2018 International Forest Industries IFI Aug Sept 2018 Digital | Page 13

LOGGING & BIOMASS NEWS
Conifex Timber 2Q revenues up 72%
Conifex Timber Inc. reported
results for the 2Q ended June
30, 2018. EBITDA in the 2Q 2018,
which excludes countervailing and
anti-dumping duty deposits of $8.2
million, was a record $20.8 million,
compared to $9.3 million in the 1Q
2018 and $10.2 million in the 2Q
2017.
Revenues totaled $200.3
million in the 2Q 2018, an
improvement of 53% over the prior
quarter and 72% over the same
quarter last year. The revenue
growth over the comparative
quarters was mainly attributable
to an increase in lumber segment
revenues. The commencement
of commercial operations in
April 2018 at its El Dorado Mill
contributed approximately 8% of
total revenues.
Net income for the 2Q 2018 was
$9.2 million, or $0.35 per share,
compared to net income of $2.5
million or $0.10 per share in the
previous quarter and $4.2 million
or $0.16 per share in the 2Q 2017.
Year to date net income was
$11.7 million, or $0.44 per share
compared to $2.8 million or $0.12
per share for the same period last
year. Net income for the first half of
2018 included deferred income tax
expense of $4.2 million. There were
no income tax expenses recorded
for the first six months of 2017.
EBITDA was $30.1 million for
the six month period ended June
30, 2018 compared to $16.3 million
for the six month period ended
June 30, 2017.
Metsä Group’s bioproduct mill reaches full capacity
Metsä Group’s next-generation
bioproduct mill in Äänekoski,
Finland, reached its nominal
capacity in August 2018, accordi