Iberpapel Gestión S A : posts first-quarter net profit of €3.31 million
April 27, 2020 at 09:28 am EDT
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Press release / 1Q20 results
Iberpapel posts first-quarter net profit of €3.31 million
Madrid, 27 April 2020
The Iberpapel Group posted revenue of €49.91 million in the first quarter of 2020, down 21.89% year-on-year. EBITDA amounted to €6.73 million, 29% below the 1Q19 figures, and net profit was €3.31 million, down 39%.
The first-quarter results are framed by the unprecedented health and economic crisis triggered by the Covid-19 pandemic. Despite the virtual shutdown of all economic activity, Iberpapel managed to maintain good momentum in a complex environment. The prevailing situation inevitably translated into a reduction in sales volumes (-15% in units) and revenue from power sales (- 21%).
(€ m)
1Q20
1Q19
Revenue
49.91
63.90
EBITDA
6.73
9.52
Profit after tax
3.31
5.43
Elsewhere, recall that Iberpapel has had to postpone its Annual General Meeting, originally scheduled for 22 April 2020 at first call and 23 April 2020 at second call, until it can be held safely.
Iberpapel Gestion SA published this content on 27 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2020 13:27:01 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. 
