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Second-quarter exports total 246,900 tonnes of pulp

Altri’s business outside of Portugal rose to 159 million euros and the EBITDA reached a record high of 72.7 million euros.

From April to June 2018 Altri produced 270,800 tonnes of pulp, which represents a 2.6% rise on the second quarter of 2017 and a 5.3% rise on the first quarter of 2018. Soluble pulp accounted for around 27,200 tonnes of the total tonnage – up 15.9% on the same quarter of 2017 and around 1% lower than the previous quarter of 2018.

In terms of sales, the months of April to June 2018 saw 280,500 tonnes of pulp sold, which was 4.9% higher than the same quarter of 2017 and 13.3% higher than the first quarter of this year. Of this total, 29,800 tonnes were soluble pulp (up 23.5% on the same quarter of last year).

Regarding the first half of the year, the Altri Group’s industrial units produced 528,000 tonnes of pulp and total sales were also 528,000 tonnes.

In terms of exports, during the second quarter of 2018 Altri exported 246,900 tonnes of pulp, which is a 2% growth compared with the same period of last year and a rise of 14% on the first three months of this year. In monetary terms, exports stood at 158.5 million euros.

Total pulp sales reached 178.6 million euros, which represents a hike of around 26% on the same period of the previous year, and a rise of around 20% on pulp sales recorded in the first quarter of 2018.

Operating costs rose by around 20% and 12% from the previous quarter and the second quarter of 2017, respectively. Costs rose more than revenue did, which was essentially down to the operational stoppages which affected the Celtejo industrial unit during the second quarter of 2018, caused by the investment process underway at that unit, which is expected to be completed during the third quarter 2018.

The second quarter of 2018 was characterised by the rise in the average selling price of hardwood pulps (BHKP) from the first quarter of 2018 and also by the development of the investment project at the Celtejo industrial unit, which led to a stoppage lasting several days and an extraordinary degree of unit costs. Furthermore, electricity and gas prices also rose during the period under analysis.

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Total revenue stood at 205 million euros, representing a year-on-year growth of 24% on the same period of 2017 and an 18% growth on the first quarter of the current year

This all combined to mean that total costs – excluding repayments, financial costs and tax – amounted to 132 million euros in the second quarter of 2018.

2018’s second-quarter EBITDA stood at 72.7 million euros, up 54% on that recorded in the same period of 2017, and up 15% on the EBITDA figure for the first quarter of 2018.

The financial result was a net expenditure of 3.8 million euros, which represents a 24% improvement on the net expenditure incurred in the second quarter of 2017.

Altri’s net consolidated result totalled 41 million euros – a 69% growth on the same period of 2017 and a 26% growth on the first quarter of the year.