For the 4Q 2016, Enviva Partners, LP generated net revenue of $126.5 million, an increase of 8.3%, or $9.7 million, from the corresponding quarter of 2015, as the company said in the press release received by Lesprom Network.
Adjusted EBITDA for the 4Q 2016 was $22.2 million, an increase of 3.1%, or $0.7 million, from the corresponding period in 2015. The increase in adjusted EBITDA was driven by increased product sales and lower raw material costs. Distributable cash flow, prior to any distributions attributable to incentive distribution rights paid to the general partner, was $12.9 million.
For the full-year 2016, Enviva Partners, LP generated net revenue of $464.3 million, an increase of 1.5%, or $6.9 million, from 2015.
The company generated net income of $17.7 million in 2016 compared to $19.5 million last year, a decrease of $1.7 million, driven principally by a $10 million non-cash impairment charge associated with the planned sale of our smallest production plant located in Wiggins, Mississippi, and higher interest expense.
Adjusted EBITDA for 2016 was $89.6 million, an increase of 16%, or $12.4 million, from 2015.
Enviva Partners, LP is a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets.
