Mercer International Inc. reports fourth quarter and year end 2023 results and announces quarterly cash dividend of $0.075

Selected Highlights

• Fourth quarter Operating EBITDA* of $21.1 million and net loss of $87.2 million
• Full year 2023 Operating EBITDA of $17.5 million and net loss of $242.1 million
• Continued to ramp up and build out the order book of our mass timber business in 2023
• Quarterly cash dividend of $0.075 per share

NEW YORK, NY, February 15, 2024

Mercer International Inc. (Nasdaq: MERC) today reported that Operating EBITDA in the fourth quarter of 2023 was $21.1 million compared to $96.1 million in the same quarter of 2022 and $37.5 million in the third quarter of 2023.

In the fourth quarter of 2023, net loss was $87.2 million (or $1.31 per share), which included a non-cash impairment of $33.7 million (or $0.51 per share) relating to the classification of our sandalwood business as held for sale, compared to net income of $20.0 million (or $0.30 per share) in the fourth quarter of 2022 and net loss of $26.0 million (or $0.39 per share) in the third quarter of 2023.

In 2023, Operating EBITDA was $17.5 million compared to $536.5 million in 2022. Net loss was $242.1 million (or $3.65 per share) in 2023 compared to net income of $247.0 million (or $3.74 per basic share and $3.71 per diluted share) in 2022.

Mr. Juan Carlos Bueno, the Chief Executive Officer, stated: “In the fourth quarter, our operating results were positively impacted by an improved pulp pricing environment. However, our results decreased relative to the preceding quarter because of greater planned maintenance downtime in the fourth quarter and because in the third quarter there were positive impacts from the recognition of non-cash items and sales of previously impaired inventory.

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