The Altri Group achieved, in 2021, a record in the production of cellulosic fibers, but also a growth in its sales, in a period marked by the high prices of pulp in international markets.
At the Altri Group’s pulp production units in Portugal — Celbi, Biotek and Caima — there was an absolute record of production and sales in the 12 months of 2021. In this period, 1.126 million tons of pulp were produced (an increase of 2.2% compared to 2020). Sales in the same period also reached a record, recording around 1.158 million tons (an increase of 5.0% compared to 2020), with foreign markets absorbing 996 thousand tons, equivalent to 86% of the total.
In this context, considering that the PIX market price of Pasta BHKP increased to US$ 1,140/ton at the end of 2021, which compares with US$ 680/ton at the end of 2020, the Altri Group’s total revenues reached €793, 4 million in 2021, an increase of 38% compared to 2020.
José Soares de Pina, CEO of Altri, points out that “despite all the constraints arising from the pandemic, with high restrictions in terms of logistics in global terms, we were once again able to surpass ourselves, reaching levels of production of cellulosic fibers, but also of turnover, unparalleled in the history of our Company.”
Operating costs grew by 18.6%, as a result of generalized inflationary pressure from production factors. Even so, EBITDA reached €227.7 million, an increase of 132.7% year-on-year, with the EBITDA margin reaching 28.7%, an increase of 11.7 percentage points, revealing the continuous demand for efficiency improvement of the various biorefineries.
The Altri Group’s net income reached €123.7 million, a significant increase compared to the €24.7 million recorded in 2020, excluding GreenVolt, which is now considered a “Discontinued Operation” in terms of reporting financial information.