ENCE Energía y Celulosa Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	759.13	885.22	841.36	1,009	824.38
Revenue Growth (YoY)	-14.24%	5.21%	-16.64%	22.43%	16.16%
Cost of Revenue	450.7	442.66	476.7	437.83	394.2
Gross Profit	308.42	442.56	364.66	571.5	430.18
Selling, General & Admin	117.9	117.85	108.88	95.11	85.82
Other Operating Expenses	124.16	173.39	171.67	212.04	267.52
Operating Expenses	332.18	391.76	382.44	405.51	446.8
Operating Income	-23.75	50.8	-17.78	165.99	-16.62
Interest Expense	-43.56	-41.28	-35.23	-26.34	-26.84
Interest & Investment Income	12.52	10.77	6.53	1.09	6.59
Earnings From Equity Investments	-1.63	-1.01	-0.55	-1.01	-1.23
Currency Exchange Gain (Loss)	-3.71	1.24	-0.93	1.32	3.67
Other Non Operating Income (Expenses)	8.49	6.67	7.96	-10.35	22.2
EBT Excluding Unusual Items	-51.64	27.19	-39.99	130.69	-12.23
Impairment of Goodwill	-	-	-	-1.49	-0.25
Gain (Loss) on Sale of Investments	-	0.06	0.03	-	-
Gain (Loss) on Sale of Assets	-0.13	-2.5	-1.86	-1.91	-
Asset Writedown	0.91	2.5	9.69	147.29	-193.25
Other Unusual Items	-31.05	5.1	-1.03	-21	13.19
Pretax Income	-81.92	32.35	-33.17	253.59	-192.54
Income Tax Expense	-19.42	12.23	-12.1	4.66	9.42
Earnings From Continuing Operations	-62.5	20.12	-21.07	248.93	-201.96
Minority Interest in Earnings	8.05	11.43	-3.65	-1.71	11.55
Net Income	-54.46	31.55	-24.72	247.22	-190.41
Net Income to Common	-54.46	31.55	-24.72	247.22	-190.41
Shares Outstanding (Basic)	242	243	242	242	242
Shares Outstanding (Diluted)	247	247	242	261	242
Shares Change (YoY)	0.36%	1.69%	-7.16%	7.76%	-0.25%
EPS (Basic)	-0.22	0.13	-0.10	1.02	-0.79
EPS (Diluted)	-0.22	0.13	-0.10	0.95	-0.79
Free Cash Flow	-42.31	7.71	-135.93	251.87	73.02
Free Cash Flow Per Share	-0.17	0.03	-0.56	0.96	0.30
Dividend Per Share	-	0.140	-	0.564	-
Gross Margin	40.63%	49.99%	43.34%	56.62%	52.18%
Operating Margin	-3.13%	5.74%	-2.11%	16.45%	-2.02%
Profit Margin	-7.17%	3.56%	-2.94%	24.49%	-23.10%
Free Cash Flow Margin	-5.57%	0.87%	-16.16%	24.95%	8.86%
EBITDA	57.24	143.93	76.31	257.53	70.28
EBITDA Margin	7.54%	16.26%	9.07%	25.52%	8.53%
D&A For EBITDA	80.99	93.13	94.08	91.54	86.9
EBIT	-23.75	50.8	-17.78	165.99	-16.62
EBIT Margin	-3.13%	5.74%	-2.11%	16.45%	-2.02%
Effective Tax Rate	-	37.80%	-	1.84%	-
Revenue as Reported	835.8	915.71	844.37	1,016	773.19
Advertising Expenses	3.96	3.92	3.97	1.15	0.92

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.