Q2 2023 Ence Energia y Celulosa SA Earnings Call Transcript
Good afternoon, ladies and gentlemen. Welcome to the ENCE Second Quarter 2023 Resource Presentation. I will now hand over to Mr. Ignacio Colmenares, Executive Chairman; and Alfredo Avello, CFO. Gentlemen, Please go ahead.
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Good afternoon, ladies and gentlemen. Thank you for joining ENCE's First Half 2023 Results Conference Call. Our CFO, Alfredo Avello, and our Head of IR, Alberto Valdes, are also connected to this call. After the presentation, we will be pleased to answer any questions you may have.
I would like to start on Slide 6 with the key financial highlights of the first half. Firstly, the EUR 100 tonne reduction in the cash cost achieved in the second quarter. This has allowed us to partially mitigate the 34% fall in the net fund price during the same quarter. Secondly, the regulated energy price update in June would imply a cash generation increase of approximately EUR 26 million this year. Its adverse accounting noncash effect is
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