Lecta Q1 Report 2024
Highlights
- Revenue
- For the first quarter ended 31 March 2024 PIF Group had revenue of €360.5 million versus €334.8 million in the first quarter ended 31 March 2023, an increase of €25.7 million or 7.7%.
- Higher sales of CWF, Specialties and Purchased Products of €29.5 million or 9.4%, from €313.1 million in 1Q2023 to €342.6 million in 1Q2024, resulting from higher sales volumes of 62,300 metric tonnes or 32%, with 254,400 metric tonnes in 1Q2024 vs 192,400 metric tonnes in 1Q2023.
- Lower sales of energy of €(3.8) million or -18%, from €21.7 million in 1Q2024 to €17.8 million in 1Q2023, resulting from higher sales volumes of 56,100 MWh or 46%, with 121,500 MWh in 1Q2024 vs 177,600 MWh in 1Q2023.
- Raw Materials and Consumables Used
- The costs of raw materials and consumables used increased by €31.7 million, or 21.9%, from €144.9 million in 1Q2023 to €176.5 million in 1Q2024, and as a percentage of revenue they increased from 43.3% in 1Q2023 to 49.0% in 1Q2024.
- Labor Costs
- Labor costs increased by €3.7 million, or 9.1%, from €41.0 million in 1Q2023 to €44.7 million in 1Q2024, and as a percentage of revenue they increased from 12.2% in 1Q2023 to 12.4% in 1Q2024.
- The headcount decreased by 151 FTE, from 2,844 employees in 1Q2023 to 2,693 employees in 1Q2024.
- EBITDA
- EBITDA increased by €40.7 million, from €(4.1) million in 1Q2023 to €36.6 million in 1Q2024. This increase was essentially due to higher sales of paper in volume and lower variable costs, partially compensated by lower sales price and higher fixed costs