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Mercer International Inc. Reports Record Annual Pulp Production, Pulp Sales Volumes And Energy Sales And 2012 Fourth Quarter And Year End Results

Stocks in this article: MERC

Summary Operating Highlights

  Q4 Q3 Q4 Year Year
   2012   2012   2011   2012   2011 
Pulp production ('000 ADMTs)  349.5  373.4  364.9  1,468.3  1,453.7
Scheduled production downtime ('000 ADMTs)  18.1  10.2  27.9  50.9  52.4
Pulp sales ('000 ADMTs)  335.2  404.3  400.0  1,473.5  1,427.9
Average NBSK pulp list price in Europe ($/ADMT) (1)  803  777  868  813  956
Average NBSK pulp list price in Europe (€/ADMT)  619  620  644  632  687
Average pulp sales realizations (€/ADMT) (2)  504  501  527  511  574
Energy production ('000 MWh)  405.9  436.5  409.5  1,704.1   1,640.4
Energy sales ('000 MWh)  163.8  181.3  169.0  710.2  652.1
Average spot currency exchange rates:          
€ / $ (3)  0.7707  0.7999  0.7425  0.7782  0.7186
C$ / $ (3)  0.9912  0.9954  1.0227  0.9995   0.9887
C$ / € (4)  1.2862  1.2452  1.3788  1.2850  1.3761
(1) Source: RISI pricing report.
(2) Average realized pulp prices for the periods indicated reflect customer discounts and pulp price movements between the order and shipment date.
(3) Average Federal Reserve Bank of New York noon spot rate over the reporting period.
(4) Average Bank of Canada noon spot rate over the reporting period.

President's Comments

Mr. Jimmy S.H. Lee, President and Chairman, stated: "Overall, our fourth quarter and 2012 results reflect generally weak NBSK pulp prices due to continued economic uncertainty in Europe and China. However, our mills generally performed well in 2012 as we achieved record annual pulp production and sales volumes. We also set an annual record for energy and chemical sales in 2012 as sales increased by approximately 6% to €72.3 million from €68.1 million in 2011. The sale of surplus renewable energy provides us with a stable income source unrelated to cyclical movements in pulp pricing and increasing the same is a continuing focus for us."

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