Lecta Publishes its Q1 2018 Results

For the first quarter ended 31 March 2018, Lecta had revenue of €375.4 million versus €376.3 million in the first quarter ended 31 March 2017, a decrease of €0.9 million or -0%. This decrease was attributable to:
• Higher sales of CWF, Specialties and Purchased Products of €+5.6 million or +2%, from €350.4 million in 1Q2017 to €356.0 million in 1Q2018, resulting from lower sales volumes of 13,700 metric tons or -3%, 386,700 metric tons in 1Q2018 vs 400,400 metric tons in 1Q2017, but an increase in average net sales price of +46€/t or +5%, 921€/t in 1Q2018 vs 875€/t in 1Q2017; and
• Lower sales of energy of €-6.5 million or -25%, from €25.9 million in 1Q2017 to €19.4 million in 1Q2018, resulting from lower sales volumes of 52,700 MWh or -17%, 256,600 MWh in 1Q2018 vs 309,300 MWh in 1Q2017, and a decrease in average sales price of -8€/MWh or -10%, 76€/MWh in 1Q2018 vs 84€/MWh in 1Q2017. The lower sales volume in 1Q2018 was due to the planned downtime in Motril and Zaragoza cogeneration plants for the replacement of the gas turbines.

EBITDA decreased by €4.9 million, or -16%, from €30.2 million in 1Q2017 to €25.3 million in 1Q2018. This decrease was the result of lower sales of paper in volume, higher net energy costs, distribution, selling variable costs, labor, maintenance and production consumables costs, partly offset by lower costs of packaging materials, outsourcing and overheads costs, in a context of higher unit gross margin.
more detail at: https://cmspro.lecta.com/DownloadAreaDocuments/Lecta_Group_Management_report_31_03_2018.pdf

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