Altri : Results in line with estimates, pulp price decline set to weigh on the coming quarters
>Results in line with estimates - Results were in line with our estimates, reflecting the correction in pulp prices and maintenance downtime at the Celbi plant. Indeed, sales came in slightly above our estimates but lower margins drove EBITDA to € 50m vs € 52m expected. The destocking process along the pulp and paper value chains in Europe led to a decrease in volumes and declines in fibre prices. Pulp production stood at 240k tonnes (-14.5% y-o-y, -17.5% q-o-q) due t...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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