Spanish pulp producer Ence's recently announced net profits increased by 4% in 2012, after attaining €43 million in 2012, thanks to an improvement in costs and competitiveness achieved over the year, and thanks also to the positive operating performance of the company. Of particular note is the fact that the growth in results for the last quarter of the year --which stood at €14.2 million and represents an 11% increase over the previous quarter--, illustrates the progressive recovery of Ence's results throughout the year. The result of 4Q12 is four times compared to the same quarter of 2011.
The improved competitiveness of the company is reflected in the significant 6% decrease of the average cash-cost (total unitary cost) for the year to stand at €344/t, which facilitates Ence's penetration in international markets and, in particular, in the European market where it currently holds a share of 15%. This decline in cash-cost amounted to 12% from the €393/t maximum attained in the 4Q of 2010.
However, the Spanish also announces that it plans to cut 144 jobs. According to EUWID, the trade unions are protesting the proposed job cuts and are pointing to the group’s positive results for 2012.
