Mercer International Inc. reports second quarter and first half 2022 results and announces quarterly cash dividend of $0.075

Selected Highlights

• Second quarter net income of $71.4 million and Operating EBITDA* of $145.1 million
• Record quarterly wood products operating income and energy revenues

NEW YORK, NY, July 28, 2022

Mercer International Inc. (Nasdaq: MERC) today reported second quarter 2022 Operating EBITDA increased to a $145.1 million from $83.8 million in the second quarter of 2021 and decreased from $154.5 million in the first quarter of 2022.

In the second quarter of 2022, net income was $71.4 million (or $1.08 per basic share and $1.07 per diluted share) compared to $21.4 million (or $0.32 per share) in the second quarter of 2021 and net income of $88.9 million (or $1.35 per basic share and $1.34 per diluted share) in the first quarter of 2022.

In the first half of 2022, Operating EBITDA increased by 81% to $299.5 million from $165.8 million in the same period of 2021. In the first half of 2022, net income was $160.3 million (or $2.43 per basic share and $2.41 per diluted share) compared to $27.3 million (or $0.41 per share) in the same period of 2021.

Mr. Juan Carlos Bueno, the Chief Executive Officer, stated: “Our strong second quarter operating results were driven by increased pulp and lumber pricing, continued strong energy pricing and our Stendal mill’s reversal of it’s wastewater fee accrual. These positive effects were offset by higher planned maintenance costs, higher costs for key inputs including fiber, energy and chemicals, and lower pulp sales volumes. We continue to see cost inflation for certain inputs, including energy costs. However, we see our surplus energy sales as a strong hedge against higher energy prices and we are focused on developing strategies to manage the cost of our key inputs.

You can view the remainder of the results in greater detail here.