The slowdown in the European and global economies, the correction in pulp prices and the strike action taken during the first few days of July had a direct impact on the Iberpapel Group's third-quarter earnings. Specifically, its net profit decreased by 2.79% from €17.6 million in 9M18 to €17.11 million in 9M19.
Revenue amounted to €166.19 million, down 0.28% year-on-year, due mainly to a drop in electricity sales prices, which more than offset higher paper and timber sales prices. EBITDA decreased by 1.46% from €29.33 million to €28.90 million in 9M19.
Despite the above-mentioned external factors, Iberpapel defended its profitability reasonably well, while its revenue barely changed year-on-year.
| (€ million) | 9M19 | 9M18 |
| Revenue | 166.19 | 166.65 |
| EBITDA | 28.90 | 29.33 |
| Profit after tax | 17.11 | 17.60 |
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