Mario Plourde, President and CEO, had the following comments on the 2Q results: "These quarterly results represent our best performance for a 2Q since 2009, excluding discontinued operations. Despite a slight sequential strengthening of the Canadian dollar, all of our groups improved their performance, most notably our Tissue Papers and Specialty Products groups experienced a 53% and 40% OIBD improvement respectively. Benefiting from strategic initiatives undertaken over the last few years, the Containerboard Group continued to improve and was the largest contributor to our results with $55 million of OIBD and an OIBD margin of 17%.”
In comparison with the same period last year, sales increased by 4% to $950 million due to higher shipments, mainly in the Tissue Papers Group, and the positive impact of the weakening of the Canadian dollar against its U.S. counterpart.
Operating income, excluding specific items, increased from $47 million in the 2Q 2014 to $59 million in the 2Q 2015.
When including specific items, operating income amounted to $61 million in comparison to $37 million for the same period of last year.
Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres.
