Supremex Inc. announces its results for the 1Q ended March 31, 2020. Total revenue was $52.4 million, representing a 5.6% increase from $49.7 million in the 1Q 2019.
1Q 2020 EBITDA was $7.7 million, compared with an EBITDA of $6.4 million in the equivalent period of last year, representing an increase of 19.3% primarily resulting from a higher contribution of the Canadian envelope platform and a decrease of selling, general and administrative expenses. Adjusted EBITDA for the 1Q 2020 was $8.2 million compared with $6.5 million in the equivalent quarter of 2019. Adjusted EBITDA margins increased to 15.7% of revenue compared with 13.0% in the equivalent quarter of 2019.
Net earnings were $2.6 million (or $0.09 per share) for the three-month period ended March 31, 2020, compared with $1.8 million (or $0.06 per share) for the equivalent period in 2019.
"We delivered strong overall performance in the 1Q 2020. Profitability improved on solid results from Canadian envelope operations, including the recent acquisition of Royal Envelope in Eastern Canada, and from our growing U.S. envelope platform, which continues to gain market share. Envelope remains a highly profitable segment and a key driver to our bottom line and cash flow generation," said Stewart Emerson, President & CEO of Supremex. "On the packaging side, we continue to improve our operations, grow sales and recently hired a highly experienced executive to lead this segment to profitable expansion."
Supremex Inc. is a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions.
