Rayonier Advanced Materials reported stable net sales and 27.6% decrease of pro-forma EBITDA in 2Q2017 y-o-y. According to the announcement, the company’s revenues accounted for USD 201 million, generating pro-forma EBITDA of USD 42 million (20.9% margin vs 27.1% in the same quarter of 2016) in the period.
In January-June, the company’s net sales accounted for USD 403 million, pro-forma EBITDA totalled USD 90 million (22.3% margin)
Paul Boynton, Chairman, President and Chief Executive Officer, commented:
“We continue to execute well against our 2017 objectives and are on track to achieve the high-end of our full year EBITDA guidance. We remain focused on our four strategic pillars and are investing to drive meaningful future growth. In particular, we continue to achieve significant results from our cost transformation, with year to date savings of USD15 million and cumulative savings to date of USD100 million.”
In 1Q2017 Rayonier Advanced Materials reported 7.8% decrease of net sales and 11.1% decrease of pro-forma EBITDA.
Earlier Rayonier Advanced Materials and Tembec announce termination of the Hart-Scott-Rodino Waiting Period.
About Rayonier Advanced Materials:
The company is the leading global supplier of high-purity, cellulose specialties natural polymers for the chemical industry. It engineers natural polymeric chemical chains to create dozens of customized high-purity performance fibers at its plants in Florida and Georgia. The company’s facilities can produce up to 675,000 metric tons of cellulose specialties products annually for use in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. Upon completion of the previously announced strategic realignment of assets in Jesup, the company’s facilities will have the capacity to produce approximately 485,000 tons of cellulose specialties and approximately 245,000 tons of commodity products.