​Main conclusions of the January-June 2024 results:

• Revenue of €593.1 million, -5.6% vs. 1H23, with energy revenue down -38.1% as compared with  -2.2% in the Traditional Business and -10.7% in New Business.

• EBITDA of €131.6 million, a growth of +1.7% versus last year and of +3.0% in like-for-like terms with a +1.6 p.p. improvement in reported EBITDA margin to 22.2%.

• New all-time high in Net Profit in the first half at €68.8 million, +9.5% up on the previous year.

• Net bank debt of €197.3 million in June 2024 including the payment of €33.2 million in June to shareholders who have chosen to receive the Final dividend in cash, and the cash outflow of €60.5 million from the share buybacks carried out within the flexible remuneration program.

• José Antonio Canales, Viscofan Group CEO: 

“These results confirm our business model strength and our ability to improve profitability. We have combined a more favourable cost environment with commercial discipline and greater efficiencies in our plants.

The inventory adjustment process in the market is coming to an end with volume growth in collagen and fibrous technologies, tough volume growth is still negative in cellulose. 

With this context we are in a privileged position to capture the expected growth in the second half of the year with higher margins and operating leverage, while we reinforce our presence in Asia Pacific in the long-term with the start-up of a new converting plant in Thailand in the fourth quarter”.

All information regarding the results is available on Viscofan Investor Relations website LINK