Despite a tough business environment Bio Pappel recorded solid results showing a 51% growth in EBITDA. Bio Pappel has grown organically in recent years and increased its installed capacity with the latest technology, and in this year we conclude successfully the Scribe acquisition, whose results are included since June 5, 2015.
During the 3Q 2015 an increase of 28% in shipments was obtained, going from 306 to 390 thousand metric tons, net sales increased 60% from $3 million pesos to $4.9 million pesos. As a result of the above, the company recorded an EBITDA of $723 million pesos representing a 51% growth when compared with $478 million pesos in the 3Q 2014. EBITDA margin for the quarter reached 14.8%.
In the accumulated results of 2015, shipments increased 15%, from 926 thousand to 1.063 million metric tons, net sales increased 32% from $9,312 to $12,285 million pesos, as a result we reached $1,868 million pesos on EBITDA, showing a 25% growth when compared against $1,499 million pesos accumulated in the same period of 2014. EBITDA margin from January to September 2015 was 15.2%.
CAPEX from January to September 2015 recorded $327 million pesos, from which $68 million pesos were funded, in a long-term basis, by our suppliers.
Bio Pappel is the integrated producer of containerboard, white paper, newsprint, corrugated boxes, bond paper for copying and printing, notebooks, paper sacks and other specialties. Bio Pappel operates 30 production facilities and 13 recycled fibers collection centers in Mexico, Southern U.S. and Colombia.
