Acadian Timber Corp Reports First Quarter Results and Management Team Changes streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
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Acadian generated sales of $91.0 million, compared to $100.0 million in the prior year. Sales volume, excluding biomass, decreased 10% mostly due to lower hardwood and softwood pulpwood sales. Acadian s weighted average selling price, excluding biomass, was flat year-over-year with a higher value product mix offset by lower value sawlogs sold in 2020.
Operating costs and expenses were $70.2 million during 2020, compared to $77.8 million in the prior year due to lower harvesting activity and administrative costs. Weighted average variable costs, excluding biomass, were flat year-over-year.
Adjusted EBITDA for the year ended December 31, 2020 was $21.5 million, compared to $23.6 million in the prior year, while Adjusted EBITDA margin remained consistent with the prior year at 24%.