Mercer reports improved Q3 2013 results

Mercer International Inc. recently reported results for the third quarter ended September 30, 2013. Operating EBITDA increased in the third quarter of 2013 to €24.8 million ($32.9 million) from €22.3 million ($27.9 million) in the third quarter of 2012 and €14.0 million ($18.3 million) in the second quarter of 2013. Current quarter Operating EBITDA includes €2.9 million of severance and personnel costs associated with our Celgar mill workforce reduction. For the third quarter of 2013, our net loss declined to €2.2 million ($2.9 million), or €0.04 ($0.05) per share, from a net loss of €9.7 million ($12.1 million), or €0.17 ($0.21) per share, in the third quarter of 2012 and a net loss of €9.9 million ($12.9 million), or €0.18 ($0.24) per share, for the second quarter of 2013. Mr. Jimmy S.H. Lee, President and Chairman, stated: "In the current quarter, Operating EBITDA improved to €24.8 million from €14.0 million in the prior quarter which included costs and production losses associated with our Celgar mill's shutdown. Our results in the current quarter reflect generally stable pulp price, severance and personnel costs associated with the Celgar workforce reduction, a strong Euro versus the U.S. dollar and continued high fiber costs in Germany." Mr. Lee added: "At the end of the third quarter of 2013, list prices in Europe were approximately $880 per ADMT and in North America and China were approximately $945 and $695 per ADMT, respectively. A $20 per ADMT price increase in all markets was announced in late September and a further $20 per ADMT price increase has been announced in October 2013. We expect demand and pricing to have an upward trend in the fourth quarter of 2013 due to rising Asian demand, the closure of the Tofte mill in Norway and current NBSK inventory levels being slightly under-balanced at 27 days."