Lecta Ltd Interim Report as at 30 June 2022

For the second quarter ended 30 June 2022 Lecta had revenue of €529.4 million versus €310.7 million in the second quarter ended 30 June 2021, an increase of €218.7 million or +70%.

The variation can be broken down as follows:
• Higher sales of CWF, Specialties and Purchased Products of €218.7 million or +70%, from €310.7 million in 2Q2021 to €529.4 million in 2Q2022, resulting from higher sales volumes of 25,500 metric tonnes or +8.7%, with 319,400 metric tonnes in 2Q2022 vs 293,900 metric tonnes in 2Q2021, and a increase in average net sales price of 546€/t or +56%, with 1,518€/t in 2Q2022 vs 973€/t in 2Q2021; and
• Higher sales of energy of €19.6 million or +79%, from €24.8 million in 2Q2021 to €44.5 million in 2Q2022, resulting from lower sales volumes of 50,600 MWh or -18%, with 224,100 MWh in 2Q2022 vs 274,700 MWh in 2Q2021, and an increase in average net sales price of 108€/MWh or +119%, with 199€/MWh in 2Q2022 vs 91€/MWh in 2Q2021.

The costs of raw materials and consumables used increased by €75.7 million, or +18.6%, from €155.9 million in 2Q2021 to €231.6 million in 2Q2022, and as a percentage of revenue they decreased from 50.2% in 2Q2021 to 43.7% in 2Q2022. The absolute increase was mainly attributable to higher produced and purchased volumes, and to an increase in the average consumption price of pulp of 193€/t of paper.

Labor costs increased by €5.2 million, or +11.9%, from €43.4 million in 2Q2021 to €48.5 million in 2Q2022, and as percentage of revenue they decreased from 14.0% in 2Q2021 to 9.2% in 2Q2022.

EBITDA increased by €35.9 million, from €11.6 million in 2Q2021 to €47.5 million in 2Q2022. This increase was essentially due to higher sales of paper in volume and higher sales prices, partly offset by higher production cost and higher labor and fixed costs.
details at: https://cmspro.lecta.com/DownloadAreaDocuments/LectaLtd_Q2_2022_InterimReport.pdf

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