“We are pleased with the solid performance demonstrated by the Partnership in the 1Q 2015,” stated John Keppler, Chairman and CEO. “Our results during the quarter demonstrate the stability of cash flows generated by our geographically diversified base of operating assets and reflect our ability to deliver strong financial results even amid slightly higher than expected seasonality.”
“On a pro forma basis, we generated revenues of $114.3 million. We were able to increase pro forma revenues at a high, single-digit rate of growth when compared to the first quarter of 2014, made possible by improved production levels. Total wood pellet sales in the 1Q 2015 of 583 thousand metric tons were up approximately 10% over the same period in 2014. Adjusted EBITDA improved in the 1Q 2015 compared to the corresponding period in 2014 due to increased revenue, a stable fixed-cost position, and a favorable mix of customer off-take and marine shipping contract pricing.”
Enviva Partners, LP is a publicly traded, growth-oriented master limited partnership. Enviva Partners is the world’s largest supplier by production capacity of utility-grade wood pellets to major power generators serving customers in Europe, Asia, and the United States.