Acadian Timber reported 20.5% decline of Adjusted EBITDA amid 7.5% decrease of net sales in 2Q2017 y-o-y. According to the announcement, the company’s revenues accounted for CAD 12.6 million, generating Adjusted EBITDA of CAD 2.6 million (20.6% margin) in the period.
In January-June 2017 the company’s net sales accounted for CAD 35.7 million, generating CAD 10.7 million Adjusted EBITDA.
Mark Bishop, CEO of Acadian, commented:
“Acadian’s second quarter benefited from favourable winter conditions which supported strong seasonal log production. Acadian continues to experience strong regional demand for hardwood logs and the outlook for softwood sawtimber continues to be supported by steady growth in U.S. housing starts and residential home improvement.”
In 1Q2017 Acadian Timber increased adjusted EBITDA margin to 35%.
Earlier Acadian Timber appointed a new CFO.
About Acadian Timber:
The company is a leading supplier of primary forest products in Eastern Canada and the Northeastern U.S. With a total of approximately 2.4 million acres of land under management, Acadian is the second largest timberland operator in New Brunswick and Maine. It owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine, and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands. Acadian also owns and operates a forest nursery in Second Falls, New Brunswick. The company’s products include softwood and hardwood sawlogs, pulpwood and biomass by-products, sold to approximately 90 regional customers.