02.07.20
Domtar Corporation reported a net loss of $34 million for the fourth quarter of 2019 compared to net earnings of $20 million for the third quarter of 2019 and net earnings of $87 million for the fourth quarter of 2018. Sales for the fourth quarter of 2019 were $1.2 billion. Personal care sales were $242 million in the fourth quarter of 2019 compared to $254 million in the fourth quarter of 2018.
For fiscal year 2019, net earnings amounted to $84 million compared to net earnings of $283 million for fiscal year 2018. Sales amounted to $5.2 billion for fiscal year 2019 compared to $5.5 billion for fiscal year 2018. Personal care sales for the fiscal year were $953 million in 2019 compared to $1 billion in 2018.
Commenting on the full-year results, John D. Williams, president and CEO said, “Our teams were agile in adjusting to market changes and executed well on things under our control in a challenging market environment. We had strong cash flow generation and our solid financial position allowed us to continue to reward shareholders with a high free cash flow payout ratio, while strategically investing in our assets.”
Commenting on Personal Care in the fourth quarter, Williams added, “We had a strong finish to a good year. EBITDA significantly improved when compared to last year and we reached 12% EBITDA margins, which is the highest level since 2017. We expect to build on the momentum from this past year by continuing to focus on the execution of our margin improvement plan and restore and grow the profitability of the business.”
For fiscal year 2019, net earnings amounted to $84 million compared to net earnings of $283 million for fiscal year 2018. Sales amounted to $5.2 billion for fiscal year 2019 compared to $5.5 billion for fiscal year 2018. Personal care sales for the fiscal year were $953 million in 2019 compared to $1 billion in 2018.
Commenting on the full-year results, John D. Williams, president and CEO said, “Our teams were agile in adjusting to market changes and executed well on things under our control in a challenging market environment. We had strong cash flow generation and our solid financial position allowed us to continue to reward shareholders with a high free cash flow payout ratio, while strategically investing in our assets.”
Commenting on Personal Care in the fourth quarter, Williams added, “We had a strong finish to a good year. EBITDA significantly improved when compared to last year and we reached 12% EBITDA margins, which is the highest level since 2017. We expect to build on the momentum from this past year by continuing to focus on the execution of our margin improvement plan and restore and grow the profitability of the business.”