Cascades, Inc. Operating Income Surged 16%

SEATTLE (Scrap Monster):  Cascades, Inc. has filed electronic version of its annual report and financial statements, as a result of COVID-19 crisis.

According to the report, annual consolidated sales totalled $4,996 million, higher by 7% when compared to 2018 levels. The operating income before depreciation and amortization (OIBD) surged higher by 16%, to $547 million in 2019.

The Containerboard segment shipments decreased by 2% from 2018 to total 1.447 million s.t. The external shipments from containerboard mills witnessed reduction by 37,000 s.t. The sales decreased by 1%, compared to 2018. The segment OBID too were down by 6% during the previous year.

The European Boxboard segment reported 18% surge in external recycled boxboard shipments in 2019. The average selling price declined over 2018. The 2019 sales recorded an increase of $115 million. The segment OBID decreased by $7 million. The adjusted OBID was $108 million in 2019, compared with $97 million in 2018.

The Tissue segment external shipments dipped 25% year-on-year. The average selling price surged higher by 11%. The total sales level was up by 12%. The OBID too increased significantly.

Meantime, the specialty products segment sales skyrocketed by 37% to $492 million in 2019. The OBID increased by $17 million, whereas the adjusted OBID was $55 million compared with $33 million in 2018.

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