Iberpapel posts a €17.11 million net profit in the first nine months of 2019
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.
|Profit after tax||17.11||17.60|