Altri Reinforces Resilience and Anticipates Recovery Following Quarter Impacted by Severe Weather Conditions

Altri recorded total revenues of €160.2 million in the first quarter of 2026, during a period heavily affected by the storms that struck Portugal and had a direct impact on the Group’s industrial and logistics operations. EBITDA reached €5.4 million, while net profit attributable to shareholders stood at -€7.3 million, reflecting a particularly challenging operating environment, also marked by pressure on international pulp prices and the depreciation of the US dollar.

Despite this adverse backdrop, Altri maintained high service levels for its customers, once again demonstrating the resilience of its operations and the adaptability of its teams. By the end of March and beginning of April, operational normality had been largely restored, enabling the Group to enter the second quarter with a more stable environment and expectations of a significant recovery in profitability.

“We faced an especially challenging quarter, marked by extreme weather conditions and major logistical disruptions. Nevertheless, we once again demonstrated the robustness of our operations, the responsiveness of our teams and our ongoing commitment to customers and partners,” said José Soares de Pina, CEO of Altri. “We entered the second quarter with greater operational stability and encouraging signs in international markets, which allows us to look ahead with cautious confidence.”

Throughout the quarter, the Group maintained strong financial and operational discipline, seeking to mitigate external impacts through rigorous cost management, industrial efficiency gains and logistical adaptation. Strategic investments also continued to progress, reinforcing Altri’s commitment to higher value-added segments aligned with global sustainability and decarbonisation trends.

Among the key projects currently underway are the full conversion of paper-grade pulp production into dissolving pulp (DP) at Biotek, expected to be completed by the end of 2026, and the renewable acetic acid and furfural recovery and valorisation project at Caima, where production is expected to begin in June. The company is also continuing the installation of AeoniQ™’s pre-industrial unit, which will accelerate production and qualification processes for sustainable textile fibres.

In the first quarter of 2026, Altri made a total net investment of €14.9 million, of which 81% was classified as ESG-related, further reinforcing the Group’s commitment to sustainability. During the period, the company also announced its commitment to achieving carbon neutrality by 2050, aligning itself with the Science-Based Targets initiative (SBTi).

Despite the persistence of some macroeconomic and geopolitical uncertainty, Altri expects a more favourable performance throughout the remainder of the year, supported by the gradual recovery of markets, improving pulp prices and the normalisation of operational and logistics costs.