Portugal · Delayed Price · Currency is EUR Altri, SGPS Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw profitability hit by severe storms, lower pulp prices, and higher costs, resulting in a net loss and increased net debt. Operations have normalized, with improved pricing and cost efficiency expected to drive a recovery in Q2. Strategic projects and diversification remain on track.
Fiscal Year 2025
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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.
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Q3 2025 saw a sharp decline in revenue and EBITDA due to lower pulp prices and currency headwinds, but operational efficiencies led to reduced cash costs. Strategic projects in dissolving pulp and sustainable fibers are progressing, with management optimistic for demand and margin recovery in 2026.
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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.
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Q1 2025 saw a 41% EBITDA drop year-over-year due to lower pulp prices and operational issues, but global pulp demand rebounded 4.8%, led by Asia. Diversification projects advanced, and stable costs are expected ahead, though market uncertainty persists from U.S.-China trade tensions.
Fiscal Year 2024
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EBITDA surged 59% to €218M and net profit more than doubled in 2024, with strong cash flow reducing net debt by 40%. Market conditions stabilized, hardwood pulp prices rose, and growth projects advanced, with CapEx set to increase in 2025.
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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.
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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.