Mercer International Inc. reports third quarter 2024 results and announces quarterly cash dividend of $0.075

Selected Highlights

• Third quarter Operating EBITDA* increased by 35% to $50.5 million (net loss of $17.6 million) from $37.5 million (net loss of $26.0 million) in the same quarter of 2023
• Continued strength in softwood pulp markets
• Pulp volumes in the third quarter impacted by unplanned downtime
• Quarterly cash dividend of $0.075 per share

NEW YORK, NY, October 31, 2024

Mercer International Inc. (Nasdaq: MERC) today reported third quarter 2024 Operating EBITDA of $50.5 million, an increase from $37.5 million in the same quarter of 2023 and $30.4 million in the prior quarter of 2024.

In the third quarter of 2024, net loss was $17.6 million ($0.26 per share) compared to a net loss of $26.0 million ($0.39 per share) in the third quarter of 2023 and a net loss of $67.6 million ($1.01 per share) in the second quarter of 2024, which included a non-cash impairment of $34.3 million ($0.51 per share) against goodwill related to the Torgau facility.

Mr. Juan Carlos Bueno, Chief Executive Officer, stated: „In the third quarter, softwood pulp markets continued to be strong and fiber costs remained stable. However, our operating results were constrained as a result of lower pulp sales volumes caused by unplanned downtime at our Peace River mill and other unexpected production events. In the third quarter of 2024, these events had an impact on our production of approximately 71,200 ADMTs.

Our team was able to restart the Peace River mill earlier than initially expected, limiting the related downtime in the fourth quarter to an additional 12 days. We have no remaining downtime planned at our pulp mills for the rest of 2024.

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