Reno De Medici (RDM), parent company of one of the world’s largest producers of recycled cartonboard, announces a net profit of €9.2 million euro during the first half of the year, a strong increase vs. +€0.2 million euro recorded in the same period of previous year, and with an EBITDA in progress from 16.7 million in the first‐half 2013 to €25.8 million in the first‐half 2014.
The specific sector in which the Reno De Medici Group operates evolved in line with the general economic scenario of the period: in the first half of 2014 the European demand for packaging cartonboard obtained from recycled fibers slightly decreased (‐1.1%) compared to the same period of previous year, with a stronger negative deviation in the second quarter. Its dynamics also reflect a prudent attitude of the industrial operators, given the still uncertain short‐term outlook.
In the first half of 2014 the Reno De Medici Group benefited from basically stable fiber prices and continuously falling energy prices.
As of June 30, 2014 Net Revenues of the RDM Group amounted to €238.9 million, basically in linewith €241.5 million totaled in the first half of 2013. Volumes were also in line with previous year,with 449 thousand tons sold in the first half of 2014 vs. 455 thousand of 2013.
