Iberpapel posts first-quarter net profit of €1.9 million

Iberpapel posts first-quarter net profit of €1.9 million

Grupo Iberpapel generated net profit of €1.9 million in the first quarter of 2010
(compared to €315k in 1Q09). Profit before tax totalled €2.5 million (€624k in 1Q09).

First-quarter revenue from sales amounted to €51.9 million. Total Group revenue from
sales of paper, wood and electricity, and including other income, totalled €53.4 million.
EBITDA was €5.9 million in 1Q10, year-on-year growth of 43.5%.

The adverse market trends affecting 2009 reversed course in March 2010, when prices
began to stage a recovery. The Cost Control Plan and the Energy Efficiency Program
enabled Grupo Iberpapel to lift its profit margins while continuing to reduce debt.

(€ million) 1Q10 1Q09
Revenue 51,858 53,438
EBITDA 5,888 4,102
Profit before tax 2,519 624
Net profit 1,874 315

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