Q3 2023 Ence Energia y Celulosa SA Earnings Call Transcript

Mar 04, 2024

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Oct 31, 2023 / 05:00PM GMT
Operator

Ladies and gentlemen, welcome to the ENCE Third Quarter 2023 Results Presentation. I now hand you over to Ignacio Colmenares, Executive Chairman; and Alfredo Avello, CFO. Please go ahead.

Ignacio de Colmenares y Brunet - ENCE EnergÃa y Celulosa - S.A. - Chairman, CEO & MD

Thank you. Good afternoon, ladies and gentlemen. Thank you for joining ENCE's Third Quarter 2023 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 Slide 6 and the key highlights. Firstly, pulp prices in Europe have started to recover after falling during the second and third quarter. Main pulp producers have announced several price increases up to $980 per tonne from November.

Secondly, we reduced our cash cost by EUR 152 per tonne in the second and third quarters, down to EUR 484 per tonne. This partially mitigated the 37% fall in net pulp prices during the same period.

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