Portugal · Delayed Price · Currency is EUR Altri, SGPS Earnings Call Transcripts
Fiscal Year 2025
-
2025 saw a sharp decline in profitability due to weak pulp prices and FX headwinds, but cost discipline and diversification efforts continued. Market conditions and pricing improved late in the year, with a positive outlook for 2026 despite short-term storm and geopolitical risks.
-
Q3 2025 saw a 20% revenue drop and 79% EBITDA decline year over year, driven by lower pulp prices and currency headwinds. Strategic projects and cost optimization continue, with demand recovery led by Asia and early signs of price improvement.
-
Q2 2025 saw lower EBITDA and net profit year-over-year, but margin improved due to efficiency gains. Strategic acquisitions in sustainable fibers and forestry support diversification, while capital spending remains high. Market uncertainty from tariffs and currency volatility persists.
-
Q1 2025 saw a 41% EBITDA drop and 9% revenue decline year-over-year, mainly from lower pulp prices and operational issues, but demand rebounded in Asia. Strategic projects and efficiency improvements are expected to support recovery, with CapEx above EUR 60 million for 2025.
Fiscal Year 2024
-
EBITDA surged 59% to €218M and net profit more than doubled in 2024, with strong cash flow and a 40% net debt reduction. Growth projects and acquisitions advanced, while stable costs and positive market trends support a solid 2025 outlook.
-
Q3 2024 saw strong financial performance with EBITDA up 244% year-over-year and net debt down 23%. Market conditions are stabilizing, with positive outlook for 2025–2028 and major investments in dissolving pulp and sustainability projects ongoing.
-
Q2 2024 saw strong revenue and profit growth, with EBITDA up 48% sequentially and net profit for H1 more than doubling year-over-year. Sales volumes and margins improved, while net debt and cash costs declined. Outlook remains positive, with stable costs and continued investment in growth projects.