Supremex Inc. announced its results for the 1Q ended March 31, 2021. Total revenue for 1Q 2021 was $53.6 million, representing an increase of 2.3% from the equivalent quarter of 2020.
EBITDA increased by 22.1% to $9.4 million in the 1Q 2021, up from $7.7 million in the 1Q 2020. Adjusted EBITDA increased by 14.5% to $9.5 million, up from $8.3 million in the equivalent quarter of last year as a result of higher packaging and specialty products sales, operational efficiencies derived from cost optimizations, improvements in folding carton manufacturing activities, and from the support of the CEWS. Adjusted EBITDA margins increased to 17.8% of revenue compared to 15.9% in the equivalent quarter of 2020. Excluding the contribution of the CEWS, Adjusted EBITDA margins stood at 16.7% of revenue in the 1Q 2021.
Net earnings were $4.1 million (or $0.15 per share) for the three-month period ended March 31, 2021, compared to $2.6 million (or $0.09 per share) for the equivalent period in 2020. Adjusted net earnings were $4.2 million (or $0.15 per share) for the three-month period ended March 31, 2021, compared to $3.1 million (or $0.11 per share) for the equivalent period in 2020.
“We continue to experience strong results from an expanded geographic reach and a diversified product offering and customer base. Increased revenues from packaging and specialty products offset the effects of secular decline and a temporary COVID related reduction in non-essential mail in the envelope segment. These revenue gains coupled with stringent cost optimization measures buoyed profitability,” said Stewart Emerson, President & CEO.
Supremex is a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions.
