The Altri Group surpassed the Euro 1,000 million mark in revenue for the first time, benefiting from the high volume of fiber production, from the growth in sales, but also from the rise in prices in international markets.
Total revenues, which include other income, reached Euro 1,066.2 million, a growth of 34.4% compared to 2021, while EBITDA reached Euro 301.4 million in 2022, an increase of 32.4% compared to 2021. The EBITDA margin of 28.3% showed resilience despite the strong inflation of the various variable costs felt during the past year.
“Despite the difficult context, the year 2022 reinforced operating results, with Euro 301.4 million in terms of EBITDA (+32.4%), as well as the net result (continued operations) which amounted to Euro 152.1 million”, notes José Soares de Pina CEO of Altri. This result translates into a growth of 23% compared to 2021.
Through Caima, Celbi and Biotek, the Altri Group presented a record total volume of cellulosic fibers produced of 1,142.6 thousand tons, 1.5% above the registered in the previous year, a performance revealing the growing efficiency of the various production units in Portugal.
In terms of sales, there was a year-on-year decline (-4%) to 1,107.6 thousand tons in total for 2022, which is explained by the year-on-year drop of 9% recorded in the last quarter of the year due to some slowdown in demand.
A large part of the Altri Group's cellulosic fibers were sold in international markets, which absorbed 85% of the total.
In 2022, the Altri Group continued to invest in its various production units, including maintenance, environmental and growth projects.
Investment increased by 73.5% to Euro 45.3 million, but net debt shrank. “Despite this strong investment, we present a solid financial position, reducing our already low level of net debt (1.1x EBITDA), which allows us to maintain the financial flexibility to seize future opportunities in the bioeconomy”, adds the CEO of Altri.
Altri is a leading Portuguese eucalyptus pulp producer and one of the most efficient European producers.
