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Altri’s profit will rise by 30% to 117 million by September – Indústria

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Altri loses another 9.6%.  Already lost 258.5 million in two days

Altri posted a net result of 117.4 million euros in the first nine months of this year, an increase of 29.9% compared to 90.4 million recorded in the same period last year.

However, in the third quarter alone, earnings were €47.7 million, an increase of just 3.8%, which the company attributes to “a negative evolution of the USD currency hedges recorded in earnings and an increase in the effective tax rate quarterly.”

In a statement to CMVM, Altri adds that through Caima, Celbi and Biotek, it produced 852,100 tons of cellulose fiber in the first nine months of this year, down 1.6% from the same period last year, “taking into account planned closures. Biotek in May”, with foreign markets absorbing 86% of the total.

“The group’s financial performance was affected by production volumes, sales, and prices,” the paper pulp manufacturer says in a presentation.

Total revenue reached 805.9 million euros, up 37.7% compared to the first nine months of 2021. The pulp business alone generated €667.8 million in revenue, up 36.9% from the same period in 2021.

EBITDA for the year reached 223.4 million euros, up 25.4% year on year. In the third quarter alone, EBITDA was 92.6 million, Altri highlighted in a statement that “EBITDA per tonne of pulp reached 338 euros, a record high in the group’s history, demonstrating a focus on efficiency and profitability.”

EBITDA margin at the end of September was 27.7%, down 2.7 percentage points from the same period in 2021.

“Despite the favorable pulp price environment, the inflationary context of several variable costs limited the margin change,” Altri explains, noting that “there is still a corresponding increase in the prices of chemicals, natural gas and wood.”

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Until September, the group’s investments had more than doubled to 34.8 million euros, compared to 16.8 million euros in the same period last year.

Despite this, net debt stood at around EUR 358.9 million at the end of September, only slightly higher than the EUR 356.9 million recorded at the end of June. The net debt/EBITDA ratio was 1.3x.

José Soares de Pina, CEO of Altri, highlights in the announcement that accompanies the disclosure of the results that the figures were achieved “in challenging conditions, especially with regard to inflation of various variable costs”, adding that “significant increases have been recorded in the price of natural gas, as well as chemicals. In addition, the average cost of timber “was higher, largely reflecting higher levels of imports,” he says.

“All of these factors are affecting the Altri Group, resulting in a corresponding increase in production costs per tonne. However, as a result of focusing on the efficiency of our operations, we achieve more than just offsetting these costs.” .

The low level of net debt, says José Soares de Pina, “allows us to maintain the financial capacity to consider the possibilities of the bioeconomy.”

Regarding the project for a new industrial plant for the production of sustainable textile fibers in Galicia, the CEO says he intends to announce the final investment decision in the first half of next year. Regarding the Gama project, Altri also notes that it continues to move forward in the main areas of decision-making, namely in the field of environmental impact study, engineering design, economic viability, funding structure and access to European Union funds.

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In addition to the international context of increased demand for pulp, Altri notes that stock levels in European ports are still well below the averages of recent years, “having reached the lowest level in the last five years in July 2022”, which “has a positive impact on prices for wood fiber (BHKP), which remained at $1,380 per tonne in the third quarter.”

In terms of year-end outlook, the group notes that “decreasing inventory levels in European ports, combined with strong demand in key segments such as fabrics, are good indicators for the near future.”

On the supply side, he highlights that “global logistics is in the process of normalizing but still has some impact on many value chains.”

Altri points out that “general variable cost inflation was a major concern for the group in 2022”, confirming that “rising natural gas prices, chemical prices and timber costs, largely attributable to increased imports, were the main drivers of the corresponding increase in production cost per ton.

Regarding the decisions made to minimize this effect, the group says that it has recently begun “introducing some solutions, namely by reducing the consumption of natural gas by using alternative products.”

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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