Jul 28, 2005. /Lesprom Network/. ENCE's second quarter net profit that achieved Euro 16.92 million, is 27% above the amount earned in second quarter 2004 as a result of the rise in pulp prices per tonne both in dollars and in euros, along with a greater profit contribution from the forestry and electric power businesses, especially the latter, giving rise to cumulative profits of Euro 30.12 million for first-half 2005, a 41% increase over the first-half 2004 figure. EBITDA for second quarter 2005 of Euro 42.68 million exceeds the corresponding second quarter 2004 figure by 20%. EBIT of Euro 29.42 million is 27% compared to second quarter 2004 and was earned as follows: the forest division contributed Euro 4.78 million, an increase of 5% over second quarter 2004, resulting from greater sales to third parties of logs, chips and elaborated wood, as well as services, which more than compensated for adjustments for exchange differences in American wood harvests. The pulp division contributed Euro 24.64 million, an increase of 33% over second quarter 2004, mainly due to the growth in volume sold of both energy and pulp and improved prices. At the general shareholders’ meeting of June 14 a complementary dividend of Euro 0.30 per share was approved against 2004 earnings. This dividend, when added to the three interim dividends already paid out, makes a total dividend yield of Euro 0.66 per share corresponding to the past year, about 3% of the share’s average trading price for the period, which at year end had increased by 31%. Payment of this dividend was effected on June 20. Sales to third parties of electricity and forest products, consultancy and services in the rural environment in second quarter 2005 amounted to 25% of the consolidated billings of the Group and 22% on an accumulated basis for first-half 2005. During the second quarter a new market for wood chips from Uruguay was opened in Sweden. Gaining entry as a supplier to a country of long tradition and experience in forest-based industries, which has now commenced importing eucalyptus chips as a raw material, has been an historic milestone. The Huelva mill has applied for Integrated Environmental Authorization two years in advance of the effective date of the Law of Prevention and Integrated Control of Contamination (IPPC) and six months in advance of the commitment date made in the voluntary agreement signed with the autonomous government of Andalusia. ENCE is an Iberian and American integral wood-transforming forest company. Within the European macro-sector of forest-based industries, ENCE's business is developed following the parameters of environmental sustainability and the maximum ecological performance for its products. ENCE is the number one owner of eucalypt timberland in Europe as well as being the leading producer in Europe and number two in the world of eucalyptus-based pulp.