Lecta Publishes its Q2 2020 Results

For the quarter ended 30 June 2020, Lecta had revenue of €206.6 million versus €345.6 million in the quarter ended 30 June 2019, a decrease of €139.0 million or -40.2%. This decrease was essentially attributable to Covid-19 pandemic: • Lower sales of CWF, Specialties and Purchased Products of €-127.5 million or -39.7%, from €321.2 million in 2Q2019 to €193.7 million in 2Q2020, resulting from lower sales volumes of 124,200 metric tons or -39.8%, 187,700 metric tons in 2Q2020 vs 311,900 metric tons in 2Q2019, and a slight increase in average net sales price of +2.4€/t or +0.2%, 1,032€/t in 2Q2020 vs 1,030€/t in 2Q2019; and • Lower sales of energy of €-11.6 million or -47.2%, from €24.5 million in 2Q2019 to €12.9 million in 2Q2020, resulting from lower sales volumes of 105,400 MWh or -35.8%, 189,000 MWh in 2Q2020 vs 294,400 MWh in 2Q2019, and a decrease in average sales price of -15€/MWh or -18%, 68€/MWh in 2Q2020 vs 83€/MWh in 2Q2019.

EBITDA decreased by €24.4 million, or -91.1%, from €26.8 million in 2Q2019 to €2.4 million in 2Q2020. . This decrease was the result of lower sales of paper in volume, partly offset by higher margin on variable costs and lower fixed costs.

For the six months ended 30 June 2020, Lecta had revenue of €523.2 million versus €734.6 million in the six months ended 30 June 2019, a decrease of €211.3 million or -28.8%. This decrease was essentially attributable to Covid-19 pandemic as from mid-March: • Lower sales of CWF, Specialties and Purchased Products of €-187.7 million or -27.6%, from €680.8 million in 1HQ2019 to €493.0 million in 1H2020, resulting from lower sales volumes of 179,000 metric tons or -27%, 487,700 metric tons in 1H2020 vs 666,700 metric tons in 1H2019, and a decrease in average net sales price of -10€/t or -1%, 1,011€/t in 1H2020 vs 1,021€/t in 1H2019; and • Lower sales of energy of €-23.6 million or -43.9%, from €53.8 million in 1H2019 to €30.2 million in 1H2020, resulting from lower sales volumes of 116,900 MWh or -19%, 498,700 MWh in 1H2020 vs 615,700 MWh in 1H2019, and an decrease in average sales price of -27€/MWh or -31%, 61€/MWh in 1H2020 vs 87€/MWh in 1H2019.

EBITDA decreased by €26.9 million, or -50.3%, from €53.5 million in 1H2019 to €26.6 million in 1H2020. This decrease was the result of lower sales of paper in volume, partly offset by higher margin on variable costs and lower fixed costs.
details at: https://cmspro.lecta.com/DownloadAreaDocuments/Lecta_Group_Management_report_30_06_2020.pdf