Ence Is Driving The Growth Of Specialty Pulps And Expects Them To Reach Nearly 40% Of Pulp Sales By 2026.

Madrid, March 12, 2026 — Ence is making significant progress in its transformation into a manufacturer of specialty pulps that compete with higher-cost long-fiber pulp (BSKP). By the end of 2025, specialty pulps that replace BSKP accounted for 30% of sales in the Pulp business, seven percentage points higher than in 2024. These products also generated an additional margin of approximately €37/t compared to standard pulp, reflecting the higher added value of this segment.

In terms of pulp sales, specialty pulps reached approximately 290,000 tons in 2025, compared to approximately 220,000 tons in 2024, meaning approximately 70,000 more tons of specialty pulps were sold in 2025.

The company plans to continue increasing the share of these solutions in its product mix. Looking ahead to 2026, the goal is for specialty pulps to account for nearly 40% of sales in the Pulp business unit, consolidating Ence's presence in higher-margin, higher-growth segments.

Strategic advance in the fluff market

A significant milestone within this strategy has been the commissioning, in the fourth quarter of 2025, of the first fluff pulp production line at the Navia biofactory, with a capacity of 125,000 tons per year.

With this investment, Ence becomes the only producer in Europe of fluff pulp from eucalyptus fiber, allowing it to compete in the European market with higher-cost long-fiber producers.

This new product, currently undergoing customer approval, is primarily aimed at the European market for absorbent hygiene products, such as diapers and personal hygiene items, which are experiencing a surge in demand due to population aging. Its development will allow for import substitution and offer a more cost-competitive alternative to the long fibers traditionally used in these applications.

Goal: to exceed 62% by 2028

Increasing the share of specialty pulps is one of Ence's strategic priorities. In this context, the company maintains a clear roadmap to continue increasing the share of these grades in the coming years. The strategic objective is for specialty pulps to exceed 62% of pulp sales by 2028, which will contribute to consolidating a business profile with higher added value and structurally higher margins.