Spanish pulp and renewable energy producer Ence reported a net loss of €22 million in the first nine months of 2025, impacted by a weaker U.S. dollar and falling pulp prices, which fell to $1,000 per ton in August.
Despite this downturn, the company achieved a 30 percent increase in sales volumes of higher-margin specialty pulps compared with the same period in 2024. These products are expected to exceed 60 percent of total sales by 2028, reinforcing Ence’s strategic shift toward value-added grades.
Average pulp production costs decreased by €29 per ton in the third quarter. Ence also launched its 2025–2027 Efficiency and Competitiveness Plan, which targets annual cash savings of €22 per ton through AI-driven process optimization and operational rationalization.renewable projects, Ence is driving sustainable innovation across the pulp and energy sectors.
The company’s renewable energy segment generated €18 million EBITDA through September, showing improvement in Q3 compared to earlier quarters. Free cash flow for the quarter was €12 million, underscoring Ence’s focus on cost control amid continued market pressure.
The easing of U.S. import tariffs on pulp and upcoming production curtailments in Latin America support a cautiously optimistic outlook as pulp prices show early signs of recovery heading into 2026.
Ence Energía y Celulosa, headquartered in Spain, specializes in sustainable pulp production and biomass-based renewable energy. With strong growth in specialty pulps and expanding renewable projects, Ence is driving sustainable innovation across the pulp and energy sectors.
