Portuguese paper maker Portucel Soporcel saw its sales fall by 12.2% in the first quarter of 2009, compared to the same period in 2008, due to further deterioration of conditions in the world pulp and paper market.
EBITDA was also down 26.3% to stand at 57.5 million euros. Despite the difficult market environment, Portucel Soporcel placed on the market approximately 275 thousand tons of paper, representing a substantial increase on sales in quantity in the 4th quarter of 2008 (up 6.5%). However, due to a decrease in average sales prices, down by 4.5% on the previous quarter, growth in the value of sales stood at only 1.7%.
“In this difficult environment, the Group will continue to work to broaden the range of countries in which it sells its products and to bolster its position in markets where it has the potential to expand its business, so as to maintain its usual levels of operational success,” the company said in a statement.