Iberpapel tackles rising raw material costs having lifted sales by 40%
The Group reported year-on-year growth in revenue of 40% to €164.65 million in the first nine months of the year.
That growth was concentrated in the paper business, where sales jumped 35.54% to €131.12 million, thanks to volume growth, which more than offset the year-on-year decline in prices. Revenue from electricity sales increased 49% as a result of high electricity prices, whereas revenue from timber sales more than tripled year-o-year to €3.6 million. In all, the business has performed well in the first nine months of the year: EBITDA amounted to €19.86 million, growth of 93.8% year-on-year, while net profit totalled €10.02 million, far in excess of the €1.14 million reported in 9M20.
Despite these figures, Iberpapel is aware of the complex panorama posed by raw material scarcity coupled with high energy costs, circumstances which are affecting all industries and all geographies, including the Group’s suppliers.
Iberpapel is therefore not immune from the prevailing inflationary spiral and is taking a range of remedial measures in order to adapt to the unfolding economic scenario. Those measures include product price increases, which have been notified to the Group’s customers, explaining the gravity of the situation.
|Profit after tax||10.02||1.14|