Grupo Altri recorded total revenue of €204.6 million in the second quarter of 2026, representing growth of 20.8% year-on-year. EBITDA reached €30 million, 6.5% higher than in 2Q25 and almost six times the figure recorded in the previous quarter, reflecting a significant recovery in profitability following the impact of the storms that affected Portugal at the beginning of the year. Net result attributable to shareholders rose to €12.9 million, compared with €6.4 million in the same period of 2025 and the negative result of -€7.3 million recorded in the first quarter.

In operational terms, the total volume of fibres produced reached 281.9 thousand tonnes, up 5.0% year-on-year and 31.3% on the previous quarter. This performance was driven mainly by the production of Dissolving Pulp (DP), which grew by 102.3% year-on-year. Total pulp sales amounted to 290.8 thousand tonnes, an increase of 16.5% compared to 2Q25, with production and sales returning to normal levels after the operational and logistical challenges experienced at the beginning of the year.

The market showed encouraging signs during the half-year, with a gradual recovery in hardwood and dissolving pulp prices, accompanied by more dynamic demand, particularly in Asian markets. The BHKP price in Europe ended at US$1,409/tonne in June, compared with US$1,100/tonne at the end of 2025, whilst dissolving pulp prices rose to around US$898/tonne in July. Although the international economic environment continues to call for caution, these developments allow the coming months to be viewed with greater confidence.

Altri continued to advance its structural diversification projects. At Biotek, the conversion to dissolving pulp (DP) entered a more advanced phase, with sales to new customers beginning as qualification processes progress. At Caima, the project for the recovery and valorisation of bio-based acetic acid and furfural is in the start-up phase, with a progressive ramp-up expected until the end of the year, when it should reach a utilisation level close to 100% of nominal capacity. The installation of the pre-industrial unit for the scale-up of the AeoniQ™ filament is also under way and is expected to begin production before the end of the year, accelerating qualification processes in the sustainable textile fibres market.

Sustainability remains at the centre of the Group's strategy, with Altri recognised as a Supplier Engagement Leader by CDP and featuring, for the second consecutive year, in the ranking of the world's most sustainable companies by TIME magazine. As it enters the second half of the year, Altri is mindful of the remaining challenges, notably the impact still felt in the access to wood, but remains confident in the path it is following, with structural projects under execution, signs of improvement in the market, and a team capable of turning challenges into opportunities.