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Bulgarian cellulose producer Svilosa says 2013 net cons profit rises 16.6% to EUR 4.9mn

February 16, 2014

Bulgarian cellulose producer Svilosa said that its net consolidated profit rose 16.6% to BGN 9.6mn (EUR 4.9mn) in 2013. The company's net sales revenue grew 17.2% to BGN 110.7mn, with most of its proceeds coming from sales on foreign markets (85% of all). 

The producer expects that the global demand for cellulose will begin to increase, which should put upward pressure on the resource's price. On the other hand, the launch of new production capacities in Brazil and other Latin American countries will have the opposite effect on prices.

Turkey was the biggest consumer of Svilosa's cellulose, absorbing 21% of all the quantity sold in 2013. It was followed by Greece (18%) and Romania (9.5%). The company produced a total of 117,585 tonnes of cellulose last year, up 26% from 2012.

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Source: IntelliNews - Weekly Reports

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