2/25/2016
NEWS BRIEFS
Tree Island Steel Sales Grow

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Tree Island Steel reported revenues increased 28.4% to $54.3 million in the fourth quarter of 2015.  Volumes rose 22.2% to 38,981 tons. Q4 gross profit increased to $5.9 million, while EBITDA grew to $1.8 million, representing a year‐over‐year increase of 51%. 

“At the same time, pricing discipline and our continuing efforts to manage our costs improved our gross profit margin from 9.9% in 2014 to 10.9% in 2015,” the company stated. 

Full-year revenues gained 26% to $231.3 million on 162,243, up from 139,935 tons for 2014. Gross profit jumped 67% to $32.1 million, while EBITDA increased 128.1% to $18.2 million in 2015. 

“We achieved meaningful progress again in 2015,” stated CEO Dale Maclean.

“The addition of our new production facility in Calgary during the fourth quarter of 2015 increases our production capacity and expands the scope of the products we offer in welded wire re‐enforcement through increased capacity on standard construction mesh products and the addition of engineered structural mesh products.”  Web: treeisland.com