Altri : Q1 2024 results in line with estimates, pulp prices to drive further profitability improvement
>Pulp price momentum to boost profitability in Q2 - Strong results (EBITDA +26% q-o-q), in line with our estimates, with EBITDA at € 50m (-0.3% y-o-y), reflecting profitability improvements (EBITDA margin of 22.5% despite average prices being -17% vs Q1 23 as volumes increased by +19%, and cash costs dropped by -17%). However, pulp prices are seeing a sequential improvement (+23% q-o-q to $ 1,120/t) supported by strong demand momentum (+10% in BHKP driven mainly by ...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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