Mercer International Inc. reports second quarter and first half 2024 results and announces quarterly cash dividend of $0.075

Selected Highlights

• Second quarter Operating EBITDA* of $30.4 million and net loss of $67.6 million
• Strengthened pulp markets drive improvement in operating cash flows and liquidity
• Quarterly cash dividend of $0.075 per share

NEW YORK, NY, August 8, 2024

Mercer International Inc. (Nasdaq: MERC) today reported second quarter 2024 Operating EBITDA of $30.4 million, an increase from negative Operating EBITDA of $68.7 million in the same quarter of 2023 and a decrease from Operating EBITDA of $63.6 million in the first quarter of 2024.

In the second quarter of 2024, net loss was $67.6 million ($1.01 per share), which included a non-cash impairment of $34.3 million ($0.51 per share) against goodwill related to the Torgau facility, compared to a net loss of $98.3 million ($1.48 per share) in the second quarter of 2023 and a net loss of $16.7 million ($0.25 per share) in the first quarter of 2024, which included a non-cash loss on disposal of $23.6 million ($0.35 per share) related to the dissolution of the Cariboo Pulp and Paper (“CPP”) joint venture.

Mr. Juan Carlos Bueno, Chief Executive Officer, stated: “The second quarter was another improved quarter for our pulp segment as we continued to benefit from strengthening markets. Despite lower pulp sales volumes primarily stemming from previously announced scheduled downtime and the disposal of CPP, cash flow from operations improved significantly in the second quarter of 2024. This improved aggregate liquidity allowed us to reduce borrowings by approximately $45 million under our revolving credit facilities during the quarter.

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