ENCE Energía y Celulosa, S.A. (EEYCF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. Welcome to the NSAID Q3 2025 results presentation. I will now hand over to Mr. Ignacio Colmenares, Executive Chairman and CEO at Alfredo Avelio CFO. Gentlemen, please go ahead. Good afternoon, everyone, and thank you for joining NSAID's third quarter 2025 results presentation. Let me please start this presentation pointing out that, firstly, ENCEP Palp's division is firmly evolving towards a higher margin special pulp-centered business, substituting more expensive BSKP alternatives based on local wood sourcing and proximity service. And secondly, our local biomass backbone, renewable energy platform, continues its development, transforming the biomass nearby collected into a diversified range of energies, including regulated renewable electricity, industrial renewable heating, biomethane, and renewable fuels, with solid recurrent EVDA and tangible pipelines under execution. Today, I'm joined by our CFO, Alfredo Bello, and our IR Director, Inés Álvarez. I will begin with a brief overview of the quarter and our strategic process. Alfredo will then take you through the financials and I will return with the closing remarks. On page 4, you can find the main highlights of the quarter. BHKP prices hit lows in third quarter. Price increase announcements were made by the main producers for a total gross of $130 per ton in Europe, of which 60 are already recognized in the peaks. In third quarter, we continued our disciplined in cash cost reduction with an improvement of 29 euro per ton, quarter on quarter. Cash cost savings were mainly driven by operational efficiencies and the positive contribution from the energy revenues after the successful ramp-up of Navia's turbine in June. Reinforcing our commitment towards efficiency and competitiv...