In a context of a slight increase in sales, which grew 2.8% reaching Euro 1,083.7 million in 2015, the increase in the results can be explained by the management improvements with the implementation of internal commercial and operational processes, the increase in volume, the decrease in financial cost and, to a lesser extent, to the evolution of the market.
Internal management projects had an impact of Euro14.3 million in 2015. From this, Euro 4.3 million corresponds to the Packaging Division and Euro 10 million to the Paper Division. The new syndicated loan executed in July entailed a 20.3% reduction of the financial cost thanks to the reduction of the debt volume and better funding costs. Moreover, 2016 shall be the first complete year in which the group shall benefit from the advantages of the new syndicated loan.
José Miguel Isidro, executive president of Europac Group, asserts that “these results, notably better than 2014, confirm the positive evolution of our business and the sustained growth trend. The structural impact that the internal management projects executed in 2015 shall have in the coming years shall be worthy of mention”.
In this respect, he added, “Europac reaches each of the milestones to achieve the objectives defined in the Strategic Plan and these results represent the basis on which to continue growing in the coming years.”
The Europac Group (Papeles y Cartones de Europa, SA) is an integrated operator with activities in all areas of the paper and packaging industry value chain, from end-to-end waste management and forestry operations for the procurement of the raw materials necessary for the production of recycled paper and kraftliner at the Group’s plants in Spain, France and Portugal, to the manufacture of cardboard sheets and boxes as end products.
