Cascades Reports Results for the Fourth Quarter and Full Year 2023
Q4 2023 Highlights *Sales of $1,138 million (compared with $1,198 million in Q3 2023 and $1,135 million in Q4 2022); *Operating loss of $(24) million (compared with operating income of $80 million in Q3 2023 and operating loss of $(20) million in Q4 2022); 2023 Annual Highlights *Sales of $4,638 million (compared with $4,466 million in 2022); *Operating income of $40 million (compared with $33 million in 2022); *Net debt1 of $1,882 million as of December 31, 2023 (compared with $1,966 million as of December 31, 2022). Net debt to EBITDA (A) ratio1 of 3.4x, down from 5.2x as of December 31, 2022; *Total capital expenditures, net of disposals, of $46 million in Q4 2023 and $343 million in 2023. The Corporation's 2024 forecasted net capital expenditures of approximately $175 million is unchanged.