Altri Group’s total revenues reached 203.6 million euros in the first quarter of 2025, representing a decrease of 8.6% compared to the first quarter of 2024, and an increase of 9.7% versus the fourth quarter of 2024.

In the first quarter of this year, EBITDA totalled €29.4 million, down 41.2% year-on-year and 23.1% lower than Q4 2024. The less favourable EBITDA performance was due not only to lower prices (also impacted by the depreciation of the USD), but also to uncertainty caused by trade wars and tariffs, as well as some instability following the turbine incident at Celbi — which restarted at the end of March — and the ramp-up of soluble pulp production at Biotek.

Altri Group’s net profit for this period was approximately €7.6 million, compared to €21.6 million in the same period last year. In the last quarter of 2024, net profit reached €17.6 million.

Total net investment by Altri Group during the first three months of 2025 amounted to €9.9 million, compared to €11.8 million in the same period last year. This includes €4.8 million in investments classified as ESG, representing 49% of the total net investment.

The Group’s net debt stood at €211.0 million at the end of March 2025, slightly down from €213.6 million at the end of December 2024. This debt level corresponds to a Net Debt/EBITDA LTM ratio of 1.1x. Total net debt (i.e., including lease liabilities) amounted to around €291.6 million at the end of Q1 2025. As of the end of the first quarter of 2025, 36% of Altri Group’s interest-bearing debt carried a fixed rate (including interest rate swap contracts).

Global demand for cellulosic fibres increased by 4.8% year-on-year in the first three months of 2025, with demand for hardwood fibres growing by 4.5%, according to the PPPC. Regionally, and focusing on the hardwood pulp market — the most relevant for Altri Group — positive highlights include China (+8.8%), Rest of Asia/Africa (+9.4%) and Eastern Europe (+9.8%). Western Europe, after double-digit growth in 2024, showed a decline of approximately 2.6% in Q1 2025 compared to the same period in 2024.

In terms of sustainability and the 2030 Commitment, Altri Group was recognised by Sustainalytics as one of the Industry – ESG Top-Rated Companies, highlighting the top 5 companies with the best ESG risk ratings in the ‘Paper and Forestry’ sector.

Altri Group also received the “Caixa ESG Award – Transparency & Performance,” a recognition for companies demonstrating transparency and the integration of best ESG practices in their management. The award highlights businesses promoting a more sustainable, responsible, and transparent economy by aligning financial performance with positive environmental, social, and governance impact. This recognition further reinforces Altri’s commitment to sustainability as a driver of competitiveness, while pursuing operational excellence and technological innovation.