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Iberpapel recorded first-half net profit of €13.4 million, compared to €9.7 million in 1H10 EBITDA was 12.9% higher in the first six months of the year at €22.5 million Group borrowings were slashed by 78%, to leave a net cash balance
Iberpapel generated a record €22.64 million in net profit in 2010, EBITDA climbed 84% year-on-year to €40.38 million, The upswing in demand, coupled with heavy investing in recent years, underpinned, this healthy business performance.
The Board of Directors of Iberpapel, in a meeting held today, 3 February 2011, has agreed to pay a dividend against 2010 profits in the amount of €0.30 per share (before tax), marking growth of 275% on the €0.08 per share dividend paid from 2009 profits.
Iberpapel generated net profit of €16.5 million in the first nine months of 2010, surging 252% year-on-year , revenue climbed 11.2% on 9M09, while EBITDA jumped 91.8% year-on-year. The recovery in average paper sales prices coupled with the cost-cutting and energy efficiency programs drove Iberpapel’s earnings momentum.
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