Improved financial performance Altri Group, a major Portuguese producer of cellulosic fiber, has reported a net income of €69.6 million for the first six months of 2022, up 56.9 percent compared with the same period a year earlier.
For the first six months of this year, Altri Group reported a total cellulosic fiber output of 562.5 thousand tonnes, down 1.5 percent compared with the same period of 2021. This was “due to the scheduled stoppage of one of the industrial units (Biotek). In the second quarter, as a result of the same stoppage, production reached 282.2 thousand tons,” according to the producer.
This performance is “achieved in a challenging environment of inflation of various variable costs, a reflection of disruptions in logistics chains, but exacerbated by the invasion of Ukraine by Russia,” said José Soares de Pina, the company’s CEO, as quoted in a statement. “The context of a strong increase in energy and raw material prices, especially chemicals and wood, has limited the expansion of profitability and margins obtained by the Altri Group.”