Acadian Timber Corp. (“Acadian”) reported financial and operating results for the year ended December 31, 2019. The company’s Adjusted EBITDA totaled $23.6 million in 2019, compared to $22.1 million during 2018, and the Adjusted EBITDA margin climbed to 24% from 22% in 2018.
Acadian generated sales of $100 million in 2019, almost unchanged from $99.8 million in the prior year.
The net income for the year ended December 31, 2019 totaled $17.3 million, or $1.04 per share, compared to net income of $26.3 million, or $1.57 per share, in 2018.
“Acadian delivered another year of solid operating and financial performance. Weighted average prices and harvesting costs remained stable year-over-year and operating results benefited from lower year-end harvested log inventories and decreased administrative costs,” commented Erika Reilly, Interim CEO of Acadian.
Acadian Timber Corp. is a leading supplier of primary forest products in Eastern Canada and the Northeastern U.S. With a total of approximately 2.4 million acres of land under management, Acadian is one of the largest timberland operators in New Brunswick and Maine.