Ence Reports Challenging Q3 2025 with Lower Cellulose Prices and EBITDA Amid Demand Growth

Ence reported its Q3 2025 financial results highlighting a 25% drop in cellulose sales revenue driven by lower prices despite a 13% increase in volume sold. The average net selling price of cellulose fell by over 33% from the same quarter last year, impacting EBITDA, which decreased by 90% quarter-on-quarter to €4 million. The company’s cellulose production was down 3.5% year-on-year, mainly due to scheduled maintenance, while the share of higher-margin Ence Advanced products increased to 29%. Ence also achieved energy efficiency gains through its cogeneration plants and renewable biomass energy sales. Despite the tough pricing environment, the company focuses on growing high-value specialty cellulose products, targeting over 62% of sales by 2028. Operating cash flow remained positive with ongoing investments in decarbonization and efficiency.​