(News from RISI) – Brazilian tissue producer Santher’s third quarter revenues hit Real 337 million ($130 million), an 11% increase over the same quarter of 2013.
Through September, the company sold Real 956.7 million, or 10.3% more than a year ago.
Santher said the results were mainly supported by higher average prices and sales of value added products.
The company’s July-September 2014 EBITDA increased 36.9% to Real 49 million year-over-year, while net income totalled Real 640,000 compared to a net loss of Real 950,000 a year ago.
“Santher’s actions to improve sales, enhance price policies and sales mix, as well as gain operational efficiency and reduce costs, supported a firm evolution in our gross margin and EBITDA margin in 2014,” the company said, adding that during this year the value of traded products are also 6.9% higher than 2013.
According to Santher’s financial report, the current Brazilian economic scenario is very challenging, with a strong slowdown noted by research institutes and industrial production moving down 2.9% in the first nine months of 2014 over the same period of 2013.
“But besides the economical disadvantages, Santher continues to obtain substantially better results.
“At the end of this period, the company improved its net revenues and EBITDA compared to the same period of last year and for the third quarter in a row obtained a net profit.”
On Sept. 30, 2014, Santher’s net debt totaled Real 466.9 million. The company’s leverage level also moved down from 3.7x last year to 2.9x this September.