The Governing Board of Grupo Europac (Papeles y Cartones de Europa, S.A.) has approved the accounts corresponding to the third quarter of the year. Between January and September, the company registered a consolidated EBITDA of Euro 81.5 million, 20.5% higher than Euro 67.6 million achieved in the same period of 2014.

印刷&书写纸

Europac increases its EBITDA by 20.5% to Euro 81.5 million

Nov 19, 2015. /Lesprom Network/. The Governing Board of Grupo Europac (Papeles y Cartones de Europa, S.A.) has approved the accounts corresponding to the third quarter of the year. Between January and September, the company registered a consolidated EBITDA of Euro 81.5 million, 20.5% higher than Euro 67.6 million achieved in the same period of 2014, as the company said in the press release received by Lesprom Network.

The EBITDA that had become stagnant in the 3Q was Euro 30.1 million, 46.5% more that last year and 11.1% more than the previous quarter.

The consolidated EBITDA was 81.50 million, confirming a sustained growth trend during four consecutive quarters.

The profit before tax between January and September was Euro 31.7 million, 89.4% more than the same period of 2014.

The reduction of the financial cost in 15.5% shall continue decreasing in the coming quarters after the signature of the new syndicated loan in July this year.

Moreover, the profit before taxes grew 89.4% to Euro 31.7 million and the EBIT registered Euro 45.5 million, 39.4 % higher than 2014. All this, in an environment with a slight increase of aggregate sales that reached Euro 814.8 million, 3% more than a year ago, and a reduction of the financial cost in 15.5%, which will continue dropping in the coming quarters after the signing of the new syndicated loan in July.

After the closure of the 3Q of the financial year, the consolidated EBITDA and the EBIT registered four consecutive quarters of sustained growth, which reflect a positive trend of the evolution of the activity carried out by Grupo Europac. The stagnant consolidated EBITDA and EBIT of the third quarter of the year exceeded the values of the previous year in 46.5% and 100%, respectively.

Enrique Isidro, executive vice-president of Grupo Europac said: "In an environment of aggregate sales similar to a year ago, the sustained improvement of the results of the company are the result of the increase in the margin of the Paper Division, which reached 15.1% compared to 12.8% of the same period in 2014 and the reduction of the financial costs. Moreover, in the Packaging Division, we have started the margin recovery process, penalised with the increase of the cost of its raw material”.

The Europac Group 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.