Such rise is mainly due to higher sold volumes, equal to 630,000 tons, in the first nine months of 2015 (such amount does not include the Spanish subsidiary Company Reno De Medici Ibérica S.l.u. for the aforementioned reasons) vs. the 611,000 tons of the first nine months of 2014.
In the first nine months of 2015 the Gross Operating Profit (EBITDA) was Euro 34.1 million, compared to Euro 33.7 million as at September 30, 2014. Such increase reflects the lower energy cost and the decline in other production costs, also due to the full efficiency of the S. Giustina mill, whose production in 2014 was penalised by the commissioning of the new equipment.
The increase in operating profitability results in being even more significant when adjusted by the impact of the Energy Efficiency Certificates, which in 2014 were granted for a higher amount following the completion of five-year projects. As at September 30, 2015, Operating Profit (EBIT) amounts to Euro 15.9 million, compared to Euro 16.8 million recorded as at September 30, 2014.
In the first nine months of 2015, the RDM Group reached a net profit of Euro 10.1 million, vs. Euro 10.6 million as at September 30, 2014. Such a result indicates an improvement in profitability when compared with the result of the first nine months of the previous fiscal year net of the EEC contribution, thanks to the sound performance of operations and lower Financial Expenses.
The Reno De Medici Group is the leading Italian and second-ranked European producer of cartonboard based on recycled material.
