Bio-PAPPEL improves profits in 3Q; completes energy cogeneration plant construction in Veracruz, Mexico

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Bio-PAPPEL improves profits in 3Q; completes energy cogeneration plant construction in Veracruz, Mexico

November 13, 2013 - 13:30
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SAO PAULO, Nov. 6, 2013 (RISI) - Bio-PAPPEL had a 3.4% increase in the third quarter EBITDA to $33.7 million over the $32.6 million posted in the same period of 2012. The company also managed to reduce net debt by 34.5% from $171.1 million to $112.5 million. Coupled with the rise in EBITDA, the results took Bio-PAPPEL's leverage (net debt/EBITDA ratio) from 1.9x to 0.8x in 12 months.

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