)
Edge31 Oct 2025
Rolls-Royce: Full Thrust Ahead
From century-old crafted perfection to pandemic shock and reset, Rolls-Royce's story is shaped by heritage, turbulence, and a disciplined climb back.
ENCE Energía y Celulosa (ENC) investor relations material
ENCE Energía y Celulosa Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Pulp division is shifting to higher margin special pulp, reducing reliance on expensive BSKP, with special products now 29% of sales and a target of 62% by 2028.
Renewable energy platform is expanding, focusing on regulated electricity, industrial heating, biomethane, and renewable fuels, with strong EBITDA and a robust project pipeline.
Efficiency and competitiveness plan launched, targeting €22/t annual cash cost savings by 2027 through process re-engineering and AI, with a €200m NPV.
Q3 revenue reached €181m, down 6% sequentially, mainly due to lower pulp prices despite higher sales volumes.
Free cash flow before growth CapEx was €12m in Q3, with €18m working capital inflow.
Financial highlights
Pulp sales reached 263,000 tons in Q3, up 8% quarter on quarter and 13% year-over-year, but average net selling price dropped by €90/t to €452.
Group revenues fell by €11m sequentially to €181m, with renewable energy growth partially offsetting a €15m pulp revenue decline.
Q3 EBITDA was €13m, with a net loss of €15m; 3Q25 EBITDA: €12.7m, down 75.4% year-over-year.
Free cash flow before growth CapEx was €12m in Q3, with working capital contributing €18m.
Sale of Energy Saving Certificates generated €40m in 9M25.
Outlook and guidance
By 2028, aims to increase pulp EBITDA by 50% through higher margin products, efficiency, and cost focus; special pulp products to reach 62% of sales.
By 2030, expects to more than triple renewable energy EBITDA, expanding into industrial heating and biomethane.
Cash cost guidance for H2 2025 is €466/t, with a temporary Q4 increase expected due to seasonal wood collection costs.
Fluff pulp line started in 4Q25, expected to reach 12% of sales by 2028, with an extra margin of €60/t.
FX hedging policy caps USD/EUR at 1.09 for nearly 50% of expected 2025 pulp sales.
Efficiency plan: savings from FTE vs reengineering?
How will special pulp stabilize net prices?
Biomethane & heating: key drivers for EBITDA growth?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next ENCE Energía y Celulosa earnings date
Q4 20252 Mar, 2026
Next ENCE Energía y Celulosa earnings date
Q4 20252 Mar, 2026
The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
ENCE Energía y Celulosa S.A. produces eucalyptus pulp and generates renewable energy from biomass. The company operates pulp mills and energy plants in Spain, serving customers in the paper and energy sectors. It is headquartered in Madrid, Spain, and its shares are listed on the BME.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage