When comparing the figures with the previous quarter net sales increased 1.6% driven mainly by a 9.3% increase in the Paper Segment.
The Company achieved an EBITDA of $34.7 million during the 1Q 2015, which was lower compared with the $40.5 million presented in 1Q 2014 as a result of the peso devaluation of 16.5%.
In peso terms the EBITDA was PS$529.3 million pesos in the 1Q 2015, similar to the one obtained in the same period of last year.
Against 4Q 2014, the Company’s EBITDA presented an increase of 14.5%, from $30.3 million to $34.7 million recorded in 1Q 2015.
In peso terms, EBITDA increased 26% when comparing PS$529.3 million pesos recorded in 1Q 2015 vs PS$420.1 million pesos recorded in 4Q 2014.
Bio PAPPEL’s shipments increased by 7% when compared to last year’s figures. It represents 2.8 times Mexican GDP growth. When comparing with 4Q 2014, shipments presented an increase of 9.3%, 3.7 times the Mexican GDP growth.
Commenting on the Company’s results and outlook, Miguel Rincon, Bio PAPPEL’s Chairman and CEO, said: “1Q 2015 results reflect our company´s solid fundamentals despite the lagged economic recovery in México and the peso devaluation which immediately impacted our dollar denominated costs and it is not yet reflected in our dollar pricing.”
Bio PAPPEL, S.A.B. de C.V. is the largest integrated paper producer in Mexico and with operations in the USA.
