Supremex Inc. announced its results for the 2Q ended June 30, 2017. Revenue for the 2Q 2017 increased by 4.4%, or $1.7 million to $41.1 million, compared with $39.4 million during the three-month period ended June 30, 2016.
EBITDA stood at $5.4 million for the three-month period ended June 30, 2017, compared with $6.9 million for the same period in 2016, a decrease of $1.5 million, or 21.8%. EBITDA margins stood at 13.1% compared to 17.5% during the 2Q 2016.
2Q 2017 net earnings decreased to $2.8 million, compared to $3.9 million for the same period in 2016, primarily due the lower sales volume of Canadian envelopes.
“Revenues grew by 4.4% in the quarter with the largest growth area coming from packaging and specialty products, followed by revenues from the US envelope market. I am pleased that our strategy to diversify the business continues to progress, allowing us to compensate for the significant volume decline of Canadian envelopes during the quarter,” said Stewart Emerson, President & CEO of Supremex. “The recently announced acquisition of Stuart Packaging, our first acquisition in the folding carton packaging market, will serve to reinforce this diversification strategy and help us to continue to grow.”
Revenue for the six-month period ended June 30, 2017 increased by 7%, or $5.6 million to $86.3 million, compared with $80.7 million during the six-month period ended June 30, 2016.
EBITDA stood at $12.3 million for the six-month period ended June 30, 2017, compared with $14 million for the same period in 2016, a decrease of $1.7 million, or 12.5%. EBITDA margins stood at 14.2% compared to 17.4% during the first six months of last year.
Net earnings amounted to $6.9 million for the 1H 2017, compared with $7.1 million for the equivalent period in 2016.
Supremex Inc. is a leading North American manufacturer and marketer of envelopes and a growing provider of packaging and specialty products.
