Positive news in Mercer International report

Second quarter profits up over same period last year for owner of Castlegar pulp operation

  • Aug. 6, 2014 3:00 p.m.

Mercer International Inc., parent company of Zellstoff Celgar, Ltd., in a July 31 press release reported results for the second quarter ended June 30, 2014.

There was good news in the report’s figures, even if tempered somewhat by comparisons to past performance.

For example, according to information presented on the Mercer website, operating EBITDA (earnings before interest, taxes, depreciation and amortization) in the second quarter of 2014 increased to $41.9 million from $18.2 million in the second quarter of 2013, but declined from $59.0 million in the prior quarter of 2014.

The drop, though, was apparently nothing to be too alarmed about as the decrease was largely attributable to downtime for scheduled maintenance.

“For the second quarter of 2014, we had net income of $0.6 million, or $0.01 per basic and diluted share,” it is stated in the release, “compared to net loss of $13.0 million, or $0.23 per basic and diluted share, in the second quarter of 2013,”

The press release also included a reminder that the company’s reporting currency (since October, 2013) has been changed from the Euro to the U.S. dollar.

The company also made it known that, “As at June 30, 2014, we had approximately €28.4 million and C$38.3 million available under our Rosenthal and Celgar revolving credit facilities, respectively.”

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