Ence reported a net profit of €0.5 million in the second quarter of 2026, supported by the recovery in pulp prices from previous lows and lower operating costs following the implementation of its Efficiency and Competitiveness Plan for the Pulp business.
The company posted consolidated EBITDA of €27 million during the quarter, a 16% increase compared with the same period in 2025. The prior-year result included €10 million from Energy Saving Certificates (CAEs).
SPECIALTY PULP GAINS MOMENTUM
Within its Pulp business, Ence continued to expand its specialty pulp portfolio designed to replace long-fibre pulp. The company’s new fluff pulp production line for hygiene and incontinence products is currently undergoing customer qualification.
Specialty pulps, which generate an average additional margin of €36 per tonne compared with standard pulp, represented 34% of total sales in 2026, up from 30% in 2025. Ence aims to increase this share to more than 62% by 2028, reinforcing its position as a leading producer of long-fibre pulp substitutes.
PRODUCTION COSTS DECLINE
As part of its cost reduction strategy, Ence lowered its pulp business cash cost to €455 per tonne in the second quarter, a decrease of €67 per tonne compared with the previous quarter. The company attributed the improvement to the ongoing implementation of its Efficiency and Competitiveness Plan.
RENEWABLE ENERGY BUSINESS EXPANDS
The renewable industrial heat business also continued to grow during the quarter with the commissioning of a new project comprising two boilers. Ence expects to finish 2026 with five projects in operation, compared with one at the end of 2025.
Additionally, Moeve selected Magnon Servicios Energéticos, Ence’s subsidiary, as its partner to develop a thermal energy plant at the Huelva refinery. The companies are in the final stage of contract negotiations. The project, designated a Strategic Project by the Regional Government of Andalusia, is expected to generate more than 350 GWhth of thermal energy.
BIOMETHANE PORTFOLIO SURPASSES 2030 TARGET
Ence also expanded its biomethane portfolio to 41 projects with a potential production capacity of up to 4 TWh, exceeding its 2030 target of 1 TWh.
Of these, 28 projects are currently in the engineering and permitting phase. The company expects to receive its first Integrated Environmental Authorisation (IEA) during the second half of 2026.
