Bankinter S.A. - ENCE Energia y Celulosa SA (ENC) Ence: 9M18 results preview: We expect a record quarter

Report

Bankinter S.A.

Pedro Echeguren

EUR 10.00 For Business Accounts Only

Ence: 9M18 results preview: We expect a record quarter

Ence will report its 9M18 results on Wednesday, 31st October. There will be a conference call on 5th November at 16:00h CET.
Volume growth should drive sales in 3Q18e
We expect flat operating margins from 1H18
Recommendation: Hold

29/10/2018 10 EN

Underlying

ENCE Energia y Celulosa SA

Ence Energia Y Celulosa is engaged in the manufacture and commercialization of wood pulp and derivatives. Co. divides its activities into the following two business lines: Forest Division: Co. manages timberlands in South America and the Iberian Peninsula. Co. is involved in trading of wood, and supplies solid wood products including: plywood, sawn timber, parquet flooring and glued-edge paneling. Co. is involved in forest and environmental consulting. Pulp Division and Energy Production: Co. is engaged in the production of Eucalyptus globulus-based TCF and ECF paper pulp. Co. is also involved in the generation of electricity through biomass power producing plants.

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ES0130625512 Madrid Stock Exchange Spain

Provider

Bankinter S.A.

Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.

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Analysts

Pedro Echeguren

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Ence: 9M18 results preview: We expect a record quarter

INFORME DIARIO 06 FEBRERO + RDOS. ESPAÑA Y EUROPA 4T'25. IDEAS DESTACADAS Y PREVIEWS (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 06 FEBRUARY + 4Q’25 RESULTS. HIGHLIGHTS (ANÁLISIS BANCO SABADELL)

ENCE: MEJORA DE LOS PARÁMETROS RETRIBUTIVOS PARA LA GENERACIÓN CON BIOMASA (ANÁLISIS BANCO SABADELL)

Reig Jofre: EBITDA maintains its growth in 1H20 (+40%) driven by sales (+25%) and cost efficiencies

Reig Jofre: EBITDA increased +43% in 1Q20 fuelled by sales (+26%) and a higher EBITDA margin

Reig Jofre: EBITDA (adj.) +17% in 2019 and guidance is 2x in a five-year plan

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