Last $10.25 USD
Change Today -0.04 / -0.39%
Volume 82.5K
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As of 2:31 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

mercer international inc (MERC) Key Developments

Mercer International Inc. Reports Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2014

Mercer International Inc. reported unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $285.192 million against $274.700 million a year ago, due to higher pulp prices and higher energy sales volumes. Operating income was $22.021 million against operating loss of $1.169 million a year ago. Income before income taxes was $7.323 million against loss before income taxes of $11.410 million a year ago. Net income attributable to common shareholders was $0.571 million or $0.01 per basic and diluted share against net loss attributable to common shareholders of $13.015 million or $0.23 per basic and diluted share a year ago. Net cash from operating activities was $21.289 million against $23.967 million a year ago. Purchase of property, plant and equipment was $6.151 million against $14.349 million a year ago. Purchase of intangible assets was $0.715 million. Operating EBITDA was $41.872 million against $18.185 million a year ago. For the second quarter of 2014, the company’s operating EBITDA increased by approximately 130% from the comparative quarter of 2013. Operating EBITDA decreased by approximately 29% from $59.0 million in the first quarter of 2014 primarily as a result of 12 days of scheduled maintenance downtime at the company’s Celgar and Stendal mills which the company estimate adversely impacted Operating EBITDA by approximately $18.4 million, comprised of approximately $13.0 million in direct out-of-pocket expenses and the balance for reduced production. Operating income increased primarily due to higher pulp sales realizations and lower fiber costs, partially offset by a weaker U.S. dollar relative to the Euro. For the six months, the company reported total revenues of $590.877 million against $536.485 million a year ago, due to higher pulp and energy revenues. Operating income was $61.264 million against $11.438 million a year ago. Income before income taxes was $32.350 million against loss before income taxes of $9.891 million a year ago. Net income attributable to common shareholders was $21.612 million or $0.36 per basic and diluted share against net loss attributable to common shareholders of $13.576 million or $0.24 per basic and diluted share a year ago. Net cash from operating activities was $80.968 million against $52.950 million a year ago. Purchase of property, plant and equipment was $12.717 million against $29.394 million a year ago. Purchase of intangible assets was $2.455 million. Operating EBITDA was $100.902 million against $50.325 million a year ago. In the first half of 2014, operating income increased primarily due to higher sales realizations and sales volumes and lower fiber costs. For the quarter, the company’s pulp production increased by approximately 1% to 353,803 ADMTs in the current quarter from 349,502 ADMTs in the same quarter of 2013. The company had an aggregate of 12 days (approximately 17,700 ADMTs) of scheduled maintenance downtime at its Stendal and Celgar mills in the second quarter of 2014. Pulp sales volumes decreased by approximately 3% to 356,755 ADMTs in the current quarter from 368,285 ADMTs in the comparative quarter, primarily due to weaker demand from China and lower production at its Celgar mill. Average pulp sales realizations increased by approximately 6% to $720 per ADMT in the second quarter of 2014, compared to $679 per ADMT in the same period last year primarily due to higher pulp prices. For the six months, the company’s pulp production increased by approximately 4% to 735,588 ADMTs in the first half of 2014 from 710,666 ADMTs in the same period of 2013. The company had an aggregate of 12 days (approximately 17,700 ADMTs) of scheduled maintenance downtime at its Stendal and Celgar mills in the first half of 2014. Pulp sales volumes increased by approximately 2% to 738,110 ADMTs in the first half of 2014 from 724,945 ADMTs in the comparative period of 2013, primarily due to higher sales in North America. Average pulp sales realizations increased by approximately 8% to $722 per ADMT in the first half of 2014, compared to $669 per ADMT in the comparative period of 2013, primarily due to higher pulp prices.

Mercer International Inc. Presents at Jefferies 2014 Global Industrials Conference, Aug-14-2014 10:00 AM

Mercer International Inc. Presents at Jefferies 2014 Global Industrials Conference, Aug-14-2014 10:00 AM. Venue: Grand Hyatt, 109 E. 42nd St., New York, New York, United States. Speakers: David M. Gandossi, Chief Financial Officer, Principal Accounting Officer, Executive Vice President of Finance and Secretary.

Mercer and Resolute, Join Forces to Commercialize Sustainable New Biomaterial

Mercer International Inc. and Resolute Forest Products Inc. announced a new joint venture company - Performance BioFilaments Inc. - focused on the development of commercial applications for cellulose filaments, one of the most exciting new biomaterials. Cellulose filaments have unique performance-enhancing properties with significant potential to improve a wide array of consumer and industrial products.

Mercer International Inc. Announces Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2014

Mercer International Inc. announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of $305,685,000 against $261,785,000 a year ago. Operating income was $39,243,000 against $12,607,000 a year ago. Income before income tax was $25,027,000 against $1,519,000 a year ago. Net loss attributable to common shareholders was $21,041,000 or $0.37 per diluted share against net loss of $561,000 or $0.01 per basic and diluted share a year ago. Net cash from operating activities was $59,679,000 against $28,983,000 a year ago. Purchase of property, plant and equipment was $6,566,000 against $15,045,000 a year ago. Purchase of intangible assets was $1,740,000. Operating EBITDA was $59,030,000 against $32,140,000 a year ago. Total revenues for the three months ended March 31, 2014 increased by approximately 17% due to higher pulp and energy sales volumes and higher pulp prices. For the quarter, pulp production increased by approximately 6% to 381,785 ADMTs in the current quarter from 361,164 ADMTs in the same quarter of 2013. Energy production was 466,300 MWh against 424,400 MWh a year ago.

Mercer International Inc., Annual General Meeting, May 30, 2014

Mercer International Inc., Annual General Meeting, May 30, 2014., at 08:30 Pacific Standard Time. Location: Terminal City Club, 837 West Hastings Street. Agenda: To elect eight directors nominated by the board of directors to serve until the 2015 annual meeting of shareholders; to ratify the selection of PricewaterhouseCoopers LLP as the independent auditors; to conduct a non-binding advisory vote on executive compensation; to approve the amendment to the Mercer International Inc. 2010 Stock Incentive Plan to increase the number of shares of common stock available for issuance under such plan; and to transact such other business as may properly come before the meeting or any adjournment, postponement or rescheduling thereof.

 

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Price/Earnings 67.2x
Price/Sales 0.6x
Price/Book 1.5x
Price/Cash Flow 7.5x
TEV/Sales NM Not Meaningful
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