Mercer International Inc. reports third quarter and nine months 2022 results and announces quarterly cash dividend of $0.075

Selected Highlights

• Third quarter net income of $66.7 million and Operating EBITDA* of $140.9 million

• Record year to date net income of $227 million and Operating EBITDA* of $440.4 million

• Expanded German solid wood business with the acquisition of HIT Torgau

NEW YORK, NY, October 27, 2022

Mercer International Inc. (Nasdaq: MERC) today reported third quarter 2022 Operating EBITDA of $140.9 million similar to $148.1 million in the third quarter of 2021 and $145.1 million in the second quarter of 2022.

In the third quarter of 2022, net income was $66.7 million (or $1.01 per basic share and $1.00 per diluted share) compared to $69.1 million (or $1.05 per basic share and $1.04 per diluted share) in the third quarter of 2021 and net income of $71.4 million (or $1.08 per basic share and $1.07 per diluted share) in the second quarter of 2022.

In the first nine months of 2022, Operating EBITDA increased by 40% to $440.4 million from $313.9 million in the same period of 2021. In the first nine months of 2022, net income increased to $227.0 million (or $3.43 per basic share and $3.41 per diluted share) from $96.5 million (or $1.46 per share) in the same period of 2021.

Mr. Juan Carlos Bueno, the Chief Executive Officer, stated: “I am pleased with our third quarter operating results. Strong energy and pulp prices combined with favorable foreign exchange movements and lower planned major maintenance were the main factors behind our operating results relative to the second quarter. 

We are excited about the addition of the HIT Torgau mill to the Mercer group. This acquisition will increase our lumber capacity to almost one billion board feet and diversifies our product offering with the addition of both pallets and wood pellets. The Torgau mill acquisition also brings additional green energy production capacity to our business. Since the acquisition closed on September 30th, we have focused on integrating this business and also ensuring we begin capitalizing on the estimated $16 million of annual synergies that we have identified.

You can view the remainder of the results in greater detail here.