Altri Group revenues fell 0,9 per cent

The Altri Group achieved total revenues of € 222.7 M in 1Q24, a decrease of 0.9% over the same period of last year. This evolution is explained, despite the increase in sales volume as a result of an increase in overall demand, by the average pulp price level in 1Q24, which was around 17% lower compared to 1Q23. Despite the comparison with the same period of the previous year, the company continues to see a positive trend already recorded in relation to 4Q23, with total revenues in 1Q24 growing18.9% vs 4Q23, which reflects the improvement in market conditions.

The Altri Group recorded an EBITDA of € 50.0 M in 1Q24, a value in line with the € 50.2 M reached in 1Q23. The EBITDA margin was 22.5%, which compares with the 22.3% reported in the same period of last year. The operational profitability of the Altri Group continues to improve on a quarterlybasis, with the EBITDA of 1Q24 growing around 25.7% vs the 4Q23.

Global pulp demand continues to improve at the start of 2024, with the Asian market showing positive signs, reinforced by increased demand from Europe and North America. This improvement has globally led to successive increases in pulp prices (BHKP) during 2024.

At the General Shareholders' Meeting held on 3 May 2024, it was decided to distribute dividends in the amount of € 51.3 M, corresponding to € 0.25 per share, relative to 2023 results. Despite significantly lower level of earnings in 2023 than in 2022, the board of directors has proposed to maintain the level of ordinary dividends, representing a payout ratio of 120% on the results obtained in 2023. This decision shows the commitment of the Altri Group to a stable return on results to its shareholders, within the appropriate limits of financial soundness.