Ence posts a net profit of Euro 38.7 million in 2016
(Spain, 7 March, 2017) Ence – Energía y Celulosa – posted a net profit of Euro 38.7 million in 2016 (-22.4%). The adjusted EBITDA rose to Euro 42.2 million within the 4Q, with an increase of 29.1%, driven by increases of 26.5% and 35.6% in pulp and energy business, respectively. The adjusted EBITDA for the year was Euro 138 million.
Ignacio Colmenares, CEO of Ence, said: “Throughout 2016 we have achieved significant advances in our Strategic Plan, as it shows the strong reduction of the costs made and the progress in the achievement of our growth objectives in our energy business. Moreover, we expect a good 2017 given the recovery of the pulp prices and the good pace in the execution of our investment plan”.
The levered free cash flow rose up to Euro 110 million and the net financial debt ended the year in Euro 218.3 million, 9.5% less than 2015. The financial leverage of the company is the EBITDA x1.6, significantly lower than its competitors.
Ence is one of the main European producers of eucalyptus pulp, the most important Spanish company in the production of renewable energy using forest biomass. (Source: press release)