When comparing the first six months of the year with last year’s same period, net sales increases by 3.7%, with a 2.9% increase in Paper Segment and a 4.3% increase in Packaging and Converting Segment.
On a quarterly basis the Company achieved an EBITDA of $37.8 million, which represents a 10.8% growth when compared to $34.1 million reported in the same period of last year, mainly as a result of higher pricing and higher volume, in spite of higher costs.
For the first six months of 2014, EBITDA reached $78.3 million, representing a 5.4% increase compared with the first six months of 2013.
Commenting on the Company’s results and outlook, Miguel Rincon, Bio PAPPEL’s Chairman and CEO, said: “Sound operating fundamentals allowed the company to achieve a solid performance in the second quarter in spite of weak and lack of luster of the Mexican and US economy”.
Bio PAPPEL, S.A.B. de C.V. is the largest integrated paper producer in Mexico and with operations in the USA.
