ENCE Energia y Celulosa SA (XMAD:ENC)
€ 2.704 -0.058 (-2.1%) Market Cap: 655.81 Mil Enterprise Value: 886.21 Mil PE Ratio: 15.11 PB Ratio: 1.21 GF Score: 74/100

Q3 2024 Ence Energia y Celulosa SA Earnings Call Transcript

Oct 30, 2024 / 03:00PM GMT
Release Date Price: €2.91 (+2.39%)
Operator

Good morning, ladies and gentlemen. Welcome to the Ence Third Quarter 2024 Results Presentation. I will now hand the call over to Mr. Ignacio Colmenares, Executive Chairman; and Alfredo Avello, CFO. Gentlemen, please go ahead.

Ignacio de Colmenares Brunet
Ence Energia y Celulosa SA - Executive Chairman of the Board, Chief Executive Officer

Good afternoon, ladies, and gentlemen. Thank you for joining Ence's third quarter 2024 results conference call. Our CFO, Alfredo Avello; and our Head of IR, Alberto Valdes, are also connected to this call. After the presentation, we will be pleased to answer any questions you may have.

I would like to start with the main highlights of the quarter on slide 6. We (technical difficulty) a strong operating margin of EUR190 per tonne in the quarter. Hardwood pulp prices in Europe declined by over 20% from their peak in July, driven by pulp destocking in China and the start of new capacity additions. European hardwood pulp reached a gross price of $1,160 per tonne in October, equivalent to a net price of around USD650 per

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