Iberpapel reports year-on-year net profit growth of 42.16%

Iberpapel reports year-on-year net profit growth of 42.16%

Iberpapel reported €10.72 million of net profit in the first six months of 2023, year-on-year
growth of 42.16%, despite the slowdown in demand in Europe and growth in imports from
Asian countries, which prompted a reduction in paper sales.

Revenue from energy sales also declined during the first half due to the partial stoppage of the
gas CHP plant on account of its scant profitability in the current price and market environment.
As a result, revenue declined by 17.86% to €134.66 million. However, EBITDA registered
growth of 31.64% to €19.5 million, up from €14.83 million in 1H22. This growth was shaped
by a reduction in variable costs, mainly the cost of energy and some raw materials, albeit still
above the levels observed prior to the energy crisis, as well as astute sales management by
Iberpapel.

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