Altri drops after 'poor' Q1 results

Altri, SGPS

23/05/2025 11:17

** Shares in Altri ALSS.LS drop 8% after the Portuguese pulp producer reported a 56% slump in Q1 net profit

** The company said it expects its operations to normalize following the restart of the Celbi turbine and an increase in dissolving pulp production at Biotek

** CaixaBi notes that profitability was affected by lower pulp prices, weaker US dollar against the euro and non-recurring events, such as case of Celbi or Biotek

** AS Independent Research analyst António Seladas describes the quarter as "poor" and says results came in below estimates, impacted by lower blended sales prices and pressure on costs, despite slightly better-than-expected volumes

** "The short-term prospects remain bleak, while we tend to agree that 2026 and eventually, 2027, should be positive years," he adds, keeping "neutral" recommendation on the stock

** The stock, at the bottom of Lisbon's blue-chip PSI index .PSI20, will see its worst day since August 2022 if losses hold

** Up to the previous session's close, shares were up 16.5%​ year-to-date

 (Reporting by Marta Serafinko in Gdansk)

 ((Marta.Serafinko@thomsonreuters.com; +48 58 769 66 00;))