Q1 2025 Altri SGPS SA Earnings Call Transcript
Key Points
- Global pulp demand increased by 4.8% in Q1 2025, driven by a 4.5% growth in hardwood pulp demand.
- The Celbi turbine resumed operations in late March, expected to improve efficiency and reduce costs.
- Altri completed the acquisition of Greenalia Forest and Logistics, enhancing raw material supply.
- Altri's ROCE remains strong at 21%, above its historical average and industry standards.
- Altri was recognized as an ESG top-rated company by Sustainalytics, highlighting its commitment to sustainability.
- EBITDA decreased by 41% year-on-year, with an EBITDA margin of 14.5%, due to lower pulp prices and energy instability.
- Revenues decreased by 9% year-on-year in Q1 2025, despite a 10% increase over the previous quarter.
- Dissolving pulp demand growth slowed to 1% from 6% in 2024, impacted by global trade uncertainties.
- The US commercial trade policies introduced economic uncertainty, particularly affecting China's pulp demand.
- Higher energy costs and instability due to the Celbi turbine stoppage impacted cash costs negatively in Q1 2025.
Good morning. We welcome you to the Altri Quarter 1 2025 Results Conference Call. (Operator Instructions)
We have with us Mr. Jose Pina, the CEO of the Altri Group; Mr. Miguel Silva, the group's CFO; and Mr. Rui Cesario, Head of IR. Mr. Jose Pina and Mr. Miguel Silva will give a brief description of Quarter 1 2025 results, and the floor will be open to Q&A.
I'll now hand the conference over to Mr. Rui Cesario, Head of IR of the Altri Group.
Good morning. Thank you for joining us at Altri's first quarter '25 Results Conference Call. We'll review our financial performance, comment on market conditions operational highlights and future perspectives, followed by Q&A at the end. To do that, we have with us today, CEO of Altri, Mr. Jose Pina, and Mr. Miguel Silva, the group's CFO. I'll hand over to Mr. Jose Pina.
Good morning, everyone, and
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