Electricity sector regulatory reform in Spain, coupled with the challenging state of the paper market, undermined the Iberpapel Group’s earnings in 2013. Nevertheless, its financial strength and high efficiency levels enabled it to present a net profit of Euro 7.3 million (Euro 17.4 in 2012, a figure that included a non-recurring gain of Euro 4.5 million).

Iberpapel Group posts net profit of Euro 7.3 million in 2013

16:46 / 二月 25, 2014

Feb 25, 2014. /Lesprom Network/. Electricity sector regulatory reform in Spain, coupled with the challenging state of the paper market, undermined the Iberpapel Group’s earnings in 2013. Nevertheless, its financial strength and high efficiency levels enabled it to present a net profit of Euro 7.3 million (Euro 17.4 in 2012, a figure that included a non-recurring gain of Euro 4.5 million), as the company said in the press release received by Lesprom Network.

Papelera Guipuzcoana de Zicuñaga, the Iberpapel Group’s industrial subsidiary, owns two power generation facilities regulated by Spain’s special renewable energy regime: a combined cycle cogeneration facility and a biomass plant.

The retroactive application of the new electricity tariffs had the effect of reducing the Iberpapel Group’s revenue from energy sales by 8.37% to Euro 46.1 million with respect to 2012 levels (Euro 50.3 million).

The Group generated Euro 21.9 million of EBITDA (Euro 33.05 million in 2012). Revenue from sales narrowed 2.95% year-on-year to Euro 209.8 million (from Euro 216.13 million in 2012). Group revenue totalled Euro 215.1 million.

On 18 February 2014, the Board of Directors agreed to pay a pre-tax interim dividend of Euro 0.15 per share.

Iberpapel is an integrated paper group and one of the main players in Spain’s printing and writing paper market.

Lesprom Network

Iberpapel Group posts net profit of Euro 7.3 million in 2013

Tags

主题

市场