Mercer International reported 2Q operating of Euro 50.1 million
Aug 03, 2011. Mercer International's total revenues for the 2Q, ended June 30, 2011 decreased slightly to Euro 231.2 million from Euro 240.2 million in the same period in 2010. In the 2Q 2011, operating EBITDA decreased to Euro 50.1 million from Euro 62.1 million in the 2Q 2010, primarily due to a weaker U.S. dollar relative to both the Euro and the Canadian dollar.
Aug 03, 2011. /Lesprom Network/. Mercer International's total revenues for the 2Q, ended June 30, 2011 decreased slightly to Euro 231.2 million from Euro 240.2 million in the same period in 2010, primarily due to lower pulp revenues, partially offset by higher energy revenues. Pulp revenues for the three months ended June 30, 2011 decreased to Euro 217.3 million from Euro 228.3 million in the comparative period of 2010, primarily due to a weaker U.S. dollar more than offsetting higher U.S. list pulp prices, as the company said in a press release received by Lesprom Network.
For the 2Q 2011, operating income decreased to Euro 36.2 million from Euro 47.9 million in the comparative quarter of 2010, primarily due to lower pulp revenues resulting from a weaker U.S. dollar and lower sales volumes.
In the 2Q 2011, operating EBITDA decreased to Euro 50.1 million from Euro 62.1 million in the 2Q 2010, primarily due to a weaker U.S. dollar relative to both the Euro and the Canadian dollar.
Jimmy S.H. Lee, President and Chairman, stated: "We are pleased with the strong 2Q as we achieved operating EBITDA of Euro 50.1 million and net income of Euro 14.4 million, despite a 5% decline of the U.S. dollar versus the Euro from the 1Q and some seasonal softening of markets towards the end of the quarter."
Total revenues for the six months ended June 30, 2011 increased to Euro 455.4 million from Euro 420.5 million in the same period in 2010. Pulp revenues for the six months ended June 30, 2011 increased by approximately 7% to Euro 427.7 million from Euro 399.4 million in the comparative period of 2010, due to higher pulp prices and sales volumes, partially offset by a weaker U.S. dollar.
Operating EBITDA increased by approximately 7% to Euro 100.9 million in the first half of 2011 from Euro 93.9 million in the first half of 2010.
Mercer International Inc. is a global pulp manufacturing company.