Resolute Forest Products remained sales at the previous year’s level increasing its Adjusted EITDA by 10.9% in 1Q2017. According to the disclosed information, the company’s sales in the period totaled USD 872 million, generating USD 61 million of Adjusted EBITDA (7% margin).
Richard Garneau, President and CEO, commented:
“While we continued to face strong headwinds in our paper businesses this quarter, our three other segments (pulp, tissue and wood products) recorded stronger results than in the fourth quarter.
We saw key achievements in the quarter, particularly in our tissue segment. Our Calhoun tissue machine started-up one month ahead of schedule in structured mode, a first for this technology which allowed us to manufacture premium products right from the start. Those achievements were overshadowed by the imposition of countervailing duties on our softwood lumber exports from Canada to the United States. We firmly believe that central Canadian forestry regimes are market-based and we should expect nothing less than unencumbered and free access to the US lumber market.“
In 4Q2016 Resolute Forest Products decreased EBITDA margin to 7.5%.
Earlier Resolute Forest Products closed aquisition of a sawmill in Canada from Tembec
About Resolute Forest Products:
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including newsprint, specialty papers, market pulp and wood products. The Company owns or operates nearly 40 pulp and paper mills and wood products facilities in the United States, Canada and South Korea, and power generation assets in Canada.