The Altri Group showed strong growth in its results in the first six months of the year. Net profit more than doubled compared to the same period of last year, reaching €62 million, an evolution explained by the growth in production in response to a greater demand, which translated into higher prices.

Net profit showed a growth of 121.7% compared to the first six months of last year, with the bottom line for the second quarter reaching €40.4 million, almost five times higher than in the same period in 2023.

In terms of EBITDA, there was an increase of 52.7% compared to the first half of 2023, amounting to €124 million, while the EBITDA margin reached 26.8%.

In a period in which the Altri Group increased its production by 6.2%, total revenues reached around €462.7 million, a year-on-year growth of 8.5%, supported by the favorable evolution of cellulosic fiber prices in the international markets.

“The reversal of the cycle that occurred in the second half of last year resulted in successive increases in the BHKP pulp prices, which reached a value of $1,440 per ton in May of this year, an historically high price level”, says José Soares de Pina, CEO of Altri.

With an increase in supply expected to reach the market and a reduction of the influence of some specific factors that we saw earlier this year, we may see some price adjustments in the short term. The optimized cost level will, however, allow the Altri Group to maintain a solid profitability.

This profitability allows us to continue to develop several diversification and growth projects, of which we highlight the project for the recovery and valorization of renewable-based acetic acid and furfural, in Caima, scheduled for completion at the end of 2025. Regarding the Gama project, In Galicia, the integrated environmental license is currently being processed, an important step towards making the final investment decision.