May 10, 2013. /Lesprom Network/. 1Q net revenues of the Reno De Medici Group totalled Euro 122.7 million, compared to the Euro 116.6 million generated in the 1Q 2012, largely due to higher sales volume: 227 thousand tons sold in 1Q 2013, compared to the 208 thousand tons sold in the same period of previous year. Moreover, the quarter saw an improvement in the geographic mix, with the fall in tons sold in overseas markets, and the increase in sales in markets with greater margins, as the company said in a press release received by Lesprom Network.

1Q EBITDA stands at Euro 8 million, compared to Euro 7.2 million in the same period of previous year.

Reno de Medici posts Euro 0.2 million loss in 1Q 2013 compared to a loss of Euro 2.1 million in 1Q 2012.

1Q consolidated operating Profit (EBIT) of the Reno de Medici Group was positive by Euro 1.8 million, compared to a profit of Euro 0.7 million reported in the 1Q 2012.

In the 1Q 2013 the Reno de Medici Group made capital expenditures totaled Euro 2.2 million (Euro 3.3 million as of March 31, 2012).

As of March 31, 2013 consolidated net result was negative for Euro 0.2 million, compared to a loss of Euro 2.1 million as of March 31, 2012.

Consolidated net financial debt of Reno de Medici Group as of March 31, 2013 was Euro 87 million, in line compared to Euro 86.3 million figure as of December 31, 2012.

The general macroeconomic context of the 1Q 2013 does not display any substantial changes compared with the last quarter of 2012, but the most recent economic forecasts predict a slight worsening of the outlook for the rest of the year compared with initial expectations. In this context, European demand for white lined chipboard for packaging produced from recycled fibers still remains very weak for the quarter, at around the same levels as the 1Q of the previous year, but with significant growth of 6.6% compared with the previous quarter.

The specific outlook for the sector is better than the general macroeconomic picture: production is at full capacity and the backlog of orders is satisfactory, with a consequent benefit of production efficiency, thanks to the reduction in global production capacity and the end of the destocking stage which featured throughout 2012; it should also be underlined that this performance is closely linked to the growth of the German and North European markets, the company said.

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.