Mercer International Inc. reported strong results for the 4Q and year ended December 31, 2016. Total revenues for the three months ended December 31, 2016 decreased by approximately 7% to $221.7 million from $237.8 million in the same quarter of 2015, primarily as a result of lower pulp sales realizations and lower pulp and energy sales volumes.
In the 4Q 2016, operating income decreased to $39 million from $44.2 million in the same quarter of 2015, primarily as a result of lower pulp sales realizations and lower sales volumes resulting from higher maintenance downtime, partially offset by lower costs resulting from a strong dollar and the reversal of accruals for wastewater fees of $13.6 million. Operating income in the 4Q 2015 included a recovery of a utility claim of $6.1 million.
For the 4Q 2016, net income was $18.5 million, compared to net income of $21.7 million in the same quarter of 2015.
In the 4Q 2016, Operating EBITDA decreased by approximately 6% to $57.8 million from $61.5 million in the same quarter of 2015, primarily due to lower pulp sales realizations and lower sales volumes resulting from higher maintenance downtime, partially offset by the reversal of accruals for wastewater fees of $13.6 million. In the 4Q 2015, Operating EBITDA included a recovery of a utility claim of $6.1 million.
In 2016, total revenues decreased by approximately 10% to $931.6 million from $1,033.2 million in 2015. In 2016, operating income decreased to $113.7 million from $165.7 million in 2015.
Net income was $34.9 million in 2016, compared to $75.5 million in 2015. In 2016, Operating EBITDA decreased by 21% to $185.7 million from $234 million in 2015.
Mercer International Inc. is a global pulp manufacturing company.
