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Portucel Soporcel increases sales and profits in 2015

Photo: Portucel Soporcel
Photo: Portucel Soporcel
Published by
Simon Matthis - 05 Feb 2016

Portucel Soporcel Group has delivered a strong performance in 2015. Total sales increased by 5.6% against the previous year to €1.63bn. Operating profit jumped by almost 30% to €282m and net profit increased 8% y-o-y to €196m. The company attributed the €86m increase in sales to higher pulp and prices in euro terms, resulting from the strength of the dollar against the euro, in particular. The inclusion of the new tissue business in the group's consolidated results also contributed to the growth recorded in 2015. 

According to Portucel, the woodfree uncoated paper market in Europe has seen a 0.3% decrease in consumption in 2015, while weak Euro and strong US dollar supported exports to overseas markets. Portucel expanded paper deliveries to dollar denominated markets by 1.7% with an increase in sales of 14.5% compared to 2014. The group's average sales prices showed a 5% increase over 2014, the company explained.

"Bleached eucalyptus kraft (BEK) pulp business maintained the positive performance record since the start of the year, with prices significantly better than in the same period in 2014," writes Portucel Soporcel. The price increase of almost $40/t ($784 in 2015 vs. $746 in 2014 ) translated into a sharp rise in pulp prices in euro due to the foreign exchange rate.  The upward trend in pulp prices resulted in a 23% increase in sales, despite a 1.7% reduction in deliveries.