Cascades Inc., a leader in the recovery and manufacturing of green packaging and tissue paper products, announces its unaudited financial results for the three-month period ended June 30, 2015.
Q2 2015 highlights include:
- Sales of $950 million (compared to $910 million in Q1 2015 (+4%) and $910 million in Q2 2014 (+4%))
- Excluding specific items OIBD of $103 million (compared to $85 million in Q1 2015 (+21%) and $90 million in Q2 2014 (+14%))
- Net earnings per share of $0.25 (compared to $0.18 in Q1 2015 and $0.08 in Q2 2014)
- Greenpac contribution to net earnings per share: $0.03 (compared to $0.03 in Q1 2015 and a net loss of $0.01 in Q2 2014)
Mr. Mario Plourde , President and Chief Executive Officer, had the following comments on the second quarter results: "These quarterly results represent our best performance for a second quarter since 2009, excluding discontinued operations. Despite a slight sequential strengthening of the Canadian dollar, all of our groups improved their performance, most notably our Tissue Papers and Specialty Products groups experienced a 53% and 40% OIBD improvement respectively. Benefiting from strategic initiatives undertaken over the last few years, the Containerboard Group continued to improve and was the largest contributor to our results with $55 million of OIBD and an OIBD margin of 17%.”
