EBIT up to 30 September stood at Euro 40.65 million, a 51% increase against the same period in 2012, while net profit totalled Euro 17.30 million, 163% more than the Euro 6.58 million earned in the first nine months of 2012.
The 1Q of the year showed greater sales volumes across all business divisions and selling prices of recycled paper and kraftliner paper improved, whereas lower earnings for the packaging division were directly related to the increased cost of raw materials.
In connection with energy, Europac's Managing Director Enrique Isidro says: “The general improvement in results for the 3Q has again been adversely affected by energy reforms in Spain in December 2012 and July 2013, reducing the competitiveness of Spanish recycled paper in Europe”.
The Europac Group (Papeles y Cartones de Europa, SA) 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.