Feb 22, 2014. /Lesprom Network/. Supremex Inc. announced its results for the 4Q ended December 31, 2013. Revenue in the 4Q 2013 amounted to $33.6 million compared with $33.7 million in the 4Q 2012. This decrease for the 4Q is mainly attributable to a reduction of volume sold in Canada and in the United States, offset by a favorable sales mix resulting in an increase in overall selling prices in the United States. The decrease in units sold in Canada was mainly seen in the public sector market, while in the United States it was in the direct mail market, as the company said in the press release received by Lesprom Network.

EBITDA in the 4Q 2013 amounted to $6.7 million compared with $7.1 million for the 4Q 2012, mainly due to the negative impact of the weakening of the Canadian dollar.

Net earnings for the 4Q 2013 amounted to $2.7 million compared with $3 million for the same period in 2012 and to $11.5 million for the year ended December 31, 2013 compared with a net loss of $19.6 million in 2012, due to the goodwill impairment of $28.9 million recorded in the 3Q 2012.

"The last quarter of 2013 was relatively similar to last year. With this quarter we are completing a year where we have seen the business perform as well as the year before, as opposed to the decline sustained in previous years" said Gilles Cyr, President and CEO of Supremex.

"Not only has the business performed better than expected but the impressive turnaround in the financial position of our Pension Plans has helped deleveraging the balance sheet.

“We are pleased that the Canadian government has announced in the throne speech and then in its budget tabled on February 11 th that it will prohibit the pay-to-pay practice that charges customers for paper bills, including printed credit cards statements. We see this change as a positive outcome that would most likely see people elect to go back to paper their preferred way of getting their bills," said Mr. Cyr.

For 2013, revenues stood at $129 million compared to $131.9 million in 2012, a decrease of 2.2%.The decrease in revenues is mainly attributable to the lower number of units sold in the Canada partially offset by the increase in number of units sold in the United States.

For 2013, the EBITDA amounted to $25.1 million, excluding the gain of $2.8 million resulting from the 2013 defined benefit pension plan amendments, compared to $24.6 million for the previous year. The increase in EBITDA is mainly attributable to the cost reduction initiatives implemented in 2012 and a favorable sales mix resulting in an increase in overall selling prices in the United States.

Supremex Inc. is Canada's largest manufacturer and marketer of a broad range of stock and custom envelopes and related products.