MERC FY 2021 Earnings Report — Mercer International Inc. Revenue & Financial Results | Market Cap Arena

Mercer International Inc.MERC

FY 2021 Earnings

Reported February 17, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.8B	—	$1.4B	—	26.7%
Op. Income	$347M	—	$64M	—	443.8%
Gross Margin	23.6%	—	9.2%	—	14.4pp
Net Margin	9.5%	—	-1.2%	—	10.7pp
EPS (Diluted)	$2.58	—	$-0.26	—	1092.3%
Free Cash Flow	$21M	—	-$38M	—	156.9%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.4B
GROSS PROFIT	$426M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$79M
Other Expenses	$0
Operating Expenses	$79M
Cost & Expenses	$1.5B
OPERATING INCOME	$347M
Interest Income	$2M
Interest Expense	$70M
Other Income/Expenses	-$86M
INCOME BEFORE TAX	$261M
Income Tax Expense	$90M
Net Income from Continuing Ops	$171M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$171M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$171M
D&A	$132M
EBIT	$347M
EBITDA	$479M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.4B
GROSS PROFIT	$426M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$79M
Other Expenses	$0
Operating Expenses	$79M
Cost & Expenses	$1.5B
OPERATING INCOME	$347M
Interest Income	$2M
Interest Expense	$70M
Other Income/Expenses	-$86M
INCOME BEFORE TAX	$261M
Income Tax Expense	$90M
Net Income from Continuing Ops	$171M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$171M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$171M
D&A	$132M
EBIT	$347M
EBITDA	$479M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$171M
Depreciation & Amortization	$132M
Stock-Based Compensation	$2M
Deferred Income Tax	$19M
Other Non-Cash Items	$13M
Change in Working Capital	-$155M
OPERATING CASH FLOW	$182M
Capital Expenditure	-$161M
Acquisitions (Net)	-$51M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$25M
NET CASH FROM INVESTING	-$187M
Net Debt Issuance	$9M
Common Stock Repurchased	$0
Common Dividends Paid	-$17M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$10M
FREE CASH FLOW	$21M
Net Change in Cash	-$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$346M
Short-Term Investments	$0
Net Receivables	$345M
Inventory	$357M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$1.1B
Goodwill	$0
Intangible Assets	$53M
Long-Term Investments	$50M
Tax Assets	$1M
Other Non-Current Assets	$37M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.4B
Account Payables	$58M
Short-Term Debt	$0
Deferred Revenue	$7M
Other Current Liabilities	$7M
TOTAL CURRENT LIABILITIES	$283M
Long-Term Debt	$1.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$95M
Other Non-Current Liabilities	$35M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$1.7B
Common Stock	$66M
Additional Paid-In Capital	$348M
Retained Earnings	$371M
Treasury Stock	$0
Accum. Other Comp. Income	-$91M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$694M
Minority Interest	$0
TOTAL EQUITY	$694M
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$1.3B
Net Debt	$910M