Report
Luis de Toledo Heras

Iberpapel : Resilient business model at historical discount

>Outperform rating maintained on attractive valuation - We are fine-tuning our estimates following the release of 2023 accounts and some recent corporate announcements (dividend, investments). We reiterate our Outperform rating based on its attractive valuation (3.2x EV/ EBITDA 2024e) and integrated (250kt paper, 240kt pulp, 60MW power) and flexible business model which continues to allow the group to adapt to a volatile market environment (paper and pulp demand and ...
Underlying
Iberpapel Gestion S.A.

Iberpapel Gestion is engaged in the manufacture, wholesale distribution, sale and export of pulp and printing and writing paper. In addition, Co. maintains forestry activities, including the cultivation of timberlands.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Luis de Toledo Heras

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