Altri Group achieved total revenues of € ۱۷۴.۴ M in the 3Q23, a decrease of 38.6% vs 3Q22. Theslowdown in the growth of global pulp demand during 2023, which resulted from a relevantdestocking process in the Pulp and Paper industry and the lower dynamism of economic activity, led the Altri Group to register a lower sales level and prices than the same period last year. Compared to the 2Q23, total revenues decreased 13.6%, as a result of a relevant decrease in the pulp prices, despite the increase in the volume sold. In the 9M23, the Group recorded total revenues of €۶۰۱.۰ M, -25.4% compared to the same period last year.
Faced with one of the most sudden cycle changes in more than a decade, and as a result of the downward price correction that has taken place, the Altri Group recorded an EBITDA of € ۱۶.۳ M in 3Q23, a decrease of 82.4% compared to the same period of last year. In the 3Q23, the Altri Group recorded an EBITDA margin of 9.3%, which compares with the 32.6% reported in the 3Q22. The decrease in costs continued during 3Q23, but not enough to offset the fall in prices since the start of the year. Looking at the 9M23, the Altri Group achieved an EBITDA of € ۹۷.۵ M, a reduction of 56.3% vs the 9M22, which implies an EBITDA margin of 16.2%. The Altri Group will continue to actively work on cost reduction in the coming quarters.