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Altri profits fall more than 70% to 42.8 million euros – Executive Summary

Altri profits fall more than 70% to 42.8 million euros – Executive Summary

Altri today released its 2023 financial year results, announcing a 71.9% drop in profits to €42.8 million.

Data revealed by the company show that Altri Group’s total revenues amounted to 788.2 million euros, a decrease of 26.1% compared to the same period last year, as a result of lower prices. EBITDA reached 137.3 million in 2023, with an EBITDA margin of 17.4%.

“2023 has been an extraordinary year for the cellulosic fiber market. We are witnessing one of the most abrupt cycle changes in more than a decade, with global demand growth slowing as a result of a stock-down in Europe and North America, which was followed, in the second half of The year saw a slowdown in global demand. José Soares de Pena, CEO of Altri, explained that the improved outlook is a result of the strong recovery of the Asian market.

The businessman also highlighted that the Altri Group has been able to maintain a high production level in its three units in Portugal, Biotek, Caima and Celbi, exceeding one million tons of cellulosic fibres.

Production of cellulosic fibers reached 1,061 thousand tons in 2023, while sales reached 1,081 thousand tons.

In terms of investment, it exceeded 60 million euros, of which 31.7 million were invested in a new biomass boiler, allowing Caima to become the first industrial cellulosic fiber unit in the Iberian Peninsula, and one of the first in Europe, operating 100% free of Fossil fuels. .

“Over the past year, we have strengthened our efforts to achieve greater efficiency in our operations. We highlight the investment made in a new biomass boiler (including a new turbine) in Kema, which has thus become the first industrial unit in this sector in the Iberian Peninsula to abandon fossil fuels in the production process, and has been able to guarantee complete independence of energy from sources “Exclusively renewable,” José Soares de Pena added.

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[Errata: informa-se os senhores leitores que a notícia foi corrigida. Os lucros da Altri caíram, e não subiram, como anteriormente mencionado]