Mercer International Inc. reports third quarter and nine months 2021 results

Mercer International Inc. (Nasdaq: MERC) today reported third quarter 2021 Operating EBITDA increased to a record $148.1 million from $45.6 million in the third quarter of 2020 and from $83.8 million in the second quarter of 2021.

In the third quarter of 2021, net income was $69.1 million (or $1.05 per basic share and $1.04 per diluted share) compared to $7.5 million (or $0.11 per share) in the third quarter of 2020 and $21.4 million (or $0.32 per share) in the second quarter of 2021.

In the first nine months of 2021, Operating EBITDA increased to $313.9 million from $143.1 million in the same period of 2020. In the first nine months of 2021, net income was $96.5 million (or $1.46 per share) compared to a net loss of $4.3 million (or $0.06 per share) in the same period of 2020.

Mr. David Gandossi, the Chief Executive Officer, stated: “In October, we started up our recently acquired cross laminated timber (“CLT”) manufacturing facility in Spokane, Washington and will be ramping up its production over the coming months. Our CLT facility has an annual production capacity of approximately 140,000 cubic meters of CLT, which represents about 30% of the current CLT manufacturing capacity in North America. We are excited about the potential of this business particularly as the benefits of this product, including environmental benefits, become more well known in the North American market. This business fits well with our core competencies, expands our product mix and moves us further up the value chain.
details at: https://secureservercdn.net/198.71.233.72/4p3.786.myftpupload.com/wp-content/uploads/2021-Q3-Press-Release-Final.pdf

Related Posts

The groundwood line in Rottneros Mill to be closed down, CTMP production planned to increase significantly.

Following an extensive and long-term strategic analysis, Rottneros' Board of Directors has decided to discontinue the production of groundwood pulp in Rottneros Mill as there are no prospects for long-term sustainable profitability. The decision means that about 40 people will be made redundant. The cost of the closure is expected to amount to approximately 60 MSEK. Production is expected to cease at the end of 2022, following the conclusion of trade union negotiations which are now beginning. The Group plans to invest 160 - 200 MSEK to significantly increase capacity and production in the mill's CTMP line. In 2021, the Group's production of groundwood pulp amounted to 64 000 tons, corresponding to 16 percent of Rottneros' total production of 395 300 tons. During the same year, the groundwood line's share of the Group's net sales amounted to just over 10 percent, while the contribution, including electricity hedges, to the Group's net profit was marginal. The costs for the closure, approximately 60 MSEK, consist mainly of redundancy costs and will be charged in the Group's earnings for the third quarter. Only a minor part is write-downs of fixed assets.

American Forest & Paper Association Releases January 2021 Printing-Writing Monthly Report

According to the report, total printing-writing paper shipments decreased 25 percent in January compared to January 2020. U.S. purchases of total printing-writing papers decreased 22 percent in January compared to the same month last year. Total printing-writing paper inventory levels increased three percent when compared to December 2020. Uncoated free sheet (UFS) paper shipments decreased 20 percent compared to January 2020 while the inventory level increased three percent compared to December 2020. UFS imports increased 41 percent while exports decreased 40 percent in December 2020.U.S. purchases of coated free sheet (CFS) papers in January decreased 32 percent compared to last January while the inventory level increased two percent compared to December 2020. CFS imports and exports both decreased compared to December 2019, down 21 percent and six percent respectively. Coated mechanical (CM) paper shipments decreased 33 percent compared to January 2020 while the inventory level remained essentially flat (+0.1 percent) compared to December 2020. CM imports decreased 34 percent while exports increased 12 percent in December 2020. U.S. purchases of uncoated mechanical (UM) papers in January decreased 24 percent compared to last January while the inventory level increased 14 percent compared to December 2020. UM imports and exports both decreased compared to December 2019, down 19 percent and eight percent respectively.

Verso Corporation Expands Strategic Alternatives Considerations

Verso Corporation announced that the Strategic Alternatives Committee formed by its Board of Directors in September 2017, has, at the direction of the Board, expanded its evaluation of potential transaction alternatives to include other alternatives, including but not limited to, a potential sale or merger of the entire company. As previously announced, the Committee, with the assistance of Houlihan Lokey Capital, Inc., the company's financial advisor, has been charged with identifying and evaluating a range of potential strategic transaction alternatives to maximize value to Verso stockholders, and with recommending to the Board whether any potential transaction is in the best interests of the company and its stockholders. Click Read More below for additional information.
Back To Top
×Close search
Search