Feb 22, 2016. /Lesprom Network/. Portucel Group's FY 2015 turnover stood at Euro 1.6 billion, the highest figure ever recorded, reflecting an increase of approximately Euro 85.7 million in relation to 2014 up 5.6%, resulting essentially from the increase in pulp and paper prices, caused by the strength of the dollar against the euro, as the company said in the press release received by Lesprom Network.

Inclusion of figures for tissue business in the Group's consolidated accounts contributed to the growth recorded. Paper sales accounted for 75% of turnover, with energy representing 12%, pulp 9% and tissue paper approximately 3%.

Consolidated EBITDA rose strongly to Euro 390 million, representing an increase of approximately Euro 61.6 million in relation to 2014.

The figure recorded for EBITDA also reflects a positive contribution of Euro 8 million from AMS' operations, as well as a negative figure of approximately Euro 10.9 million in relation to the Mozambique project and the new pellets project in the United States, both still at the investment stage. Also significant was the negative impact of Euro 3.8 million resulting from application of the anti-dumping tax in the United States.

The EBITDA / Sales margin also improved, standing at 24%. Operating cash flow stood at Euro 303.6 million, up by 4.1% on the same period in 2014. Operating income also improved significantly, up by 29.6% to Euro 282.9 million.

The Group recorded a financial loss in the period of Euro 50.3 million, as compared with a negative result in 2014 of Euro 34.2 million.

Consolidated net income for the period stood at Euro 196.4 million, representing growth in relation to 2014 (up by 8.2%).

Portucel is Europe’s largest producer of uncoated wood-free paper.