With a continued sharp focus on operational excellence priorities, Catalyst Paper announced improved operating performance for the 1Q 2015.
Adjusted earnings before tax, depreciation and amortization (EBITDA) were $14 million compared to $6.8 million in 4Q 2014. Excluding specific items, net loss was $12.6 million compared to a net loss of $10.4 million in the 4Q 2014. In the 1Q, the company incurred $1.4 million on transaction costs to complete the acquisition of the US mills and $5.5 million on integration of the mills. Free cash flow was negative $8.1 million, compared to negative $12.2 million in the previous quarter.
"The leadership changes and investments we made in the past 18 months are delivering step change performance improvements in Canada," said Joe Nemeth, President & CEO. "We're applying the same approach and sense of urgency in our US operations, and with the majority of strategic investments and integration costs behind us by the end of 2Q, we believe we will have a strong second half."
