Supremex Inc. announces its results for the 3Q ended September 30, 2021. Total revenue was $54.8 million, representing an increase of $4.9 million, or 9.9% from the equivalent quarter of 2020.
3Q 2021 EBITDA and Adjusted EBITDA were $8.7 million, up 8%, from $8.1 million in the 3Q 2020. This increase resulted from higher sales volumes in both segments and operational efficiencies derived from the cost optimizations plan. Adjusted EBITDA margins decreased to 15.9% of revenue compared to 16.2% in the equivalent quarter of 2020.
3Q 2021 net earnings and Adjusted net earnings were $3.4 million (or $0.12 per share) for the three-month period ended September 30, 2021, compared to $2.7 million (or $0.10 per share) for the equivalent period in 2020.
"We are very pleased with our 3Q performance which included strong sales growth in both segments and the seventh consecutive quarter of year-over-year improvement in adjusted EBITDA. We achieved these results in spite of a negative currency conversion, an extremely tight supply chain for all paper grades and rapidly escalating costs across the board. This is a testament to our product and geographic diversification, the resilience of our business model and a commitment to passing through inflation," said Stewart Emerson, President & CEO of Supremex.
Total revenue for the nine-month period ended September 30, 2021, reached $160.2 million, a 6.8% increase from $150 million for the nine-month period ended September 30, 2020.
EBITDA increased by 17.7% to $26.7 million in the nine-month period ended September 30, 2021, up from $22.6 million in the equivalent period of 2020. Adjusted EBITDA increased by 15.1% to $26.8 million, up from $23.3 million in the first nine months of last year, resulting from higher sales volumes in both segments, operational efficiencies derived from cost optimizations, improvements in folding carton manufacturing activities and higher recorded subsidies ($2.2 million versus $0.9 million for the same period last year). Adjusted EBITDA margins increased to 16.7% of revenue compared to 15.5% in the equivalent period of 2020.
Net earnings were $10.9 million (or $0.39 per share) for the nine-month period ended September 30, 2021, compared to $7.2 million (or $0.26 per share) for the equivalent period in 2020.
Supremex is a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions.
