The Board of Directors of the Europac Group (Papeles y Cartones de Europa, S.A.) has approved the accounts for 2016, which recorded an increase in net profit of 51% to a total of Euro 48.9 million.
Consolidated EBITDA amounted to Euro 126.6 million, 14% up on the Euro 111.1 million of the previous year, while recurring EBITDA totalled Euro 122.8 million, 5% up on the previous year.
Net profit amounted to Euro 48.9 million in 2016, compared with Euro 32.4 million in 2015.
The EBITDA margin rose by 2 percentage points to 15.8%, while EBIT amounted to Euro 77.7 million, 24% up on Euro 62.5 million recorded in the previous year.
In the Paper Division, the increase in sales volume, the improvements in productivity and efficiency and the positioning in paper with higher added value, offset the fall in sales prices.
With regard to the Packaging Division, results improved due to the fall in the price of the raw materials and operational and commercial improvements.
The Executive Chairman of the Europac Group, José Miguel Isidro, said: “These results confirm the trend for improvement recorded in the previous year and the positive development of our business in the context of an adverse market characterised by the fall in paper sales prices and the pressure on the price of the raw material”.
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.
