Iberpapel posts revenue of €48.5 million and positive trends in spite of Covid-19
Despite the health and socio-economic situation that continued to dominate the first three months of the year, Grupo Iberpapel recognised first-quarter revenue of €48.47 million, down just 2.9% from 1Q20, which was yet to be significantly affected by the Covid-19 crisis.
EBITDA amounted to €5.8 million, down 13.9% year-on-year, while net profit was €2.33 million, down 29.8%.
The year-on-year comparison, with a period yet to be significantly impacted by Covid-19, reveals a positive performance, despite the difficulties caused by the last wave of the pandemic and the economic downturn it has produced. It is worth noting the growth in sales volumes, which has not translated into an increase in revenue due to the reduction in average paper prices.
There are, however, signs of a recovery in prices. Revenue in the energy business declined by 4% on the back of lower output, while revenue from timber sales doubled to €1 million.
| (€ million) | 1Q 2021 | 1Q 2020 |
| Revenue | 48.47 | 49.91 |
| EBITDA | 5.80 | 6.73 |
| Profit after tax | 2.33 | 3.31 |
Press release