Feb 27, 2014. /Lesprom Network/. NewPage Holdings Inc. announced its results of operations for the full year 2013.Net sales for the full year 2013 were $3,054 million compared to $3,131 million for 2012, a decrease of $77 million, or 2%.On a year over year basis, net sales were primarily affected by lower sales volume of paper and lower average paper prices, partially offset by improved mix.For the full year, net loss was $(2) million in 2013 compared to net income of $1,258 million in 2012. The decrease was primarily the result of reorganization items, net, partially offset by improved gross margin, as the company said in the press release received by Lesprom Network.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization as further adjusted as shown in the attached reconciliation) was $269 million in 2013 compared to $238 million in 2012.

NewPage closed the year with total liquidity of $400 million, consisting of $317 million of availability under the revolving credit facility and $83 million of available cash and cash equivalents.

Cash from operating activities was $116 million during 2013 compared to $3 million during 2012, primarily the result of lower cash requirements for interest and other bankruptcy related activities as a result of emerging from Chapter 11 Proceedings, as well improved gross margins driven by cost reductions.

Capital expenditures for 2013 were $75 million compared to $157 million in 2012. Capital expenditures in 2012 included $54 million associated with the purchase of paper machine No. 35, previously under a capital lease pursuant to the Chapter 11 plan.

"We were able to offset the impact of lower prices with improvements in productivity and cost saving measures to increase adjusted EBITDA by 13% compared to 2012.Our year over year improvement in Adjusted EBITDA comes at a time when there was a 4.3% decline in North American demand for coated paper according to PPPC," said George F. Martin, president and CEO for NewPage.

NewPage is a leading producer of printing and specialty papers in North America. NewPage is headquartered in Miamisburg, Ohio, and owns paper mills in Kentucky, Maine, Maryland, Michigan, Minnesota and Wisconsin. These mills have a total annual production capacity of approximately 3.5 million tons of paper. The company's portfolio of paper products includes coated, supercalendered and specialty papers.