Iberpapel posts first-quarter net profit of €0.6 million
The adverse situation in the paper market, coupled with application of the draft ministerial order enacting Spanish Royal Decree-Law 9/2013 of 12 July on electricity sector reform, had a material impact on Iberpapel’s first-quarter 2014 earnings.
Net profit amounted to €0.6 million (1Q13: €4.32 million).
Revenue narrowed 11.44% year-on-year to €51.6 million (from €58.3 million).
EBITDA was 56.9% lower at €3.6 million (1Q13: €8.3 million).
Iberpapel, along with the sector associations, Aspapel and Acogen, have lodged pleas against the electricity sector reforms.
|Profit after tax||0.6||4.3|