Iberpapel reports a profit of €3.93 million in the first quarter of 2024
Apr 29, 2024
Sector production improved notably in the first quarter of 2024, having corrected sharply in the same quarter of last year. Although prices have been showing signs of recovery since the middle of the reporting period, they are still far below the near-record levels of 1Q23.
As a result, Iberpapel reported a net profit of €3.93 million in 1Q24, year-on-year growth of 0.64%. EBITDA amounted to €7.68 million, down 6.93% from 1Q23. Revenue came in at €62.11 million, a year-on-year decrease of 12.78%.
Electricity sales contracted by 35.40% due to an unusual market situation marked by very low prices, preventing the use of our co-generation facilities for much of the reporting period.
| (€ million) | 1Q24 | 1Q23 |
| Revenue | 62.11 | 71.22 |
| EBITDA | 7.68 | 8.26 |
| Profit after tax | 3.93 | 3.91 |
Press release