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9.2 million euro profit in the first half of 2020

The Covid-19 pandemic left its mark on worldwide demand for paper pulp. Total revenue for the Altri Group in the first half of 2020 stood at 328 million euros.

Demand remained high from producers who use tissue pulp (the raw material employed in paper products for domestic use, hygiene and protection), although there was a significant fall in demand from producers of printing and writing paper. 

The Altri Group’s revenue during the period under analysis was 328 million euros, corresponding to a year-on-year drop of 19.5%. EBITDA shrank by 55.7% to 63 million euros. The net result for the first six months of 2020 totalled 9.2 million euros.

245,000 tons exported

During the period from April to June 2020 inclusive, the Altri Group’s industrial units produced 269,500 tons of pulp, made up of 245,700 tons of BHKP pulp and 23,900 tons of dissolving wood pulp (DWP). 

The sales reflected that 283,100 tons of pulp were sold (25,700 tons of DWP and 257,400 tons of BHKP), which corresponds to a 4.1% rise on the same period the previous year, albeit a 1.4%fall from the first quarter of 2020. In the second quarter of 2020, the Altri Group exported 245,100 tons of pulp, which amounts to 87% of its total pulp sales. 

In monetary terms, quarterly exports totalled 107.6 million Euros. In line with the first quarter of this year, the BHKP sale price remained at 680 dollars per ton, which was 25% lower than the average price recorded in the second quarter of 2019. 

During the quarter under analysis, Altri’s total revenue stood at 162.4 million euros, reflecting an 18% drop on the same period the previous year, and a decrease of 2% from the first quarter of 2020. Total revenue associated with the pulp production units totalled around 140.7 million euros.

551,800 tons of pulp produced in the first half of 2020
570,300 tons of pulp sold in the first half of 2020
222,5 million euros exports in the first half of 2020
62 million Euros of dividends paid – approx.

Increased energy production

Renewable electricity production using forest biomass amounted to around 182.1 GWh in the second quarter of 2020, corresponding to a 68% hike compared with the second quarter of 2019 and a slight decrease of 1% vis-à-vis the first quarter of 2020.

This year-on-year growth resulted chiefly from the second renewable energy production unit commencing operation in Figueira da Foz (Sociedade Bioelétrica do Mondego, S.A.), in the second half of 2019. 

Total revenue associated with the Group’s units which produce energy using forest biomass stood at 21.6 million euros, reflecting a 64% growth on the same period of 2019, and a slight drop of 1% on the period from January to March of this year.