Europac Increases Its Net Profit by 59,4 per Cent
The Board of Directors of the Europac Group has approved its 2017 annual accounts, which recorded a net profit of 78 million euros, 59.4% up on 2016. Aggregate sales increased by 10.9% to 1,186 million euros, Aggregate sales increased by 10.9% to 1,186 million euros, while consolidated sales reached 868 million euros, 8.4% more than a year ago. Consolidated EBITDA amounted to 158 million euros, 25% up on the 127 million euros of the previous year, while recurring EBITDA totalled 147 million euros, 19.3% up on the previous year.
The difference between consolidated and recurring EBITDA is mainly due to the extraordinary effects of the sale of the packaging factory in Tangier and the logistics operator at the port of Viana do Castelo, as well as settlement of the guarantees linked to the acquisition of the paper and packaging factories in Rouen (France) in 2008. In this context, the EBITDA margin rose by 2.4 percentage points to 18.2%, while EBIT amounted to 106 million euros, 37.1% up on the previous year.