MERC FY 2017 Earnings Report — Mercer International Inc. Revenue & Financial Results | Market Cap Arena

Mercer International Inc.MERC

FY 2017 Earnings

Reported February 16, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$1.2B	—	$932M	—	25.5%
Op. Income	$167M	—	$114M	—	46.9%
Gross Margin	18.5%	—	17.0%	—	1.5pp
Net Margin	6.0%	—	3.8%	—	2.3pp
EPS (Diluted)	$1.08	—	$0.54	—	100.0%
Free Cash Flow	$82M	—	$96M	—	-14.7%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$952M
GROSS PROFIT	$217M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$50M
Other Expenses	$0
Operating Expenses	$50M
Cost & Expenses	$1.0B
OPERATING INCOME	$167M
Interest Income	$0
Interest Expense	$55M
Other Income/Expenses	-$65M
INCOME BEFORE TAX	$104M
Income Tax Expense	$33M
Net Income from Continuing Ops	$70M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$70M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$70M
D&A	$85M
EBIT	$169M
EBITDA	$254M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$952M
GROSS PROFIT	$217M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$50M
Other Expenses	$0
Operating Expenses	$50M
Cost & Expenses	$1.0B
OPERATING INCOME	$167M
Interest Income	$0
Interest Expense	$55M
Other Income/Expenses	-$65M
INCOME BEFORE TAX	$104M
Income Tax Expense	$33M
Net Income from Continuing Ops	$70M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$70M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$70M
D&A	$85M
EBIT	$169M
EBITDA	$254M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$70M
Depreciation & Amortization	$85M
Stock-Based Compensation	$3M
Deferred Income Tax	$22M
Other Non-Cash Items	$13M
Change in Working Capital	-$52M
OPERATING CASH FLOW	$142M
Capital Expenditure	-$60M
Acquisitions (Net)	-$62M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$232.0K
NET CASH FROM INVESTING	-$122M
Net Debt Issuance	$337M
Common Stock Repurchased	$0
Common Dividends Paid	-$30M
Other Financing Activities	-$19M
NET CASH FROM FINANCING	$289M
FREE CASH FLOW	$82M
Net Change in Cash	$320M

Balance Sheet

Item	Amount
Cash & Equivalents	$143M
Short-Term Investments	$0
Net Receivables	$206M
Inventory	$177M
Other Current Assets	$317M
TOTAL CURRENT ASSETS	$852M
PP&E (Net)	$845M
Goodwill	$0
Intangible Assets	$26M
Long-Term Investments	-$2M
Tax Assets	$1M
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$872M
TOTAL ASSETS	$1.7B
Account Payables	$36M
Short-Term Debt	$296M
Deferred Revenue	-$97M
Other Current Liabilities	$20M
TOTAL CURRENT LIABILITIES	$430M
Long-Term Debt	$663M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$32M
Other Non-Current Liabilities	$29M
TOTAL NON-CURRENT LIABILITIES	$744M
TOTAL LIABILITIES	$1.2B
Common Stock	$65M
Additional Paid-In Capital	$339M
Retained Earnings	$206M
Treasury Stock	$0
Accum. Other Comp. Income	-$59M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$551M
Minority Interest	$0
TOTAL EQUITY	$551M
TOTAL LIABILITIES & EQUITY	$1.7B
Total Debt	$986M
Net Debt	$843M