As of June 30, 2013 total EBITDA was Euro 16.5 million, an appreciable improvement over the Euro 14 million for the same period in the previous year. EBITDA is still impacted by Euro 0.9 million in costs generated by establishments whose paper production activities have ceased.
As of June 30, 2013, the Consolidated Operating Profit (EBIT) of the RDM Group was positive at Euro 4.1 million, also an improvement compared to the profit of Euro 0.9 million reported in the first half of 2012.
As of June 30, 2013 the RDM Group capital expenditures totaled Euro 5.6 million (Euro 5.8 million in the first half of 2012).
Reno De Medici ended the first half of 2013 with a profit of Euro 0.2 million at a consolidated level, compared to a loss of Euro 3.9 million during the same period of the previous year. Consolidated net financial debt of RDM Group at June 30, 2013 amounted to Euro 87.9, compared to Euro 86.3 million at December 31, 2012.
The outlook for the remainder of 2013 is related to the macroeconomic and sector scenario with a possible recovery of volumes sold in 2014. The flow of orders, however, is expected to be satisfactory. Revenues and margins should benefit from the increases in the price schedule recently prepared.
As far as the trend in costs for the main production factors, recovered fiber prices could increase only in a case of a recovery of exports toward China, which, as of today, does not seem probable on the base of forecasts on the evolution of Chinese internal consumption.
Furthermore it’s reasonable to expect a decrease in energy costs (natural gas and electricity), due to current excess of supply of energy products and services.
The Reno De Medici Group is the leading Italian and second-ranked European producer of cartonboard based on recycled material. It has a production capacity splitted among several mills in Italy, Spain, France and Germany.