Strong EBITDA Growth
Consolidated EBITDA increased by 10% from Q1 to $137 million, and year-over-year EBITDA increased by 22%.
Packaging Segment Performance
Packaging segment’s EBITDA increased 9% sequentially to $119 million, driven by higher selling prices. Year-over-year EBITDA increased by 38%, with margins improving by 4.1%.
Bear Island Facility Improvement
Production increased 8% to 82,000 tons versus the first quarter, with July production levels reaching 91% of the targeted ramp-up level.
Reduced Corporate Activity Costs
Corporate activity costs decreased by $8 million year-over-year and are expected to remain lower for the rest of the year.
Refinancing and Improved Liquidity
Net debt decreased by $112 million in Q2, and available liquidity improved by $400 million since Q1, reaching $595 million.