Altri’s profit nearly triples to 22 million euros – Economic

                 Elisabete Felismino

19:22

The company Paulo Fernandes ended the first quarter of 2014 with a net profit of 22.2 million euros, an increase of 189% over the same period last year, the company announced today.

Altri closed the first quarter 2014 with a net profit of 22.2 million euros, an increase of 189% over the same period last year, the company announced today.
The producer of pulp saw revenues surpass 154.1 million of eros, up of 5% over the figure recorded a year earlier. Altri ascribes this growth to the increase in tons sold and the positive evolution of the price that will have increased by 18.2%.
The company prospers in a statement that during the period under review the three industrais units produced 256,400 tons folder (17%), sold 248 600 tons (7%) and exported 230,300 tons (5 %%).
But the group’s EBITDA grew by 79% to 46 6 million euros, while total costs amounted to 107.5 million euros, corresponding to an increase of 4.7% over the same period.
Also in the first quarter of the year, Altri saw debt cut by 54 million euros compared to the same period last year to EUR 504 million.
Altri also announced that invested in the first three months of the year in its three industrial units 7.6 million euros.
The company also said that got under way Caima the conversion project for the production of pasta specialties and enhancing operating efficiency of Celbi.