Ence - Energía y Celulosa - achieved a net profit of Euro 91.8 million in 2017, or 138.6% more than Euro 38.5 million in 2016, and earnings per share grew by 142.4%. Ence's EBITDA increased by 72% to reach Euro 216 million.

Zellulose

Ence's FY 2017 net profit soared 139% to Euro 91.8 million

Ence - Energía y Celulosa - achieved a net profit of Euro 91.8 million in 2017, or 138.6% more than Euro 38.5 million in 2016, and earnings per share grew by 142.4%. Ence's EBITDA increased by 72% to reach Euro 216 million, as the company said in the press release received by Lesprom Network.

Ignacio Colmenares, CEO of Ence, stressed that "this remarkable increase in profits confirms once again the success in executing our Strategic Plan, which is already in its equator and has led to strong growth and improvement in our business margins. This, together with the increase in cellulose prices that we expect to continue this year, allows us to expect the 2018 results to be significantly better than last year's."

Recurrent free cash flow grew 52.4% and net financial debt decreased 29.8% after strong investments and increased dividend. Leverage was reduced up to 0.7 times EBITDA, compared to 3.2 times the sector average.