2015 EBITDA rose 1.5% on the year to Euro 126 million (2014: Euro 124 million), and EBITDA margin edged up by 0.1 point to 3.8% of sales.
Net loss of Euro 67 million, reflecting Euro 76 million in non-recurring expenses related to restructuring measures and asset write-downs taken in 2015
Consolidated net debt was cut by Euro 76 million to Euro 235 million and the consolidated Net debt/EBITDA ratio now stands at 1.9 (2.5 in 2014).
Commenting on the full-year results, Sequana’s Chairman and CEO Pascal Lebard said: “2015 has been a pivotal year for Sequana. Our results for 2015 are better than those for 2014 but they do not yet reflect all of the beneficial impacts of the industrial restructuring completed this year. Sequana was also able to finalise its financial restructuring plan in 2015 and consolidated net debt was reduced to Euro 235 million, i.e., a consolidated Net debt/EBITDA ratio of less than 2. 2016 – which will be the first full year of operations of the new-look Group – should enable us to reap the full benefits of the restructuring measures. The Group's priorities remain enhancing its operating performances and keeping a tight rein on its consolidated debt and net debt/EBITDA ratio.”
Sequana is a major player in the paper industry, boasting leading positions in each of its two businesses: distribution of paper and packaging products and technical papers.