Brief: Ence 9-Month Net Result Turns To Profit Of 67.0 Mln Euros YoY

ENCE Energia y Celulosa SA

27/10/2022 12:48

Oct 27 (Reuters) - Ence Energia y Celulosa SA  ENC.MC :
    * 9-MONTH NET PROFIT 67.0 MILLION EUROS VERSUS LOSS 193.1
MILLION
EUROS YEAR AGO
    * 9-MONTH EBITDA 207.5 MILLION EUROS VERSUS 85.8 MILLION
EUROS
YEAR AGO
    * 9-MONTH NET SALES 787.1 MILLION EUROS VERSUS 588.5 MILLION
EUROS
YEAR AGO
    * PONTEVEDRA BIOMILL IS EXPECTED TO INITIATE ITS RAMP-UP
PROCESS
AROUND SECOND WEEK OF NOVEMBER
    * IN LINE WITH NEW DIVIDEND POLICY, BOARD HAS AGREED TO PAY
OUT A
THIRD INTERIM DIVIDEND TOTALLING €22 MILLION, OR €0.09 PER SHARE
(BEFORE TAX WITHHOLDINGS), ON 15 NOVEMBER
    * IMPACT OF TEMPORARY SUSPENSION OF OPERATIONS IN PONTEVEDRA
ON
THIRD-QUARTER EBITDA IS ESTIMATED AT €30.6 MILLION
    * ASSUMING GRADUAL RAMP-UP OF BIOMILL FROM SECOND WEEK OF
NOVEMBER, ADDITIONAL IMPACT ON FOURTH-QUARTER EBITDA OF €32M IS
EXPECTED, INCLUDING ADDITIONAL PRODUCTION COST FOR USING NEW
SOLUTION
    * THOSE IMPACTS ARE BEING MITIGATED BY INCREASE IN PULP
PRICES AND
MORE FAVOURABLE EXCHANGE RATE TRENDS IN SECOND HALF, SUCH THAT
SECOND-HALF EBITDA IN PULP BUSINESS IS EXPECTED TO BE SIMILAR TO
FIRST HALF

Source text for Eikon:  ID:nCNM5jh97h 
Further company coverage:  ENC.MC 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))