Business
Acadian Timber Corp. Reports Fourth Quarter and Year End Results
EDMUNDSTON, New Brunswick, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Acadian Timber Corp. (“Acadia...
About this update from Acadian Timber Corp.
[{"type":"text","content":"Acadian Timber Corp. Reports Fourth Quarter and Year End Results\n\n\n\n\n\n Investors, analysts and other interested parties may access Acadian Timber Corp.’s 2024 Fourth Quarter Results conference call and webcast on Thursday, February 13, 2025 at 1:00PM ET. Please register\n \n here\n \n or follow the link on our website at\n \n www.acadiantimber.com/presentations-webcasts\n \n , to receive your unique PIN. For those unable to participate, a recorded rebroadcast will be available until 4:00PM ET February 13, 2026.\n \n\n\n\n\n\n\n\n EDMUNDSTON, New Brunswick, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Acadian Timber Corp. (“Acadian” or the “Company”) (TSX:ADN) today reported financial and operating results\n \n 1\n \n for the three months ended December 31, 2024 (the “fourth quarter”) as well as for the full 2024 fiscal year.\n \n\n “We achieved steady results from our timber operations in the face of weakened end use markets and our financial results received a significant boost from our first significant sale of voluntary carbon credits during 2024,” said Adam Sheparski, President and Chief Executive Officer. “We have started 2025 with the establishment of our own harvesting operation in Maine to address the persistent issue of contractor availability, and we look forward to a productive winter season.“\n \n\n Acadian generated sales of $116.2 million, compared to $93.5 million in the prior year. The sale of 752,100 voluntary carbon credits contributed $24.6 million to total sales in 2024. Acadian generated $29.7 million of Free Cash Flow during the year, compared to $15.0 million in 2023, and declared dividends of $20.3 million or $1.16 per share to our shareholders. Acadian’s balance sheet remains solid with $29.3 million of net liquidity as at December 31, 2024, which includes funds available under our credit facilities.\n \n\n\n Internal Harvesting Operations\n \n\n\n With the goal of expanding harvesting capacity in Maine and reducing operating costs, Acadian has established its own internal harvesting operation. In January 2025, subsequent to year end, Acadian purchased several pieces of harvesting equipment and hired equipment operators, who have begun harvesting on Acadian’s Maine timberlands.\n \n\n On February 10, 2025, Acadian signe...