Iberpapel mitigates the impact of inflation and its annual mill stoppage, posting profit growth of 21%
Iberpapel’s first-quarter 2022 net profit totalled 2.82 million euros, year-on-year growth of 20.78%, despite an adverse business climate. although the return of normality on the health front is good for the recovery, energy, especially gas, and commodity prices remain high, a situation exacerbated by the war that broke out in Ukraine at the end of February. In addition, paper sales volumes decreased by 9% as a result of maintenance work carried out at the company’s manufacturing facilities in March, which implied a 12-day production stoppage.
The company managed to pass on significant product price increases, offsetting the impact of the increase in costs caused by the prevailing inflationary climate. As a result, EBITDA registered growth of 7.74% from 1Q21 to €6.25 million. Revenue, meanwhile, increased to €83.42 million in the first quarter of 2022, up 72% year-on-year, thanks to growth in revenue from paper sales (+35%, despite the drop in sales volumes attributable to the maintenance stoppage) and energy sales (+274%, fuelled by the growth in energy prices).
| (€ million) | 1Q22 | 1Q21 |
| Revenue | 83.42 | 48.47 |
| EBITDA | 6.25 | 5.80 |
| Profit after tax | 2.81 | 2.33 |
Press release