Ence has closed the 2024 financial year with a net profit of Euro 31.6 million compared to a loss of Euro 24.7 million in the same period of the previous year.
This net attributable profit reflects the improvement in the price of pulp and cost reduction in the whole year, despite the fact that in the fourth quarter of the year there has been a correction in the price of this raw material and a temporary upturn in cash cost.
In relation to the company’s main parameters, EBITDA ended the year at Euro 164.5 million, almost doubling Euro 88.8 million of 2023. Celulosa’s gross operating profit, for the year as a whole, increased threefold to Euro 138.2 million, slowing down in the Q4 of the year. EBITDA generated from energy sales improved 50% year-on-year in 2024 to Euro 32 million, driven by higher generation volumes and lower operating costs.
Meanwhile, net sales amounted to Euro 876.2 million, up 5.6% year-on-year in 2023.
Cash flow generated before changes in working capital and investments in growth and sustainability enhancement amounted to Euro 101 million in 2024, compared to Euro 26 million in 2023.
The Group’s net financial debt at the end of the year, including lease liabilities, stood at Euro 321 million, of which Euro 242 million corresponded to the Pulp business and Euro 79 million to the Renewables business. The strength of the Group’s balance sheet and the expected cash generation provide a solid basis for achieving the diversification targets set for both businesses.
Ence is the leading European company in eucalyptus pulp production and the second in terms of market share.
