"International Paper undertook a thorough review of its position in serving the Chinese and Asian markets," said Mark Sutton, International Paper Chairman and CEO. "The Company remains committed to serving these very important markets, but concluded we could be more effective supplying this region with globally competitive products primarily through our Ilim joint venture in Russia and from the U.S." The IP-Sun JV transaction is expected to be completed within the next six months, subject to satisfaction of closing conditions, including obtaining required Chinese governmental approvals.
EBITDA(1) of $69 million and Net Earnings of $28 million
Operating Cash Flow(1) of $1.00 per share
Net Debt to Invested Capital(1) of 0%
Greenfield Decision Postponed Indefinitely
INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) recorded net earnings in Q3’18 of $28.1 million, or $0.40 per share, compared to $63.8 million, or $0.91 per share in Q2’18 and $16.8 million, or $0.24 per share in Q3’17. Adjusted net earnings in Q3’18 were $28.2 million or $0.40 per share, compared to $68.9 million, or $0.98 per share in Q2’18 and $20.0 million, or $0.29 per share in Q3’17.
Adjusted EBITDA was $69.4 million on sales of $570.5 million in Q3’18 versus $123.8 million on sales of $619.9 million in Q2’18.
In comparison to the third quarter of 2017, Interfor posted improved results across most key metrics, including an $8.9 million or 15% improvement in Adjusted EBITDA, an $11.3 million or 67% increase in net earnings and a 29 million board foot rise in lumber production.
more detail at: http://www.interfor.com/sites/default/files/docs/reports/interfor-reports-q318-results.pdf