Business
Mercer International Inc. Reports 2005 Third Quarter Results
Mercer International Inc. Reports 2005 Third Quarter Results.
About this update from Mercado Minerals Ltd.
[{"type":"text","content":"\n\n\n\n\nNEW YORK, NY, Nov. 7 /CNW/ -- Mercer International Inc.\n(Nasdaq: MERCS, TSX: MRI.U) today reported results for the third quarter of\n2005.\n\nSummary Selected Highlights\n\n Three Months Ended September 30,\n 2005 2004\n (in thousands)\nResults of Operations (unaudited)\nRevenues euro 148,928 euro 47,360\nIncome (loss) from operations 7,892 (4,751)\nOperating EBITDA(1) 21,871 5,254\nInterest expense (21,911) (4,200)\nRealized and unrealized gain (loss) on\n derivative financial instruments, net(2) 3,051 (8,105)\nUnrealized foreign exchange gain on debt 5,918 -\nNet loss (5,555) (9,879)\nLoss per share, basic and diluted (0.17) (0.57)\n\nOther Data\nTotal pulp sales volume(3) (ADMTs) 332,282 73,128\nMill net pulp price realizations\n (per ADMT) euro 398 euro 472\n\n\n(1) For a definition of Operating EBITDA, see page 6 of this press release\n and for a reconciliation of net loss to Operating EBITDA, see page 11\n of the financial tables included in this press release.\n\n(2) Unrealized non-cash marked to market valuation gain (loss), except for\n a realized loss of euro 0.3 million in the three months ended\n September 30, 2005.\n\n(3) Excluding intercompany sales volumes of 3,057 ADMTs and 1,348 ADMTs of\n pulp in the three months ended September 30, 2005 and 2004,\n respectively.\n\nCertain key factors affecting our 2005 third quarter results include:\n\n Revenues in the third quarter of 2005 increased by euro 101.6 million\n over the comparative period of 2004 to euro 148.9 million, primarily\n from the inclusion of production and sales from our Stendal and Celgar\n pulp mills.\n\n Operating EBITDA increased to euro 21.9 million in the current quarter\n from euro 5.3 million in the prior quarter of 2004 reflecting higher\n pulp sales and a contribution to income from operations of euro 6.1\n million resulting from the sale of excess carbon emission credits by our\n German pulp mills. For a definition of Operating EBITDA, see page 6 of\n this press release and for a reconciliation of net loss to Operating\n EBITDA, see page 11 of the financial tables included in this press\n release.\n\n Interest expense increased to euro 21.9 million in the third quarter of\n 2005 from euro 4.2 million in the comparative period of 2004 and\n included euro 14.7 million of interest associated with the Stendal mill.\n In the prior peri...