In the 4Q 2015, operating income decreased to $44.2 million from $52.3 million in the comparative quarter of 2014, primarily due to lower pulp sales realizations, partially offset by the positive impact of a stronger U.S. dollar on our costs.
In the 4Q 2015, Operating EBITDA decreased by approximately 14% to $61.5 million from $71.3 million in the 4Q 2014, as a result of lower pulp sales realizations, partially offset by a stronger U.S. dollar.
Total revenues in FY 2015 decreased by approximately 12% to $1,033.2 million from $1,175.1 million in 2014.
In 2015, operating income increased to $165.7 million from $161.8 million in 2014.
In 2015, Operating EBITDA marginally decreased by 2% to $234 million from $239.8 million in 2014, as the decline in pulp sales realizations, lower energy revenues and higher maintenance costs more than offset the positive effect of the strength of the U.S. dollar.
Mr. David M. Gandossi, CEO, stated: "Net income in the 4Q 2015 increased to $21.7 million from $3.2 million in the comparative quarter of 2014, which included a loss of $28.5 million on the settlement of debt in connection with the refinancing of our long-term debt. In 2015, net income was $75.5 million, compared to $113.2 million in 2014, which included a net income tax benefit of $16.8 million, a non-cash gain on derivative instruments of $11.5 million and a net gain on the settlement of debt of $3.4 million."
Mercer International Inc. is a global pulp manufacturing company.
