Ence, the pulp mill company, has reported impressive financial results for the first quarter of the year, with a net profit of 30.4 million euros. This figure more than doubles the profit of 13 million euros achieved in the same period last year, despite a decline in prices and demand in the pulp market.
The company attributes its strong growth to several factors. Firstly, the pulp price remains close to its peak, contributing to higher revenues. Additionally, the normalization of production in the Pontevedra biofactory and the improvement in the regulated price of energy have also played a significant role in boosting profits. Furthermore, Ence has formalized the sale of a photovoltaic plant under construction in Jaén, which has added an operating result of 23 million euros.
Ence highlights that the average sale price of pulp during the first quarter was 17% higher than the same period in 2022. This increase has helped offset the inflationary pressures on the cost of raw materials, ensuring profitability for the company.
In addition to its financial success, Ence also presented its results for the full year of 2022 at its general shareholders’ meeting. The company achieved a profit of 247 million euros, demonstrating its consistent performance and growth.
Looking ahead, Ence has ambitious plans in the field of renewable energy. The company aims to develop 20 biomethane plants across Spain, further expanding its presence in the energy sector. Ence is also actively working on biomass and solar power projects, emphasizing its commitment to sustainable and clean energy solutions.
The positive financial results and ongoing projects showcased at the general shareholders’ meeting reflect Ence’s resilience and strategic focus. Despite challenges in the market, the company continues to thrive and contribute to the growth of the pulp and energy industries.
What are Ence’s plans and strategies for further growth and expansion in the realm of renewable energy, and how do these plans align with the company’s commitment to sustainability
Ence, the pulp mill company, has surpassed all expectations with its impressive financial performance in the first quarter of the year. With a net profit of 30.4 million euros, Ence has more than doubled its profit from the same period last year, despite a decline in prices and demand in the pulp market.
The company attributes its remarkable growth to several significant factors. Firstly, the pulp price has remained remarkably high, which has directly contributed to higher revenues. Moreover, the normalization of production in the Pontevedra biofactory and the improvement in the regulated price of energy have played a vital role in boosting profits. Ence has also successfully finalized the sale of a photovoltaic plant in Jaén, adding an operating result of 23 million euros.
Ence proudly reports that the average sale price of pulp during the first quarter was 17% higher than in the same period in 2022. This substantial increase has effectively offset inflationary pressures on the cost of raw materials, ensuring continued profitability for the company.
With its recent accomplishments, Ence has also presented its impressive results for the full year of 2022 at its general shareholders’ meeting. A notable profit of 247 million euros showcases Ence’s consistent and impressive performance in the industry.
Looking ahead, Ence has ambitious plans in the realm of renewable energy. The company aims to develop 20 biomethane plants throughout Spain, further expanding its presence in the energy sector. Additionally, Ence is actively pursuing biomass and solar power projects, emphasizing its commitment to sustainable and clean energy solutions.
The positive financial results and ongoing projects highlighted at the general shareholders’ meeting effectively demonstrate Ence’s resilience and strategic focus. Despite challenges in the market, the company continues to thrive and make significant contributions to the growth of the pulp and energy industries.
Impressive results for Ence Pulp Mill! Their strong growth and 30.4 million Euro profits in Q1 2022 demonstrate their commitment to success. Looking forward to seeing what else they achieve in the coming quarters.
Impressive growth and substantial profits for Ence Pulp Mill in Q1 2022, showcasing their success and solid position in the industry. Well done!