Feb 26, 2013. /Lesprom Network/. Ence's net profits increased by 4% in 2012, after attaining Euro 43 million in 2012, thanks to an improvement in costs and competitiveness achieved over the year, and thanks also to the positive operating performance of the company. Of particular note is the fact that the growth in results for the last quarter of the year -which stood at Euro 14.2 million and represents an 11% increase over the previous quarter -, illustrates the progressive recovery of Ence's results throughout the year. The result of 4Q12 is four times compared to the same quarter of 2011, as the company said in a press release received by Lesprom Network. The improved competitiveness of the company is reflected in the significant 6% decrease of the average cash-cost (total unitary cost) for the year to stand at Euro 344/t, which facilitates Ence's penetration in international markets and, in particular, in the European market where it currently holds a share of 15%. This decline in cash-cost amounted to 12% from the Euro 393/t maximum attained in the 4Q of 2010. This downward cash-cost trend was possible due to greater efficiency in the industrial process as well as greater control of wood prices, a trend that is expected to continue in the upcoming year as the weight of imported wood in the consumption mix is reduced and new cost efficiencies are achieved in supply. The turnover figure in 2012 increased to Euro 828 million, similar to the Euro 825.5million attained the previous year. The operating results of Ence revealed a solid performance during the year. Thus, the adjusted 2012 EBITDA amounted to Euro 175 million, 15% above the figure recorded in 2011. Net of the impact of hedging, severance payments and provisions, the EBITDA of 2012 amounted to Euro 139 million, in line with that achieved the previous year. Currency hedges are expected to have a positive impact in 2013, which at the close of 2012 had a market value of Euro 11 million. Excluding depreciation/amortisation, provisions, financial results and taxes, the company reported a net profit of Euro 43 million in 2012, up 4% on 2011. Due to the strength of the pulp and energy businesses, operations continue to generate a solid cash flow of Euro 93 million in 2012. The positive evolution of pulp prices together with the expected decrease in costs will maintain the positive cash generation in 2013. The net financial recourse debt stood at Euro 201 million. The company continues to be a benchmark for financial discipline in the industry, closing out the year with a net financial debt/EBITDA ratio of 1.4x for the past 12 months.