ALTR.PO is a Portuguese company and a reference in European eucalyptus pulp producers. In addition to pulp production, the Group is also present in the renewable power production business from forest base sources namely the industrial cogeneration through black liquor and biomass.
At the end of May the company released its 1st quarter results, with a total revenues amounted to 154.1 million Euros, an increase of about 5% compared to the previous quarter and an increase of 20% over the first quarter of 2014.
The first quarter of 2015 was marked, on one side, by a sharp appreciation of the US dollar (USD) against the Euro (EUR), having the market price in EUR of bleached eucalyptus pulp (BEKP) raised about 13% during the first quarter of 2015 (comparing with the previous quarter) and, on other side, by a sales price increase in USD (about 2% comparing with the fourth quarter of 2014), reflecting the strong demand registered during the first quarter of 2015.
Since the beginning of the year Altri rose 48.09% and is in a phase change from bullish to a warning phase. Yesterday, the stock initially rose but found enough selling pressure at 3,876 to turn things back around and closed in the red near the low of the day, on above average volume, trading within a daily support zone. The RSI is showing bearish momentum and is below the 50 mid line.
ALTR.PO is a CFD written over ALTRI, SGPS S.A Stock.
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