Cascades reports positive 3Q 2015 results

Cascades Inc., Kingsey Falls, Quebec, Canada has announced sales and operating income figures for the third quarter of 2015 that have grown compared with both the prior quarter and the third quarter of 2014.

Cascades, which describes itself as “a leader in the recovery and manufacturing of green packaging and tissue paper products,” reports sales of slightly more than CA$1 billion in the third quarter of 2015, up 13 percent from CA$900 million in the third quarter of 2014. The sales total also has improved 8 percent from the CA$950 million recorded in the second quarter of 2015.

The Canadian papermaker also has reported operating income before depreciation (OIBD) of CA$134 million in the most recent quarter, up 30 percent from the $103 million operating income of the previous quarter and up 44 percent from the $93 million operating income of the third quarter of 2014.

“We are pleased with the third quarter results, a result of the good performance of all our groups,” says Cascades president and CEO Mario Plourde. “Our OIBD of $134 million is a quarterly record.”

Plourde credits capacity and product line emphasis decisions made in the previous several years by Cascades as having allowed it to improve its competitive position in 2015. “The difficult portfolio rationalization measures and strategic initiatives undertaken over the last few years, combined with better productivity and cost reduction measures in the Tissue Papers Group, have enabled us to benefit more fully from favorable market conditions, particularly in Canada,” he comments.

Of the company’s CA$134 million in operating income in the third quarter of 2015, more than half (CA$68 million) derived from the containerboard division, while tissue paper accounted for CA$43 million.