Q2/2022 (year-on-year) • Sales increased by 18% to EUR 3,054 (2,592) million. • Operational EBIT increased by 39% to EUR 505 (364) million. • Operational EBIT margin increased to 16.5% (14.0%). • Operating profit (IFRS) increased to EUR 399 (182) million. • Cash flow from operations amounted to EUR 404 (463) million. Cash flow after investing activities was EUR 247 (339) million. • Operational ROCE excluding the Forest division increased to 22.8% (18.1%), the target being >13%. Q1-Q2/2022 (year-on-year) • Sales were EUR 5,852 (4,868) million. • Operational EBIT was EUR 1,008 (692) million.
Along with members of the community, provincial and federal elected representatives, staff at Meadow Lake Mechanical Pulp mill (MLMP) and Paper Excellence Canada today celebrated 30 years of the pulp mill being in operation. The mill is located just east of Meadow Lake and has been operational since 1992.
MLMP was the first mill Paper Excellence Canada acquired in 2007. The mill employs over 200 full-time employees, creates approximately 1,300 direct and indirect jobs, and creates approximately $470 million in economic activity annually.
”Today is a great day for Meadow Lake Mechanical Pulp and Paper Excellence, as we celebrate 30 years of the mill being in operation,” said Stew Gibson, Chief Operating Officer for Paper Excellence Canada. “We are proud that our employees have made the pulp mill a staple in the Meadow Lake community and northern Saskatchewan for so long, and recognize everything the mill contributes to improve the quality of life for so many.”
“Congratulations to all the leadership and staff at Meadow Lake Mechanical Pulp on 30 years of operation,” MLA for Meadow Lake Jeremy Harrison said. “Our government will continue to support the forestry sector as part of our growing economy and I look forward to the next 30 years of success for Meadow Lake Mechanical Pulp.”
MLMP also marked the 30th anniversary by celebrating several employees at the mill who have worked there for 30+ years, including Rob Goozee, General Manager at the mill.
“It’s been great to work at the mill since it opened in 1992,” said Goozee. “Lots of people have come and gone, but the mill remains and that’s a testament to the strength of the community that we live in and industry that we work in.”
MLMP produces approximately 400,000 tonnes of bleached chemi-thermal mechanical pulp (BCTMP) annually. BCTMP is used to make a variety of products from tissue and paper towel to food and board packaging.