Acadian Timber reported 14% increase of Adjusted EBITDA amid 7.6% increase of sales in 1Q2017 y-o-y. According to the announcement, the company’s revenues accounted for USD 23.1 million, generating Adjusted EBITDA of USD 8 million (35% margin) in the period.
Mark Bishop, CEO of Acadian, commented:
“Acadian generated strong free cash flow during the first quarter resulting in a payout ratio down to 62% inclusive of the impact of our recent 10% dividend increase. Our operations benefited from favorable winter conditions which supported seasonally strong log production.”
In 4Q2016 Acadian Timber generated 31% Adjusted EBITDA margin.
Earlier Acadian Timber announced that the Toronto Stock Exchange (TSX) has approved its notice of intention to make a normal course issuer bid for a portion of its common shares.
About Acadian Timber:
The company is a leading supplier of primary forest products in Eastern Canada and the Northeastern U.S. With a total of approximately 2.4 million acres of land under management, Acadian is the second largest timberland operator in New Brunswick and Maine. It owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine, and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands. Acadian also owns and operates a forest nursery in Second Falls, New Brunswick. The company’s products include softwood and hardwood sawlogs, pulpwood and biomass by-products, sold to approximately 90 regional customers.