Iberpapel reports €23.16 million of net profit in 2024
Production and sales recovered as progress continued on the product diversification strategy.
Iberpapel is planning to invest €25 million in the coming years, starting in 2025.
The Iberpapel Group recorded a net profit of €23.16 million in 2024 (a margin of 9.7%). Production increased by 20% last year and the volume of paper sold (in tonnes) increased by 19%, driven by a broad sector recovery in the wake of a widespread slowdown in 2023. The Company also demonstrated its ability to adapt to the environment: average paper sales prices were 13% below the average in 2023, a year in which average prices marked an all-time record.
Net profit in 2024 was above the average for the last 10 years albeit 11.43% below like-for-like profit in 2023 and 50.85% below reported net profit in 2023, when Iberpapel recognised an extraordinary gain of €20.98 million on the sale of its forest assets in Uruguay.
Elsewhere, Iberpapel continues to make progress and gain traction on its strategy of diversifying into new printing and writing paper grades, such as paper for packaging and labels and for use in the food and health sectors. This product range accounted for 28.40% of total sales volumes (in tonnes) and registered growth of 37.50% from 2023.
As for the energy market, gas prices were relatively stable throughout the year, albeit rising sharply in the last quarter, and were generally high relative to electricity prices. This circumstance made it difficult at certain times of the year to strike the ideal balance between the two sources of energy, prompting intermittent stoppages at the co-generation plant of up to 30% of its capacity in terms of operating hours. Even so, activity levels were slightly higher than in 2023.
The Company invested €6.31 million in 2024 and has capital expenditure plans for the next few years amounting to €25 million, starting in 2025. Most notably, it is going to build a new wood cutting facility valued at €14 million.
The Iberpapel Group is characterised by sticking to a regular and competitive shareholder remuneration policy, while investing continuously, making technological and environmental improvements to its facilities annually. This approach has allowed it to stay abreast of the latest production methods and the most efficient and productive technology. Indeed, the Group has invested €440 million between 2000 and 2024. The Iberpapel Group boasts a solid financial position and is constantly studying a number of growth opportunities, both organic and M&A- led, with a view to optimising its productive capacity and diversifying its product range.
| (€ million) | 2024 | 2023 |
| Revenue | 238.19 | 250.76 |
| EBITDA | 38.31 | 43.29 |
| Profit after tax | 23.16 | 47.13* |
*This figure includes the gain on the sale of the forest assets in Uruguay. Stripping out that gain, profit after tax would have been €26.15 million.
Press release