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    ALTR   PTALT0AE0002

ALTRI, SGPS, S.A.

(ALTR)
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Altri SGPS S A : Portugal's Altri first-half profit jumps as market conditions improve

07/29/2021 | 01:06pm EST

LISBON, July 29 (Reuters) - Portuguese paper pulp producer Altri said on Thursday its net profit rose almost five fold to 44.8 million euros ($53 million) in the first half of the year, boosted by price increases and a progressive recovery in global demand.

Sales increased 17.9% to 386.9 million euros after the company sold 595,000 tons of paper pulp, of which 96% were exported to markets outside Portugal.

The company said in a statement it took advantage of a progressive recovery in demand in most markets, accompanied by successive announcements of price increases.

Chief Executive Jose Pina said the company had a strong operational and financial performance, with quarterly and half-year production and sales records.

"The company demonstrated that it is prepared to face this challenge (the pandemic), with resilience, creativity and a focus on delivering results," he said.

Altri said the international PIX price for bleached hardwood kraft pulp rose to $865 a ton as of June from $680 at the end of 2020.

Core earnings or EBITDA increased around 73% to 108.8 million euros in the first half and its operating margin improved to 28.1% from 19.2% in the same period of 2020.

Although Altri sees "more stability" in pulp prices in the second half, there were "consistent signs of solid demand in Europe", it said.

($1 = 0.8419 euros) (Reporting by Sergio Goncalves Editing by David Holmes)


ę Reuters 2021
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Financials
Sales 2021 830 M 939 M 939 M
Net income 2021 128 M 145 M 145 M
Net Debt 2021 489 M 553 M 553 M
P/E ratio 2021 7,84x
Yield 2021 5,91%
Capitalization 989 M 1 119 M 1 120 M
EV / Sales 2021 1,78x
EV / Sales 2022 1,90x
Nbr of Employees 765
Free-Float 30,2%
Chart ALTRI, SGPS, S.A.
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Altri, SGPS, S.A. Technical Analysis Chart | ALTR | PTALT0AE0002 | MarketScreener
Technical analysis trends ALTRI, SGPS, S.A.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 4,82 €
Average target price 7,71 €
Spread / Average Target 59,9%
EPS Revisions
Managers and Directors
JosÚ Armindo Farinha Soares de Pina Chief Executive Officer & Director
JoŃo Manuel Matos Borges de Oliveira Vice Chairman & Chief Financial Officer
JosÚ Antˇnio Nogueira dos Santos Executive Director-Finance & Director
Alberto JoŃo Coraceiro de Castro Chairman
Pedro Nuno Fernandes de Sß Pessanha Da Costa Chairman-Supervisory Board
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