Ence Energia y Celulosa SA

Ence Energia Y Celulosa is engaged in the manufacture and commercialization of wood pulp and derivatives. Co. divides its activities into the following two business lines: Forest Division: Co. manages timberlands in South America and the Iberian Peninsula. Co. is involved in trading of wood, and supplies solid wood products including: plywood, sawn timber, parquet flooring and glued-edge paneling. Co. is involved in forest and environmental consulting. Pulp Division and Energy Production: Co. is engaged in the production of Eucalyptus globulus-based TCF and ECF paper pulp. Co. is also involved in the generation of electricity through biomass power producing plants.
  • TickerENC
  • ISINES0130625512
  • ExchangeMadrid Stock Exchange
  • SectorForestry & Paper
  • CountrySpain

Analysts

1 director bought

A director at Ence Energia Y Celulosa SA bought 200,000 shares at 4.000EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The ...

Pedro Echeguren

Ence: Downgraded to Hold on lower pulp prices

Ence: Downgraded to Hold on lower pulp prices On a cyclical downturn Capacity to increase +4% in 1Q19 Expect moderate 1Q19 yoy growth, qoq declines Cutting our forecasts Downgraded to Hold (from Buy)

Iñigo Recio Pascual

ENCE - Scenarios regarding Pontevedra

Pedro Echeguren

Ence: The Pontevedra mill may be shutdown in 2033

Ence: The Pontevedra mill may be shutdown in 2033 Legal headwinds return Pontevedra generates 34% of the EBITDA Capex in Pontevedra is cancelled Two possible outcomes, two valuations Recommendation: Buy (unchanged)

Iñigo Recio Pascual

ENCE - Doubts on the Pontevedra plant

ENCE Energia y Celulosa, S.A. - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Joan Sehim

Ence is booming as pulp prices reach new heights

Ence is booming as pulp prices reach new heights. Ence, Europe’s No. 1 maker of eucalyptus pulp, reported stellar 4Q17 results, in keeping with those for the entire year. Sales and EBITDA soared 21% and 63% yoy to €213m and €68m respectively, representing a comfortable 32.1% margin, up from 23.9% last year. In the pulp business (82% of sales), up 22% yoy, the Spanish company fully benefited from the rocketing pulp price: to $980/t at year-end 2017 against $675/t one year earlier. ...

ENCE Energia y Celulosa, S.A. - September 2017 (LTM): Peer Snapshot

Peer Snapshot : ENCE Energia y Celulosa, S.A. - September 2017 (LTM)  13 December 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Sep-15 FYE Sep-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM

ENCE Energia y Celulosa, S.A.: Update to Discussion of Key Credit Factors

CORPORATES CREDIT OPINION 11 October 2017 Update RATINGS ENCE Energia y Celulosa, S.A. Domicile Spain Long Term Rating Ba3 Type LT Corporate Family Ratings Outlook Stable Please see the  ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Martin Fujerik 49-69-70730-909

ENCE Energia y Celulosa, S.A. - June 2017 (LTM): Peer Snapshot

Peer Snapshot: ENCE  Energia y Celulosa, S.A. - June 2017 (LTM) 10 October 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Sep-15 FYE Sep-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM

Pedro Echeguren

Ence: Downgraded to Hold on lower pulp prices

Ence: Downgraded to Hold on lower pulp prices On a cyclical downturn Capacity to increase +4% in 1Q19 Expect moderate 1Q19 yoy growth, qoq declines Cutting our forecasts Downgraded to Hold (from Buy)

Iñigo Recio Pascual

ENCE - Scenarios regarding Pontevedra

Pedro Echeguren

Ence: The Pontevedra mill may be shutdown in 2033

Ence: The Pontevedra mill may be shutdown in 2033 Legal headwinds return Pontevedra generates 34% of the EBITDA Capex in Pontevedra is cancelled Two possible outcomes, two valuations Recommendation: Buy (unchanged)

Iñigo Recio Pascual

ENCE - Doubts on the Pontevedra plant

Iñigo Recio Pascual

ENCE - 4Q18 results

1 director bought

A director at Ence Energia Y Celulosa SA bought 200,000 shares at 4.000EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The ...

With a more favourable environment, ENCE ENGA.Y CELULOSA SA improves to Slightly Positive

ENCE ENGA.Y CELULOSA SA (ES), a company active in the Paper industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date September 21, 2018, the closing price was EUR 8.57 and its potential was estimated at EUR 9.26.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

ENCE, March 28, 2019

We have concerns over the insufficient independent representation on the Board (36% according to the Company and our guidelines). Therefore, we recommend that shareholders oppose the reappointment of the non-executive non-independent Directors Mr. Fernando Abril-Martorell Hernández (item 5.B), who is the Chairman-CEO of Ence's business partner Indra, and Mr. José Guillermo Zubía Guinea (item 5.C), who has been on the Board for more than 12 years. In item 7, the Board proposes to approve a new long-term incentive plan for the 2019-2023 period. The incentive will be paid 30% in cash and 70% in ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Bottoms-up view on developed int'l, part two Big Picture: Our outlook remains neutral on the MSCI ACWI ex-U.S. index (when priced in local currency) while horizontal consolidation continues. On the other hand, we are negative on broad global ex-U.S. markets when priced in USD... see charts below. In today's report we take a bottoms-up approach to developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities at current levels. Specifically we present actionable stocks within the Communications, Health Care, Manufacturing, Materials, Technology, Transportation, and U...

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