In comparison with the same period last year, 4Q 2015 sales increased by 11% to $975 million as the company benefited from a weaker Canadian dollar and higher average selling prices in our containerboard and tissue papers activities.
Operating income, excluding specific items, increased from $38 million in the 4Q 2014 to $47 million in the 4Q 2015.
Mario Plourde, President and CEO, had the following comments on the most recent quarterly results: "We concluded 2015 on a strong note with an OIBD of $104 million, the highest ever achieved for a 4Q and 27% higher than during the same period last year. For the full year and on a comparable asset base, the OIBD of $426 million represents a record for the Corporation and an increase of 25% compared to 2014. Our free cash flow amounted to $150 million in 2015 and was mostly used to reduce indebtedness. All of our North American groups improved their quarterly results compared to the same period last year due in part to a weaker Canadian dollar. The sequential OIBD decrease is mostly the result of seasonality."
Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres.