Company at a Glance

Corporate Overview

  • We manufacture diverse specialty printing papers, newsprint and pulp for retailers, publishers and commercial printers
  • We have an annual production capacity of 1.8 million tonnes of paper and 500,000 tonnes of pulp
  • We are:
    • The only western North American producer of coated mechanical paper and SC paper
    • Among the largest producers of directory paper in the world
    • The only North American producer of pulp and paper with manufacturing facilities in the West, Midwest and East.
  • Our Sage line of specialty papers comes with verifiable assurances relating to fibre supply, carbon emissions and mill-level performance
  • We are headquartered in Richmond, BC, Canada
  • We respond to both the Carbon Disclosure Project and the Forest Footprint Disclosure Project
  • All of our mills are chain-of-custody certified to both the Programme for the Endorsement of Forest Certification (PEFC) and Forest Stewardship Council (FSC)  standards.

Manufacturing Facilities

(No. of machines)

Coated Paper1

Uncoated Paper1

Newsprint1

NBSK Market Pulp

Crofton, BC (2)4

-

-

350,000

377,0002

Port Alberni, BC (2)

224,000

116,000

-

-

Powell River, BC(2)5

-

350,000

-

-

Rumford, ME (3)6

459,000

15,000

-

93,0003

Biron, WI (2)6

335,000

-

-

-

1 Capacities expressed in the above tables can vary as we are able to switch production between products, particularly coated groundwood, coated freesheet, coated one-side and machine-finished uncoated grades.
2 Total pulp capacity at Crofton is 407,000 tonnes, of which 377,000 tonnes are designated as market pulp with the remaining 30,000 tonnes being consumed internally.
3 Total pulp capacity at Rumford is 485,000 tonnes, of which 105,000 tonnes are designated as market pulp with the remaining 380,000 tonnes being consumed internally.
4 No. 1 paper machine at Crofton remains indefinitely curtailed since 2010.
5 No. 9 paper machine at Powell River was indefinitely curtailed since 2014.
6. No. 12 paper machine at Rumford resumed production in the quarter on an intermittent basis after being curtailed on September 1, 2015.

Production Capacity

(Excludes results from the U.S. mills that were acquired on Jan. 7, 2015)

 

Sales by Segment
(% of 2015 sales $)

Sales by Market
(% tonnes 2015)

Coated Paper

44%

Coated Paper

52%

United States

61%

Uncoated Paper

21% Uncoated Paper

19%

Canada 8%
Newsprint 15% Newsprint 12% Latin America 8%
Market Pulp 20% Market Pulp 17% Asia & Australasia 23%
Total Tonnes 2,319,000        

Performance Highlights

(Q1 2015 includes results from the U.S. mills that were acquired on Jan. 7, 2015)

Social

Q3 2016 Q2 2016 Q1 2016

Q4 2015

Q3 2015

Q2 2015

Q1 2015

Lost time injuries / 200,000 hours worked; Threshold = 1.02 1.29 0.60 0.75 1.24 1.35 1.63 0.88
Medical incidents / 200,000 hours worked; Threshold = 3.02
(includes both lost time and less serious incidents)
3.06 1.51 2.56

 

2.60

 

2.21

 

3.32

 

3.66

Financial ($MM, except EPS and exchange)

Q3 2016 Q2 2016 Q1 2016

Q4 2015

Q3 2015

Q2 2015

Q1 2015

Sales $502.7 $460.8 $510.4 $510.8 $542.6 $458.4 $479.3
Net earnings (loss) attributable to company (185.0) (26.6) 16.9 (26.3) (12.9) (32.4) 22.2
- before specific items1 7.6 (27.3) (5.1) (10.0) 8.4 (13.8) (12.6)
Adjusted EBITDA1 31.9 (5.3) 17.1 15.1 38.8 (19.2) 14.0
- before specific costs1 35.3 (1.1) 17.7 19.8 41.2 9.7 16.0
Free Cash Flow 9.8 (30.0) (1.7) (11.4) 23.4 (41.5) (8.1)
Total Liquidity 77.5 74.5 84.0 93.8 86.2 85.6 101.6
Capital Spending (3.1) (10.3) (5.1) (10.1) (2.9) (11.1) (10.4)
Net earnings (loss) per share attributable to the company's common shareholders (in dollars)              
- basic and diluted $(12.76) $(1.84) $1.17 $(1.82) $(0.89) $(2.23) $1.53
US$/CDN$ Exchange, average 0.766 0.776 0.728 0.749 0.764 0.813 0.805
1 Refer to section 6, Non-GAAP measures, of the 2015 Management's Discussion & Analysis.

Commercial (000 tonnes)

Q3 2016 Q2 2016 Q1 2016

Q4 2015

Q3 2015

Q2 2015

Q1 2015

Total Sales 556.7 512.4 542.8 541.9 570.8 511.1 510.5
Production & Capacity Utilization               Production
                  Coated 248.4 245.9 238.5 239.7 205.1 215.4 282.3
                  Uncoated 111.7 109.7 102.0 109.7 104.2 93.7 110.7
                  Newsprint 86.6 72.9 81.5 84.4 92.4 82.0 83.7
                  Pulp 92.8 72.1 87.1 82.4 94.6 87.3 80.3
                Curtailment
                  Coated 6.3     - - 33.0 -
                  Uncoated       - - 12.5 -