MADRID, Spain, Nov. 19, 2015 (Press Release) -
Ence - Energía y Celulosa today unveiled its Strategic Plan for the period 2016-2020, which provides a significant improvement in its results. The company expects that, should the evolution of pulp price and the exchange rate $ / € at current levels ($ 810 / t and $ 1,05 / €), EBITDA reached 375 million euros in 2020, which is almost double the expected outcome for the end of 2015, estimated at 200 million.
During the presentation of Ence’s Strategic Plan at Investor Day, Ignacio de Colmenares, CEO of Ence Adviser, said that, in order to achieve this improved performance, the Company "will carry out an ambitious investment plan that will increase the capacity of pulp mills, reduce production costs and increase the generation of renewable energy from biomass." Colmenares said too: "The progress made thanks to the plan of transforming the past two years and the measures we are announcing today for the period 2016-2020 will consolidate Ence as one of the most competitive in its sector companies in the world".
Ence Investment Plan includes increasing plant capacity of Navia and Pontevedra, and reduce production costs of these two factories. These investments will also enable further progress in minimizing the environmental impact of Navia and Pontevedra factories by applying the latest technologies.
The biomass power generation will also be a prominent investment chapter of the Plan. In fact, Ence is considering opening new biomass plants in the world. Undoubtedly, the experience of Ence in this area will allow opportunities of biomass, which is expected to develop strongly in the next five years.
Ence is ready to become a protagonist in bioeconomy
Ignacio de Colmenares also referred to another scope of activity field that is increasingly important. "If Ence has made significant progress in generating energy from cellulose, is also prepared to successfully face the challenges of bio-refinery," the CEO said. He explained that the company is already studying the functioning of experimental plants that convert lignin biofuel and the development of products based nanocellulose.