertheless offset (Euro 7 million) in part by two other macro-economic factors: the drop in the price of oil and the strengthening of the dollar in relation to the Euro.
The measures taken to cut costs have begun to bear fruit with a lowering of staff costs (including temporary work) of Euro 5.3 million (- 5.6%) and better management of energy consumption (Euro 2 million not counting the drop in the price of fuel oil).
The underlying operating profit increased from Euro 0.8 million to Euro 7.7 million.
The operating profit is Euro 9.7 million and integrates other non-operating income and expenses for a total of Euro 2 million.
The net profit of the consolidated whole stands at Euro 7.1 million as compared to Euro 5.7 million in 2014, an improvement of Euro 12.8 million.
The Gascogne Group is the leading player in the wood industry in France, operating at every stage of the processing of forest resources, and the only player in France that is totally integrated along the complete wood-paperprocessing chain.
