Cascades' Q4 2024 sales of $1,211 million increased by $73 million compared with the same period last year. This was driven by consolidated net benefits of $42 million from higher selling prices, $23 million from stronger volumes, and $21 million from a more favourable foreign exchange. These were partially offset by a $13 million sales mix impact.
The Q4 2024 EBITDA totaled $146 million, an increase of $24 million, or 20%, from the $122 million generated in the same period last year. This increase was driven by consolidated net benefits of $42 million from higher selling prices, mainly in the Containerboard segment. These were partially offset by impacts of $15 million from higher raw material costs and $4 million from higher production costs.
For the three-month period ended December 31, 2024, the Corporation posted a net loss of $13 million, or $0.13 per common share, compared to a net loss of $57 million, or $0.57 per common share, in the same period of 2023. On an adjusted basis, the Corporation posted net earnings of $25 million in the Q4 2024, or $0.25 per common share, compared to net earnings of $5 million, or $0.05 per common share, in the same period of 2023.
Hugues Simon, President and CEO, commented: "Our Q4 2024 performance was in line with expectations. Favourable average selling prices and raw material costs in the Containerboard business drove stronger sequential results, offsetting the impact of usual lower seasonal volumes. Specialty Products continued to perform well despite slightly lower volume sequentially. In Tissue, average selling prices and raw material costs were advantageous, and fully offset slightly higher operational costs. Broadly, the depreciation of the Canadian dollar benefited quarterly results, but led to higher reported debt levels at the end of the year given the company's $1.3 billion of US denominated debts."
Discussing near-term outlook, Mr. Simon commented, "Operationally, raw material costs remain a tailwind for our businesses in the Q1, and we are currently seeing steady seasonal demand levels. We will not be providing an outlook for near-term financial or business-specific performance given the lack of clarity regarding the implementation of bilateral tariffs between Canada and the United States. The continued risk has resulted in significant near-term macro-economic uncertainty, and may disrupt or negatively impact future demand levels, customer buying patterns and the economic performance of both countries.”
Founded in 1964, Cascades offers sustainable, innovative and value-added packaging, hygiene and recovery solutions.
