The Board of Directors of the Europac Group has approved the accounts corresponding to the 1Q 2018, registering a net profit of Euro 25 million, 126% higher than in the same period the previous year, as the company said in the press release received by Lesprom Network.
Compared with the 1Q 2017, aggregate turnover was up by 13%, to Euro 318 million, while the consolidated and recurrent EBITDA figures rose respectively by 59% and 70%, amounting to Euro 49 and Euro 50 million, respectively.
The increases in the sale price of paper and the downturn in the price of recovered paper used as the raw material led to an increase in the EBITDA Margin of 6.2 percentage points, standing at 21%. Meanwhile, the consolidated EBIT was Euro 37 million, almost double the figure achieved a year ago.
Europac Chairman, José Miguel Isidro, stated: "This is the best quarter in the company's history, although it should be borne in mind that the result is being compared with the 1Q 2017, a year which began slowly before ramping up. Compared with the final quarter of 2017, the result reflects the gradual trend of sustained growth within a market context that has progressively improved quarter by quarter". In this regard, the increase in recurrent EBITDA was 18% compared with the last quarter of 2017.
The Europac Group 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.
