Q4 2025 Mercer International Inc Earnings Call Transcript

Feb 13, 2026 / 03:00 PM GMT

Release Date Price: €1.48 (+4.23%)

Transcript 10-K8-K

Key Points

Positve

Mercer International Inc (MERC) improved its liquidity by $54 million in the fourth quarter, reaching $430 million.
The company realized approximately $30 million in cost savings and reliability improvements in 2025 through its One Goal 100 program.
Pulp sales volumes increased by 20,000 tons to 472,000 tons in the fourth quarter.
The mass timber business has developed a healthy order book, with expected 2026 revenues to be more than double those of 2025.
Mercer International Inc (MERC) is on track to achieve its goal of $100 million in improvements by the end of 2026 compared to its 2024 baseline.

Negative

Mercer International Inc (MERC) reported a consolidated net loss of $309 million for the fourth quarter, or $4.61 per share.
The company faced significant market headwinds, including pricing, weak demand, and elevated fiber costs in both Germany and Canada.
Non-cash impairment charges against long-lived assets totaled $260 million, with $204 million against the Peace River Mill.
The pulp and solid wood segments both reported negative quarterly EBITDA of $11 million in the fourth quarter.
Fiber costs are expected to increase in both Canada and Germany in the first quarter of 2026 due to supply constraints and seasonal demand.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MERC.OQ - Mercer International Inc
Q4 2025 Mercer International Inc Earnings Call
Feb 13, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to Mercer International's Fourth quarter 2025 earnings conference call. On the call today is Juan Carlos Bueno, President and Chief Executive Officer of Mercer International, and Richard Short, CFO and secretary. I will now hand the call over to Richard Short.

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Unidentified_2 [2]
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Thanks, Shannon. Good morning, everyone.

Thanks for joining us today. I will begin by touching on the financial and operating highlights of the 4th quarter before turning the call to Juan Carlos to provide further color into the markets

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