ENCE Energía y Celulosa, S.A. (EEYCF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to the ANCES First Q2026 Results Presentation. I will now hand over to Mr. Ignacio Colmenares, Executive Chairman, and Alfredo Avello, CFO. Gentlemen, please go ahead. Good morning, good afternoon, and welcome to ANCES First Quarter 2026 Results Presentation. Thank you for joining us. I'm Ignacio Colmenares, Executive Chairman, and today I'm joined by our CFO, Alfredo Bello, and our Head of IR, Inés Álvarez. Let me start with the strategic picture and our overall objectives. Our plan remains simple to describe and rests on four pillars. Growth in higher margin special pipe substituting BSKP, local food and biomass sourcing, cash cost efficiency, and EBDA growth in our deliverable platform, leveraging our position as the largest collector of biomass in the Algerian Peninsula. Slide four summarizes the first quarter of 2026. It shows the progress we continue to make in all pillars of the strategy despite a less than brilliant quarter impacted by several one-off events. Importantly, these events do not change our full-year park guidance. We consider that both the market and the company's costs are at an important inflection point that will be visible in future quotas. The bulk price environment has continued the positive trajectory we saw at the end of 2025. European gross BHKT prices stood at 1,286 per tonne at the end of first quarter 26, compared with 1,100 per tonne at year end 2025. Major producers have announced further price increases up to $1430 per ton to be implemented in the short term. Since prices in our contracts are linked to the two previous months, we started to benefit from the price increase in the second quarter. At the same time, we continue to work on the fundamentals of the business, improving our produc...