Iberpapel Gestión S A : reports a net profit of €34.96 million in the first nine months of 2023
October 27, 2023 at 05:49 am EDT
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Iberpapel reports a net profit of €34.96 million in the first nine months of 2023
Oct 27, 2023
Operating profit before the gain from the sale of forest land in Uruguay amounted to €13.77 million
Iberpapel reported operating profit of €13.77 million in the first nine months of the year, compared to €6.2 million in the same period of 2022. Having successfully defended its sales prices and margins, the company managed to eke out growth of 122% in a complicated environment marked by slowing demand in Europe and growing imports (especially from Asia), driving a drop in sales volumes and lower capacity utilisation.
Adding in the gain on the sale of forest land in Uruguay, total reported net profit rises to €34.96 million, year-on-year growth of 463.4%.
In 2023, the company expects to invest over €22.5 million 2023 in Papelera Guipuzcoana de Zicuñaga. As part of that work, the replacement of the lime kiln at the Hernani plant is slated for completion in October and will translate into cost savings, while considerably improving the facility's environmental performance.
Iberpapel Gestion SA published this content on 27 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2023 09:48:42 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. 
