The current quarter results include a non-recurring debt refinancing charge of $37 million and a non-cash loss of $17 million related to the translation of US dollar denominated debt.
Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $20 million for the three-month period ended December 27, 2014, as compared to adjusted EBITDA of $13 million a year ago and adjusted EBITDA of $29 million in the prior quarter.
The Specialty Cellulose Pulp segment generated adjusted EBITDA of $9 million on sales of $102 million for the quarter ended December 2014, compared to adjusted EBITDA of $16 million on sales of $123 million in the prior quarter.
The Forest Products segment generated adjusted EBITDA of $7 million on sales of $115 million for the quarter ended December 2014, compared to adjusted EBITDA of $11 million on sales of $113 million in the prior quarter.
The Paper Pulp segment generated nil adjusted EBITDA on sales of $59 million for the quarter ended December 2014, compared to nil adjusted EBITDA on sales of $73 million in the prior quarter. The $14 million decrease in sales was due to lower shipments.
The Paper segment generated adjusted EBITDA of $8 million on sales of $76 million for the quarter ended December 2014, compared to adjusted EBITDA of $7 million on sales of $86 million in the prior quarter.
Tembec is a manufacturer of forest products – lumber, pulp, paper and specialty cellulose – and a global leader in sustainable forest management practices.
