Supremex Inc. announced its results for the 3Q ended September 30, 2020. Total revenue for the three-month period ended September 30, 2020, was $49.9 million, representing an increase of 10.4% from the equivalent quarter of 2019.
EBITDA and Adjusted EBITDA was $8.1 million, compared with $5.4 million in the equivalent period of last year, representing an increase of 49.3% primarily from the contribution from the Royal Envelope acquisition, higher e–commerce sales, growth in the U.S. envelope businesses and $0.9 million from the CEWS program. Adjusted EBITDA margins increased to 16.2% of revenue compared to 12.0% in the equivalent quarter of 2019. Excluding the contribution of the CEWS, Adjusted EBITDA margins were at 14.3% of revenue.
Net earnings were $2.7 million (or $0.10 per share) for the three-month period ended September 30, 2020, compared with $1.2 million (or $0.04 per share) for the equivalent period in 2019.
“Although there remains uncertainty with regards to the full impact of the pandemic on customers and the economy, these results demonstrate the resiliency of our business model and the benefits of our growth and diversification strategy. Looking ahead, we are focused on extracting operational leverage, profitably grow our packaging platform and creating shareholder value,” said Stewart Emerson, President & CEO.
Total revenue for the nine-month period ended September 30, 2020 reached $150 million, a 5.3% increase from $142.5 million for the nine-month period ended September 30, 2019.
EBITDA increased by 22.5% or $4.1 million, to $22.6 million in the first nine months of 2020, up from $18.5 million in the equivalent period of 2019.
Net earnings stood at $7.2 million (or $0.26 per share) for the nine-month period ended September 30, 2020, compared with net earnings of $4.8 million (or $0.17 per share) in the equivalent period in 2019.
Supremex is a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions.
