Iberpapel Gestión S A : posts profit of €1.14 million despite stoppage to carry out upgrade work
October 30, 2020 at 06:10 am EDT
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Press release / 3Q20 results
Iberpapel posts profit of €1.14 million
despite stoppage to carry out upgrade work
Madrid, 29 October 2020
During the third quarter, Iberpapel carried out the largest ever overhaul of its pulp factory.
Despite the difficulties generated by the pandemic, the company managed to complete the work to its satisfaction. The production stoppage took place within the originally scheduled timeframe: between the end of July and the middle of September.
As the Group had anticipated, the stoppage, coupled with the health and economic situation, had an impact on the company's earnings: revenue from paper sales declined by 28% year-on-year and revenue from energy sales decreased by 32%, both segments affected by a dip in demand, lower prices and, in the case of electricity sales, a decline in output derived from the stoppage of the pulp factory.
Despite those exceptional and adverse circumstances, the Iberpapel Group managed to post a profit of €1.14 million. Revenue amounted to €117.58 million, down 29% year- on-year, and EBITDA came in at €10.75 million, down 8.71%.
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Iberpapel Gestion SA published this content on 29 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2020 10:09:09 UTC
Iberpapel Gestion SA is a Spain-based holding company engaged in the paper industry. The Company operates through three divisions: Forestry, involved in the acquisition and cultivation of eucalyptus plantations in Argentina, Uruguay and Spain; Industrial, focused on the production of bleached pulp and paper products, and Commercial, specialized on the distribution of products such as printing and photocopy paper, offset paper, light-coated paper, laser printing paper, paper bags and envelopes. The Companyâs subsidiaries include Distribuidora Papelera SA, Moliner Dominguez y Cia SA, Ibereucaliptos SA, Papelera Guipuzcoana de Zicunaga SA, Central de Suministros de Artes Graficas Papel SA and Copaimex SA, among others. The Companyâs major shareholders include ONCHENA, SL and BESTINVER GESTION, SA.
IBERPAPEL GESTIÓN, S.A. 
