Grupo Iberpapel’s net profit jumps 24.79% to €20.1 million
Grupo Iberpapel’s net profit amounted to €20.1 million in 2016, growth of 24.79% from 2015 (€16.11 million). EBITDA, meanwhile, was 12.95% higher year-on-year at €35.59 million (2015: €31.51 million).
Revenue from sales narrowed 7.49% year-on-year to €201.89 million (from €218.24 million in 2015).
These strong earnings at the consolidated level were underpinned by a clear-cut improvement in the cost structure and in pulp mill efficiency, which more than offset the topline contraction driven by market difficulties.
| (€ million) | 2016 | 2015 |
| Revenue | 201.89 | 218.24 |
| EBITDA | 35.60 | 31.52 |
| Profit after tax | 20.10 | 16.11 |
At a meeting held yesterday, the Board of Directors approved an interim dividend from 2016 profits of €0.30 per outstanding share carrying dividend rights (before withholding tax). It also resolved to submit a motion at the Annual General Meeting for the payment of a final dividend of €0.35 per outstanding share carrying dividend rights.
Press release