Altri (ALTR) Investor presentation summary

Strategic positioning and market overview

• Holds a €1.0 billion market cap, listed on Euronext Lisbon since 2005, with 75% reference shareholders and 24.4% free float.

• Recognized as Europe's most efficient hardwood pulp producer and a global leader in sustainability.

• Focuses on diversifying into sustainable textile fibers and bioproducts, with strong cost leadership and wood sourcing strategies.

• Operates three fiber mills with a combined capacity of 1.145 million tons/year and manages over 100,000 hectares of certified forest.

• Main markets include Europe (62% of sales), Middle East & North Africa (25%), and Asia (13%).

Market trends and financial performance

• Global demand for bleached hardwood kraft pulp (BHKP) is projected to grow by 0.7M tons/year until 2028, driven by tissue, packaging, and specialty segments.

• Average BHKP prices since 2021 are $1,140/ton, with mid-term forecasts above $1,300/ton.

• Dissolving pulp (DP) commands a 45-47% premium over BHKP, with strong demand in textiles.

• 2024 revenues reached €855M (+9% YoY), EBITDA €218M (+59% YoY), and EBITDA margin 25.5%.

• 1H25 saw a revenue decline (-19%) and EBITDA drop (-54%) due to lower Asian demand and tariffs.

Sustainability and ESG leadership

• Targets a 51% reduction in GHG emissions and 50% reduction in water use by 2030; aims for zero fossil fuel use and doubling conservation areas.

• All forest assets are certified, with a goal to source 80% of wood from certified suppliers by 2030.

• ESG ratings are among the best in the industry: Sustainalytics (2nd in sub-industry), MSCI (BBB), CDP (A-), and Ecovadis (Platinum, top 1% worldwide).

• Transparent reporting includes carbon and water footprints on invoices.

• Progress tracked on water, emissions, waste recovery, gender diversity, and biodiversity initiatives.