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Portucel's FY 2015 EBITDA increased to €390 million

Photo: Portucel Soporcel
Photo: Portucel Soporcel
Published by
Simon Matthis - 23 Feb 2016

Portucel Group's FY 2015 turnover stood at Euro 1.6 billion, the highest figure ever recorded, reflecting an increase of approximately Euro 85.7 million in relation to 2014 up 5.6%, resulting essentially from the increase in pulp and paper prices, caused by the strength of the dollar against the euro.

Inclusion of figures for tissue business in the Group's consolidated accounts contributed to the growth recorded. Paper sales accounted for 75% of turnover, with energy representing 12%, pulp 9% and tissue paper approximately 3%.

Consolidated EBITDA rose strongly to Euro 390 million, representing an increase of approximately Euro 61.6 million in relation to 2014.

The figure recorded for EBITDA also reflects a positive contribution of Euro 8 million from AMS' operations, as well as a negative figure of approximately Euro 10.9 million in relation to the Mozambique project and the new pellets project in the United States, both still at the investment stage. Also significant was the negative impact of Euro 3.8 million resulting from application of the anti-dumping tax in the United States.

The EBITDA / Sales margin also improved, standing at 24%. Operating cash flow stood at Euro 303.6 million, up by 4.1% on the same period in 2014. Operating income also improved significantly, up by 29.6% to Euro 282.9 million.