Q4 2023 Ence Energia y Celulosa SA Earnings Call Transcript
Hello, and welcome to the Ence fourth quarter '23 results conference call. (Operator Instruction) Please note this call is being recorded. Today, I'm pleased to present Ignacio de Colmenares, please begin your meeting.
Good morning, ladies and gentlemen. Thank you for joining Ence fourth quarter 2023 results conference call. Our CFO, Alfredo Avello, and our Head of IR, Alberto Valdes, [are also], have connected to this goal. After the presentation, we will be pleased to answer any questions you may have.
I would like to start with the main highlights of the quarter on slide 6. You can see how average net pulp prices started to recover at the end of the third quarter following a sharp decline from the peak in the fourth quarter of 2022. This recovery is continuing into the first quarter of 2024, supported by low pulp inventories and growing demand. European pulp prices are already at [USD1,220] and the main pulp producers have announced a further price increase of up to [USD1
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