Ence is the first company in its sector to receive this recognition, which certifies an efficient management system to prevent the commission of crimes and reduce the company's criminal risk.
November 26, 2018.- Ence-Energía y Celulosa has received the AENOR certificate of Criminal Compliance in accordance with the UNE 19601: 2017 standard, an accreditation that recognizes the company's commitment to compliance with...
The Strategic Plan is based on the diversification of raw materials, cellulose products and renewable generation technologies to increase the strength of the Group.
It contemplates committing the investments in stages to maintain their low level of leverage by paying 50% of the BDI in dividends.
The company will invest more than € 1,100 million in growth and diversification of its Pulp...
November 12, 2018.- ENCE extends the green financing of its Renewable Energy subsidiary to 69 million euros for the new 46 MW low emission biomass generation plant that the Company is building in Puertollano (Ciudad Real) and whose conclusion is scheduled for the end of 2019.
This financing has a maturity of 7 years and includes an institutional "bullet" tranche amounting to...
Company's pulp business, which improved EBITDA by 58%, boosts the company's results.
Group's EBITDA rose to 213.6 million euros, 45% more than in the same period of 2017.
The strength of demand and the lack of large projects to increase capacity suggest a scenario of strong pulp prices for the coming years.
Ence has agreed to purchase a 50 MW thermosolar plant in...
October 18, 2018.- Ence Energía, S.L.U. has signed an agreement with Iberdrola Renovables de Castilla La Mancha, S.A.U. for the acquisition of its 90% stake in Puertollano solar thermal plant, for an amount that could reach up to 145.8 million euros. The agreement is subject to IDAE, owner of the remaining 10% of the plant, not exercising its right of first...
November 28th, 2018.- Reflecting on cellulose fundamentals and specifically on demand, it is necessary to insist that there are no new projects that could add capacity to the market slated to become operational before the second half of 2021. Only one project in Chile has been announced and, possibly, another in Uruguay for 2022, although the latter is yet to be...
July 24, 2018.- Ence - Energía y Celulosa achieved a net profit of € 50.3 million in the first half of the year, 60% higher than in the same period of 2018. The Group's EBITDA increased by 49% and reached € 130.8 million, driven by the improvement in the price of pulp and the incorporation of the 27 MW biomass...
June 21, 2018.- Ence-Energía y Celulosa started the assembly of the boiler of its new 40 MW plant in Huelva yesterday, with the first pillar and the frame of its metal structures set up. The process of assembling the structure begins hours after GBS, responsible of the production of the components of the boiler, made a new delivery of parts...
The Technical Advisory Committee has also increased the applicable coefficient to adjust the market capitalization of the company based on its free float up to the maximum of 100%.
At Friday’s close, ENCE's market capitalization amounted to € 1,761 million and its average trading volume approached € 6 million per day.
11 June 2018.- Ence-Energy & Pulp has moved up to IBEX MEDIUM...
With this improved rating, the Moody’s agency expressly recognizes the structural improvements in ENCE's business model as well as the expectation that pulp prices will remain strong for the next 2-3 years.
28 May 2018.- Moody's has raised the credit rating of Ence-Energy & Pulp one step from Ba3 to Ba2 with a stable outlook. This improvement is due to structural improvements...
27 April 2018.- Standard & Poor's has improved the long-term credit rating of Ence-Energy & Pulp from BB- to BB with a stable outlook. S & P has taken into consideration the solid operating performance of ENCE and the growing contribution of the company's independent energy business to the Group's results, which gives them greater stability.
It should be noted that ENCE...
25 April 2018.- After the agreement reached about a year ago with Elcogás for the purchase of the site of its GICC plant in Puertollano (Ciudad Real), and the environmental and administrative steps necessary to set up a biomass plant, Ence-Energy & Pulp has reached an agreement for the purchase of the rights for the installation of a 50 MW biomass...
24 April 2018.– Ence-Energy & Pulp achieved a net profit of € 29.5 million in the first quarter of the year, representing a 115% increase over the same period of the previous year. The Group's EBITDA improved by 54% after standing at € 62.9 million. The EBITDA of the Pulp business grew by 80%, driven by a 29% improvement in the...
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22 February 2018 – Ence Energía y Celulosa, S.A. (the “Company” or “Ence”) announced today the launch of an offering (the “Offering”) of €160 million in aggregate principal amount...
February, 20 th 2018- Ence - Energía y Celulosa achieved a net profit of € 91.8 million in 2017 ─138.6% more than the 38.5 million in 2016─ and earnings per share grew by 142.4 %.
The Group's EBITDA increased by 72% to reach € 216 million. Ignacio Colmenares, CEO of Ence, stressed that "this remarkable increase in profits confirms once again...
January 12, 2018.- ENCE announces a price rise of 20$/tonne on its prices for bleached eucalyptus kraft pulp (BEKP) effective from Febraury 1st 2018, setting its new list price in Europe at $1,020/tonne.
Market outlook for BEKP globally remains positive with strong demand in all markets including Europe and the inventories levels are very low.
January 3, 2018.- Ence - Energía y Celulosa has closed cellulose sales agreements for 2018 for 100% of its production target. The agreements reached represent an increase in the company's pasta sales over those reached in 2017 and assure Ence lower discounts than in 2017 on reference prices.
It should be noted that Ence has obtained such agreements in advance to...
November 22, 2017.- The Board of Directors of Ence has agreed to distribute a second interim dividend charged to the results of the fiscal year 2017 of 0.06 euros gross per share in cash, which represents an approximate gross amount of 14.7 million euros.
On September 6, Ence paid its shareholders a first dividend on account of 2017 of 0.061 euros gross...
The success in executing its Strategic Plan and the good performance of pulp prices leads Ence to triple its profit almost in the first nine months of the year.
The lack of significant new capacity increases in the world market anticipates high pulp prices in the next three years. Ence climbs to $ 970/ton the price of its cellulose as of...
October 17, 2017.- On October 13 Bankinter raised Ence's target price to € 5.63/share, 22% above the closing price on the same day, and reiterated its recommendation to Buy Ence shares based on an improvement in the outlook for eucalyptus pulp prices for the next three years.
This report follows the one published by Kepler Cheuvreux last October 6 in which it...
September 15, 2017.- The Territorial Delegation of Environment and Spatial Planning in Huelva has communicated to Ence Energía and Celulosa the Integrated Environmental Authorization of the future low emission renewable energy plant with biomass of 40 MW that the company will build in its Huelva operating headquarter. This is an important milestone in the development of the most advanced low-emission...
Ence's generation capacity increases by 19% after the acquisition of the plant which has a capacity of 27.1 MW. Estimated production is 190 million kWh/year.
Ence advances in the execution of its Strategic Plan, which contemplates achieving an EBITDA of its independent generation business of € 80 million in 2020.
Ence expects to achieve significant operating improvements through the optimization of the...
This strong increase occurred with a growth of the average price of pulp of only 1.5%. Higher prices are expected in the second half of the year given the favorable balance between demand and supply.
Production costs fell by 6.6% in the first half to €344 / t, close to the €339 / t target for 2017.
Free cash flow reached €43...
June 15 2017.- Ence announces a price rise of $50/tonne on its prices for bleached eucalyptus kraft pulp (BEKP) setting its list price at 900$/tonne in Q3, to be implemented progressively with following steps July 1st $15, August 1st additional $15, and September 1st additional $20.
Market outlook for BHKP globally remains positive with strong demand in all the markets, inventories continue...
September 22, 2017.- Ence anounces a price rise of 30$/tonne on its prices for bleached eucalyptus kraft pulp (BEKP) effective from October 1st 2017, setting its new list price in Europe at $940/tonne.
Market outlook for BEKP globally remains positive with strong demand in all markets including Europe. The increase in demand clearly outpaces the supply keeping the stock levels low. Specifically...
The company significantly improves its results despite the 9% decrease in the average price of pulp.
The results of the first quarter of the year confirm the implementation of the Ence Strategic Plan and the effectiveness of the measures implemented.
Production costs stood at €343/t, 8.5% less than in the first quarter of 2016, and close to the €339/t target set for...
The Company achieved good results in an adverse environment of low pulp and energy prices in 2016.
Ence advances in its Strategic Plan accomplishments: strong reduction of the cost production to €341/t within the fourth quarter. The Company speeds up its growth in energy from biomass, with a 29% increase of its power.
Financial strength: the net debt was reduced by 9.5%...
• Ence's generation capacity increased by 29% after the acquisition of the two plants, which have a capacity of 32 MW and an estimated production of 175 million kWh in 2016.
• New step of Ence in fulfilling its Strategic Plan, which plans to increase the capacity of its biomass generation business to 383 MW by 2020.
December, 15, 2016. Ence –...
The cost of production decreased to €355/t, well below €367/t registered in the second quarter, and close to the 4th quarter target, which stood at €350/t.
The global pulp demand remains strong, with an increase of 2.8% so far this year, driven by China, with an increase of 12.4%.
The energy business had a very favorable evolution in the third quarter, with...
The solid cash generation capability of Ence and its adjusted EBITDA margin of 22%, allows Ence to comfortably cover the planned investments and fulfill the commitment to remunerate its shareholders, even in an environment of very low pulp prices as the current one.
Continue to improve efficiency: the cost of production fell again in the second quarter to € 366.8/t, and...
Así trabaja Ence Pontevedra
A la vanguardia en Medio Ambiente
July 29, 2016 - Standard & Poor's has upgraded its outlook on Ence - Energía y Celulosa from stable to positive and maintains its BB- corporate credit rating .
The outlook improvement reflects the potential for a credit rating upgrade in the next twelve months due to Ence´s strong profitability and cash flow generation, along...
Así trabaja Ence Pontevedra
A la vanguardia en Medio Ambiente
Eucalyptus pulp demand (the one which manufactures Ence) rose 8.5% in the first two months of the year.
The company reduced its net financial debt by 9.7% over the first quarter of last year and stood at 241.9 million €.
Ence advances its asset divestment program by signing agreements arras sales amounting to €...
The extension of the concession for the Pontevedra plant and the award of 40 MW in capacity at the most recent biomass energy auction mark the first steps towards achieving the 2016-2020 Strategic Plan.
The Board will propose to the Annual Meeting a gross final dividend of €0.10 per share. Added to the interim dividend paid in October, it represents a total...
The company has three potential sites to conduct investment: Pontevedra, Villaturiel (Leon) and Huelva. Strong investment commitment from Ence, allocating € 61 million for environmental and operational improvements increasing up to € 135 million related to a new 40 MW biomass cogeneration plant.
The final selection of the location will depend on the best conditions and administrative and institutional facilities for project implementation. The...
The company has three potential sites to conduct investment: Pontevedra, Villaturiel (Leon) and Huelva.
The final selection of the location will depend on the best conditions and administrative and institutional facilities for project implementation.
It is estimated that the project will create more than 300 jobs during the two years of construction and some 750 direct and indirect jobs, once commissioning.
January 14, 2016.- Ence –...
The company would achieve an EBITDA of 375 million euros in 2020 to keep current levels in pulp prices and the exchange rate $ / €
The Strategic Plan will increase the current capacity of the pulp mill at 184,000 tons , increase renewable energy generation with 260 MW biomass and 9% reduced production costs
19 november 2015.- Ence - Energía y...
• The results reflect the success of its competitiveness plan and set the company on track to meeting its targets. Ence reduced production costs by 11%
12 November 2015.- Ence – Energía y Celulosa recorded a net profit of €35.1 million in the first nine months of the year compared to a loss of €139.7 million in the same period of 2014, while...
• The initial approximate amount will be EUR 250 million, due 2022, and targeted at national and international qualified investors.
• The purpose is to finance the redemption of the senior secured notes issued by the Company in February 2013
October 20, 2015.- Ence – Energía y Celulosa has initiated the commencement of a bookbuilding process for the purposes of issuing senior...
October 1, 2015.- The Board of Ence - Energía y Celulosa has resolved to distribute to shareholders a dividend of 0.044 euros per share. With this decision, the company complies with the statements made in the relevant statement last day July 21, 2015.
The payment of the dividend will take place on October 7 and represents a yield of 1.52% on the...
• The refinancing operation, adapting to new regulatory framework for renewable energy, will allow the company to amortize the previous funding and liquidity have an additional 31 million euros.
July 31, 2015.- Ence Energía y Celulosa has signed the refinancing of project finance loans of their plants generating electricity with biomass Huelva (50MW) and Merida (20MW). The company reduces the spread of...
The application also makes it possible to be informed of the grants of various forestry agencies to assist farmers eucalyptus.
June 22, 2015. Ence has this week made available to forest owners an APP for phones and tablets including a calculator on the amount of eucalyptus wood with which has a plot, taking into account various data, such as the total...
The company expects to reach in 2015 an EBITDA of 200 million and Free Cash Flow of 100 million
The Board of Directors announces its intention to distribute an interim gross dividend against 2015 earnings of €0.044/share during the month of October
July 22, 2015. The net result of Ence - Energía y Celulosa stood at € 22.1 million in the first...
106 workers from 11 Navia's contractors companies adds to the 350 employees in the Asturian Ence factory to implement the various proposed projects
June 19, 2015. From Monday June 8, 752 workers participated in the Annual Technical Stop of the Operations Center of Ence Navia, which is coming to an end. A total of 106 workers belongs to one of the...
• Presented as part of Carbon Expo, the most important European exhibition on climate change, the Declaration aims to promote support for Green Growth opportunities in Spain.
May 29, 2015. The Grupo Español de Crecimiento Verde, made up of some of the leading companies in Spain, among which is Ence - Energía y Celulosa, presented the so-called Delaración de Barcelona during...
The company consolidates its recovery and return to profit by achieving a net profit of 9.7 million euros in the first three months of the year, thanks to the success of its restructuring and measures to improve costs.
• Annualized EBITDA for the first quarter now exceeds 150 million, which was the objective of the recovery plan of the company results for...
It represents a return of 3% shareholder
• The successful restructuring and cost reduction plans of the company, the growth of pulp prices and the appreciation of the dollar, will mean a major boost to the results of Ence in 2015.
• Given the positive outlook for the continuity of the factory Ence in Pontevedra, Ence expressed strong commitment to environmental excellence...
The company has been distinguised among European companies from 30 industries, after consideration by the prestigious Institutional Investor between 1,107 763 financial analysts and investment managers.
April 4, 2015.- Ence – Energía y Celulosa has been chosen for the fourth consecutive year as the best European company in its sector for managing investor relations. This is highlighted in the 2015 edition of...
The dividend will take place on 8 May and it will mean a return to the shareholder close to 3%
26 March 2015.- The board of Ence – Energía y Celulosa propose to the General Meeting of Shareholders to distribute a cash dividend of 10 cents per share in circulation.
The dividend will be paid in cash on 8 May 2015 by voluntary...
The major savings achieved, the closure of Huelva, the commitment to biomass, and the favourable performance of pulp prices and the dollar will enable Ence to exceed 2015 EBITDA levels prior to the electrical reform, one year ahead of expectations.
27 february 2015.-Ence – Energía y Celulosa has concluded the restructuring plan implemented after the electrical reform one year ahead of...
• Every 5 cent rise in US$ supposes to Ence an increase of turnover exceeding €15 million. The average exchange rate in 2014 stood at $ 1.329/€ compared to current $ 1.18/€
13 January 2015.- Euro against US Dollar evolution is boosting sales revenue Ence - Energía y Celulosa. Operations in the global pulp sector are referenced in American currency, so...
The company close pulp sales agreements for next year by a volume of 930,000 tons.
Ence has undertaken a thorough restructuring of its customer base after the closure of the pulp mill in Huelva, allowing the company to maximize sales margin and consolidate its business strategy.
22 December 2014.- Ence - Energy and Pulp has managed to close up to date pulp...
Alfredo Avello appointed CFO of Ence - Energy and Pulp
03 December 2014.- Alfredo Avello de la Peña has been appointed CFO and member of the Steering Committee of Ence. Avello will lead the development of the policy of capital markets and investor relations, as well as the processes planning, control management, administration, information systems company and corporate development.Alfredo Avello has...
The Company is on the path to a return to profits after reducing losses at its pulp production facility in Huelva3rd November, 2014.- The competitiveness recovery plan presented last May by Ence to overcome the impact of the Electrical Reform begins to produce results and clears the way for the Company to return to profits. After the Huelva pulp production...
Ence is investing €127 million in boosting its competitiveness and regenerating profits
Ence's adjusted EBITDA totalled €24.6 million in the first semester.
Net loss for the period – without considering the non-recurring write-offs as a result of the electricity reform – was €16.2 million vis-à-vis the losses of €14.8 million reported in the first quarter of 2014.
In the semester, Ence reported non-recurring...
Ence has embarked on an intensive investment and cost reduction programme
The result in 1Q14 was a net loss of €14 million, compared with a net profit of €13 million in 1Q13.
The electricity pool was exceptionally low in 1Q (€26/MWh compared with an average of €52.1/MWh in the previous quarter), accentuating the impact of the electricity sector reform.
The anticipated increase in...
Ence announces the reduction of its offer price in wood’s sells in the north of Spain
The electric reform from the Spanish Government do not recognized the energetic value of wood, reducing drastically and retroactively the retribution to energy cogeneration with wood.
Despite that the pulp price in international market has been reduced more tan 7.5% since June 2013, the wood’s price...
Ence increased its results by 4% in 2012
The net profits for the year amounted to €43 million
The result of 4Q amounted to €14.2 million, up 11% on the previous quarter. The result of the last quarter of 2012 is four times compared to the same quarter of 2011.
Solid operating results: The accumulated adjusted EBITDA for the year stands at €175...
The Forum for the Sustainability of the Andalusian Eucalyptus has been created in Huelva
In Huelva environmentalists, authorities, and Ence promote a consensus for sustainable management of Andalusian eucalypti
The Forum is open to other stakeholders in sustainable forest management, and includes representatives of the Regional Autonomous Government of Andalusia, the Fuegos Nunca Más Platform, Greenpeace, Tragsa, Ence, the Universidad de Huelva...
Payment of Ence’s bond issue amounting to EUR 250 million
The demand for securities reached EUR 1.1 billion, more than 4 times that of the initial offer made by Ence.
01 February 2013.- The bond issue of Ence Energía y Celulosa, amounting to EUR 250 million with an annual fixed interest rate of 7.25% maturing in 2020, was closed and paid today.
Ence successfully completes placement of bonds amounting to € 250 million in the international capital market
The issue will pay interest at a fixed rate of 7.25% and will be redeemed in full in 2020.
The placement had support from international investors, the demand of which exceeded the securities offer by 4 times.
In addition, the company has reached an agreement with benchmark...
Ence reaches agreements for sales of more than 1.2 million tons of pulp for 2013
The company has secured sales at the outset of 2013 that are equivalent to the those of the entire previous year
Ence expects to export around 90% of its output in 2013, mainly to European countries where it will acquire more than 15% of the market share.