ENCE Energía y Celulosa, S.A. Reports Earnings Results for the Nine Months Ended September 30, 2023
October 31, 2023 at 12:49 pm EDT
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ENCE Energía y Celulosa, S.A. reported earnings results for the third quarter and nine months ended September 30, 2023. For the quarter, the company reported sales was EUR 170.8 million compared to EUR 233.4 million a year ago. Net loss was EUR 27.1 million compared to net income of EUR 21.9 million a year ago. Basic loss per share from continuing operations was EUR 0.10 compared to basic earnings per share from continuing operations of EUR 0.09 a year ago.
For the nine months, the company reported sales was EUR 629.6 million compared to EUR 787.1 million a year ago. Net loss was EUR 28.2 million compared to net income of EUR 67 million a year ago. Basic loss per share from continuing operations was EUR 0.12 compared to basic earnings per share from continuing operations of EUR 0.28 a year ago.
Ence Energia y Celulosa SA, formerly Grupo Empresarial ENCE SA, is a Spain-based company engaged in the operation of pulp mills. The Company' activities are divided into two business units: Pulp and Energy. The Pulp business unit is subdivided into three segments: Pulp, manufacturing pulp and pulp derivatives, such as lignin and biomass, as well as co-generating energy; Forest Management, providing forest crops and wood raw materials, and Forest Services & Other, including residual business activities, as well as forest support services. The Energy business unit focuses on generating energy using forestry and agricultural biomass, as well as, thermos and solar electric energy generation. The Company operates pulp mills and power generation plants in Spain.
ENCE ENERGÍA Y CELULOSA, S.A. 
