What Altri does

Altri SGPS, S.A. (Euronext Lisbon: ALTR) is a Portuguese publicly-listed producer of cellulosic fibers founded in 2005 and headquartered in Porto. The company operates through wholly-owned subsidiaries Biotek, Caima, and Celbi, which run three mills producing over one million tons annually of hardwood (eucalyptus) pulp, dissolving pulp (DP), and specialty fibers, plus Altri Florestal for certified-forestry raw material supply and a joint venture (AFOCELCA) with The Navigator Company for forest fire protection. Its core technology centers on chemical and biomass energy recovery systems that enable renewable-energy self-sufficiency, with the Caima Go Green project targeting fossil-fuel-free operation. Altri is converting Biotek from paper-grade pulp to dissolving pulp by end-2026 to serve higher-value textile fiber applications, and is adding renewable acetic acid and furfural recovery at Caima from June 2026.

Revenue is generated through B2B industrial sales of cellulosic fibers (hardwood pulp, dissolving pulp, specialty fibers) and emerging sustainable textile fibers via the AeoniQ joint venture, with pricing negotiated directly with manufacturing customers and revenue directly tied to international pulp prices and USD exchange rates. The company sells primarily to tissue manufacturers (47% of fiber sales in 9M 2025), specialty paper producers, and emerging textile customers, with Europe accounting for 57% of fiber sales and MENA at 29%. Go-to-market is enterprise field sales with direct relationships to mill procurement teams, supplemented by an exclusive global distribution partnership with THE LYCRA COMPANY for AeoniQ textile yarn. The business is materially exposed to pulp price cycles and currency, as evidenced by Q1 2026 EBITDA compressing to €5.4M from weather disruption, pulp price pressure, and USD depreciation following a strong FY2024 (revenue €855.3M, EBITDA €218.3M, net profit €107.2M).

Name

Altri

Legal name

ALTRI SGPS, S.A.

Website

https://altri.pt

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Altri is a Portuguese publicly-listed producer of sustainable cellulosic fibers from eucalyptus, operating three mills with over one million tons of annual capacity, serving tissue, specialty paper, and emerging textile customers across Europe and MENA.

Ownership category

akta.pro rank

Headquarters

HQ city

Porto

HQ country

Portugal

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Cellulosic Fiber Sales: Production and sale of cellulosic fibers including hardwood pulp, dissolving pulp (DP), and specialty fibers. Primary revenue driver with production capacity exceeding 1 million tons annually across three mills (Biotek, Caima, Celbi). Revenue directly tied to international pulp prices and USD exchange rates.
2. Renewable Energy Sales: Biomass energy production from recovered process byproducts. Caima Go Green project aims to make Caima the first Iberian cellulosic fiber factory operating without fossil fuels, achieving energy self-sufficiency from renewable sources.
3. Sustainable Textile Fibers (AeoniQ): Joint venture with HeiQ for production of AeoniQ™ climate-positive textile yarn. Initial capacity of 1,750 tons/year at Caima. Diversification into higher-value cellulosic applications for textile industry.
4. Forestry Products: Forest management and wood supply through Altri Florestal subsidiary, supporting raw material supply chain for pulp production.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Altri is a Portuguese industrial producer of cellulosic fibers manufactured from eucalyptus pulp, operating three mills (Biotek, Caima, Celbi) with over 1 million tons of annual production capacity. The company supplies hardwood pulp, dissolving pulp, and specialty fibers to tissue, textile, and specialty paper manufacturers globally, and co-develops next-generation sustainable textile yarn (AeoniQ) through a joint venture with HeiQ.

Differentiator

Problem solved

Functional benefit

Brands

• AeoniQ: Climate-positive, biodegradable cellulosic filament yarn developed through joint venture with HeiQ for sustainable textiles
• Caima Go Green

Products and services

• Hardwood Pulp Industrial-grade cellulosic pulp manufactured from eucalyptus wood, supplied to tissue and paper manufacturers as the primary raw material for paper and tissue products. Produced at Biotek, Caima, and Celbi mills.
• Dissolving Pulp (DP) High-purity cellulosic pulp used as a feedstock for regenerated cellulosic fibers and textiles, supplied to textile and dissolving pulp converters globally.
• Specialty Fibers Differentiated cellulosic fiber grades tailored for specialty paper manufacturers and technical applications requiring specific performance characteristics.
• AeoniQ Sustainable Textile Yarn Next-generation sustainable textile yarn technology developed through a joint venture with HeiQ, designed to offer a low-carbon alternative to cotton and synthetic fibers for textile and apparel customers.

Quantifiable outcome

• CO₂ reduction of 3.2 kg per kg of yarn compared to polyester (AeoniQ™)
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered flagship, core, secondary and minor.

• HeiQ Materials AG (AeoniQ™)flagshipStrategic or Co-development Partner · 1 July 2025Joint venture branded 'AeoniQ' combining Altri's industrial expertise with HeiQ's technology. 'A' from Altri and 'iQ' from HeiQ, representing partnership for next eon of sustainable mankind. Joint venture will develop and scale production of AeoniQ™ climate-positive textile yarn. First industrial plant to be built at Caima mill with initial capacity of 1,750 tons/year.
• THE LYCRA COMPANYcoreChannel Partner/ Reseller/ Distributor · 1 July 2025Acquired exclusive distribution rights for AeoniQ™ textile yarn globally. Brings extensive textile distribution network and market access for sustainable fiber products.
• AeoniQ™ Development PartnerssecondaryStrategic or Co-development Partner · 1 July 2025Additional development partners include Riopele, Impetus, Lameirinho, Beste, Feinjersey, Taiana, Dolinschek, Aunde Group, Amman, and Strahle + Hess. These partners collaborate on product development, prototyping, and market testing for sustainable textile applications.
• Católica Lisbon School of Business and EconomicssecondaryStrategic or Co-development Partner · 1 December 2024Partnership for Advanced Leadership Program, an initiative to develop people, promoting personal and professional growth of teams. Program included 76 people from all Group companies with focus on new business models, new ways of working, and new leadership models.
• Smarttia (Greenalia Forest and Logistics)coreOthers · 1 October 2021Acquisition of Greenalia Forest and Greenalia Logistics from Smarttia, strengthening Altri's presence in Galicia and forest management operations in Spain.
• act4nature PortugalminorStrategic or Co-development Partner · 1 January 2021Altri joined act4nature alliance and endorsed ten common principles for preservation of biodiversity, aligning with commitment to environmental sustainability.
• AFOCELCA (with The Navigator Company)coreStrategic or Co-development PartnerAFOCELCA - Agrupação Complementar de Empresas para Proteção contra Incendios - is a private forest protection organization jointly owned by Altri Group and The Navigator Company. Specialized in first response and rural firefighting. Budget of 5.164 million euros for 2026, more than 500 operational professionals, approximately 90% of interventions outside directly owned areas.
• Lisbon Zoo (Jardim Zoológico)minorStrategic or Co-development PartnerAltri Florestal signed collaboration agreement with Lisbon Zoo focused on sustainability of koalas' diet, demonstrating commitment to biodiversity support.
• BCSD PortugalminorStrategic or Co-development PartnerAltri signed BCSD Portugal Manifesto for Nature at COP15 and Manifesto Towards COP26, committing to biodiversity and climate action initiatives.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Mondi: European-anchored integrated pulp and paper group with operations in packaging and uncoated fine paper. Overlap with Altri in European pulp supply dynamics and integrated mill operations; relevant comparable for operational efficiency and specialty paper exposure.
• Sappi: South Africa-headquartered global pulp and paper producer with significant dissolving pulp capacity and specialty/coated paper businesses. Direct comparable in dissolving pulp and specialty cellulose markets where Altri's Biotek conversion is positioned.
• Suzano: World's largest eucalyptus pulp producer based in Brazil, with growing tissue and specialty cellulose businesses. Competes with Altri in the global hardwood pulp market and is the global low-cost benchmark for dissolving pulp/market pulp; relevant for commodity pricing dynamics and DP competitive positioning.
• Stora Enso: Nordic integrated forest products company with pulp, packaging, biomaterials, and wood products divisions. Comparable in scope of integration from forestry to specialty cellulose, with significant biomaterials development relevant to Altri's DP and circular bioeconomy trajectory.
• UPM-Kymmene: Finnish forest products group producing pulp, paper, biomaterials, and biofuels. Direct competitor in European pulp/fiber markets and at the forefront of bioeconomy transition, including biofuels and biochemicals—comparable to Altri's diversification strategy.

Direct peers

• The Navigator Company: Portuguese integrated eucalyptus pulp and paper producer, listed on Euronext Lisbon. Most direct geographic and product-line peer to Altri, with comparable scale, Iberian production footprint, and tissue/printing/writing paper exposure. Both companies jointly own AFOCELCA forest fire protection entity.
• Lenzing: Austrian specialty cellulosic fiber manufacturer (Tencel/Lyocell, Lenzing Viscose, Modal). Direct competitor in the regenerated cellulosic fiber market where AeoniQ is positioned; both target sustainable textile substitution away from synthetic fibers with performance and sustainability credentials.
• Mercer International: North American/European pulp producer operating softwood and hardwood pulp mills plus biomass power generation. Comparable in integrated pulp-plus-renewable energy business model and direct exposure to pulp commodity pricing cycles.

Emerging players

• HeiQ Materials: Swiss cleantech spin-off that contributed the AeoniQ technology now jointly developed with Altri. Partnership rather than competitor—but its materials science fabric/textile technology platform is a relevant comparable for innovation in sustainable textile inputs.
• Eastman Chemical: Through its Naia Renew cellulosic yarn, Eastman competes in the same sustainable filament yarn space as AeoniQ. Established specialty chemicals and materials company with growing textile presence, representing a more mature competitor with larger capital base in the bio-based textile market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@altrigroup
• LinkedInlinkedin.com/company/altri-sgps
• Instagraminstagram.com/altrigroup

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Altri