Altri : Pulp prices to extend results momentum into H1 2024
>Operating results in line, lower financial and tax charges drive net profit beat - Altri results came slightly above our estimates at the operating level (+4.7% EBITDA). As expected, Q4 2023 results reflect a large sequential improvement in market conditions (+7.4% growth in sales vs Q3 2023, EBITDA margin of 21.3% vs 9.3% in Q3 2023) on higher pulp prices (+9% q-o-q: demand recovery in Asia, end of destocking process) and contained cash costs (normalization of energ...Altri SGPS is a holding company based in Portugal. Co. is engaged in management of investments mainly in the industrial sector. Through its subsidiary companies, Co. is engaged in the production of pulp and paper through the Celbi, Celtejo and Caima Groups. Pulp is the core business of Co. and the focus is on bleached eucalyptus pulp. Co.'s three pulp mills, Celbi, Caima and Celtejo, produce over 550,000 tonnes per year. The paper mill, CPK, produces 60,000 tonnes of sack kraft paper per year. Co. manages over 78,000 ha of forest in Portugal certified by the Forest Stweardship Council.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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