Acadian Timber Corp. (“Acadian”) generated net sales of $99.8 million in 2018, a year-over-year increase of $4.4 million as the company benefited from a 3% increase in log sales volumes due to strong demand and favourable operating conditions.
Acadian generated Adjusted EBITDA of $22.1 million during 2018 compared to $23.3 million in the prior year while the Adjusted EBITDA margin of 22% for 2018 decreased from 24% in 2017.
Net income for the year ended December 31, 2018 totaled $26.3 million, or $1.57 per share, compared to $30.8 million, or $1.84 per share, in 2017. The decrease in 2018 is primarily the result of an unrealized foreign exchange loss on the revaluation of U.S. dollar-denominated long-term debt compared to an unrealized gain in the prior year, partially offset by a favourable fair value revaluation of timber assets.
“Acadian posted another year of strong performance. Well-balanced regional supply demand fundamentals in both softwood and hardwood segments continue to support attractive stable log pricing across all key markets” commented Mark Bishop, Chief Executive Officer of Acadian.
Acadian Timber Corp. is a leading supplier of primary forest products in Eastern Canada and the Northeastern U.S.
