- Ence’s net profit increased by 41% last year and the dividend paid to shareholders increased by 69%.
- Before the acquiescence in the procedures of the Concession of Ence-Pontevedra, the company will demand patrimonial responsibility to the State for the damages and damages caused, in defense of its shareholders, employees and suppliers.
- Ence maintains the operating profit forecasts of its Strategic Plan 2019-2023 and does not renounce its goals of creating value for the shareholder.
The General Meeting of Ence – Energía y Celulosa has approved the payment of a complementary dividend of € 0.054 gross / share, which will be effective on April 11. Together with the interim dividends already paid, it totals a gross dividend of € 0.263 / share paid for the year 2018. In total, the amount paid as a dividend by the company in 2018 amounts to 63 million euros, 69% more than in 2017.
In his speech, the president of Ence, Juan Luis Arregui, said that “the company has closed in 2018 a magnificent year.” Ence reached a net profit of € 129 million in 2018, 41% more. The Net Profit per Share increased from € 0.37 in 2017 to € 0.53 in 2018.
In relation to the search of the General Directorate of Costs in the proceedings at the National Court on the concession of the Pontevedra biofactory, the Chief Executive Officer of Ence, Ignacio Colmenares, stated that “the strength of our company’s balance sheet and the duration of 4 After 6 years, the entire legal process will allow us to maintain the EBITDA forecasts of our Strategic Plan 2019-2023 and not renounce the objectives of creating value for our shareholders.
Colmenares stressed that “we are convinced that the legal reason is present, but we also have the company’s name: we can not forget that more than 5,000 families depend on the biotechnology factory in Pontevedra”. The Chief Executive Officer stated that the plant has a fixed workforce of 400 employees, to which 2,700 jobs are added from contractors in the industrial, logistics and transport areas, as well as over 2,100 jobs in the forestry sector in Galicia.
In January of this year, and before the aforementioned acquiescence, the National Court issued a judgment dismissing in its entirety the appeal filed against the partial revocation and condemning the city of Pontevedra to pay the costs, a sentence that confirms the solidity of the legal position and the arguments of Ence.
Ence has agreed to authorize the Chief Executive Officer and the Secretary of the Board to defend the interests of the Company, its shareholders, workers and suppliers until the last instance, including the requirement of financial liability to the State for the damages caused, and the personal responsibilities that proceed.
Ignacio Colmenares stressed that “Ence’s industrial activity is governed by the highest standards of environmental responsibility. The parameters of the biofactory improve, broadly, the most demanding European and Spanish environmental standards and authorizations. Proof of this is the richness of the shellfish banks that are located next to the pontevedresa biofactory or that all the beaches close to it have an EU blue flag. ”
On the other hand, Colmenares stressed in his speech “the opportunities to grow to diversify and to double our results”, opportunities that the company will take full advantage of in its new Strategic Plan 2019-2023. “The growth of the urban population and the increase in the standard of living in emerging countries are driving the increase in the demand for hygienic and absorbent products, as well as viscose for textile applications. To take advantage of these opportunities, we will carry out investments of up to 500 million euros in Cellulose to increase its production capacity, “he stressed.
“In the Energy business, we will take advantage of Spain’s need to increase generation from renewable sources up to 70%, in order to meet the European Union’s objective. For this, we have planned investments of 615 million euros in generation with biomass, as well as solar thermal and photovoltaic energy, giving entry into our generator park to these technologies, “he said.
The General Meeting of Shareholders of Ence also approved the appointment of Amaia Gorostiza Tellería and Irene Hernández Álvarez, as independent directors of the company, which allows Ence to advance in its commitment to ensure the balanced presence of women and men in the Board of Directors.