A judge in British Columbia has granted Northern Pulp creditor protection until the end of 2020 and approved an interim financing agreement that will see the mill receive $15 million from third-party lenders. Justice Shelley Fitzpatrick delivered her decision Thursday in B.C Supreme Court via teleconference following two days of arguments. The ruling means the mill, which was facing a cash crunch, now has the liquidity to get it to the end of the year as it works toward completing environmental cleanup work required by the Nova Scotia government at a site in Pictou County and works on a restructuring effort in hopes of eventually reopening the operation.
Suzano S.A. (B3: SUZB3 | NYSE: SUZ), one of the world’s largest integrated pulp and paper producers, announces today its consolidated results for the 2nd quarter of 2021 (2Q21).
• Pulp sales of 2,537 thousand tons (-9% vs. 2Q20).
• Paper sales of 296 thousand tons (+26% vs. 2Q20).
• Adjusted EBITDA1 and Operating cash generation²: R$5.9 billion and R$4.9 billion, respectively.
• Adjusted EBITDA1 /ton3 from pulp of R$2,166/ton (+56% vs. 2Q20).
• Adjusted EBITDA1 /ton4 from paper of R$1,506/ton (+12% vs. 2Q20).
• Average net pulp price – export market: US$636/t (+35% vs. 2Q20).
• Average net paper price4 of R$4,731/ton (+9% vs. 2Q20).
• Pulp cash cost ex-downtime of R$680/ton (+13% vs. 2Q20).
• Decrease in leverage to 3.3 times in USD and 3.1 times in BRL.
details at: https://s1.q4cdn.com/987436133/files/doc_downloads/2021/08/2T21/Release-de-Resultados_2T21_EN_vFinal_SEC.pdf