Ence reported a net profit of €0.5 million in the second quarter of 2026, driven by the recovery in pulp prices from previously recorded lows and by lower costs resulting from the implementation of the Efficiency and Competitiveness Plan for its Pulp business, announced by the company.
Consolidated EBITDA for the second quarter of 2026 amounted to €27 million, up 16% on the same period in 2025, when the result included €10 million from Energy Saving Certificates (CAEs).
Speciality pulps: a strategic commitment
Within the Pulp business, the company also made further progress as a producer of speciality pulps that substitute long-fibre pulp, including its new fluff pulp production line for the hygiene and incontinence products market, which is currently undergoing customer qualification.
These speciality pulps, which generate an average additional margin of €36 per tonne compared with standard pulp, accounted for 34% of sales in 2026, up from 30% in 2025. The company’s objective is for this figure to exceed 62% by 2028, further strengthening Ence’s position as the most competitive producer of long-fibre pulp substitutes.
Lower cash cost
In line with the company’s focus on cost reduction, cash cost (production cost) in the Pulp business fell to €455 per tonne in the second quarter of 2026, €67 per tonne lower than in the previous quarter. This improvement reflects Ence’s continued focus on implementing its Efficiency and Competitiveness Plan.
Moeve selects Magnon for a strategic project at its Huelva refinery
The renewable industrial heat business continued to accelerate its growth during the second quarter, with a new project comprising two boilers entering into operation. The company expects to end 2026 with five projects in operation, compared with one at the end of 2025.
In addition, Moeve has selected Magnon Servicios Energéticos, Ence’s subsidiary, as its partner to develop a thermal energy plant at its Huelva refinery. The two companies are currently in the final stage of contractual negotiations. The large-scale project is expected to generate more than 350 GWhth of thermal energy and has been designated a Strategic Project by the Regional Government of Andalusia.
Progress in biomethane
In biomethane, the company has built a portfolio of 41 projects with a potential production capacity of up to 4 TWh, compared with its target of 1 TWh by 2030. Of these, 28 projects are currently in the engineering and permitting phase. The company expects to obtain its first Integrated Environmental Authorisation (IEA) during the second half of 2026.
