Ence - Energía y Celulosa has presented its Strategic Plan 2019-2023, which aims to achieve an EBITDA of Euro 550 million within five years, at constant pulp prices. Thus, it foresees that the cellulose business will increase its EBITDA to Euro 400 million and that of energy up to Euro 150 million in 2023.
Ence will carry out a productive investment plan of Euro 1,100 million over the next five years, in order to boost its growth and diversification to take advantage of the clear opportunities for growth that are presented to the company. The investments will respect the maximum leverage levels established by the company after paying 50% of the net profit in dividends: 2.5 times net debt/EBITDA in the Pulp business and 4.5 times in the Renewable Energy business.
Ignacio Colmenares, CEO of Ence, said: "We will make the most of the important opportunities in the pulp and energy market, and we will practically double our EBITDA in 2023, always respecting the maximum limits of leverage that we have marked and maintaining the pay-out of 50%".
Ence will allocate between Euro 125 and Euro 225 million to continue moving towards excellence in sustainability, which is a strategic priority for the company.
Ence is one of the main European producers of eucalyptus pulp, the most important Spanish company in the production of renewable energy using forest biomass.
