Monday, February 24, 2014

Newalta Corporation - NAL.t

Newalta Corporation - NAL.t provides cost-effective solutions to industrial customers to improve their environmental performance with a focus on recycling and recovery of products from industrial residues.

The company is based in Calgary, Alberta and provides services through a network of facilities and customer locations.

On February 19, 2014 the company released News

"Newalta Corporation ("Newalta") (TSX:NAL) today reported results for the three months and year ended December 31, 2013. "
"Our start to the year was weak, weighed down by reduced market demand and lower prices for our products, however, performance improved as the year progressed," said Al Cadotte, President and CEO of Newalta. "In the final three quarters of 2013, before non-recurring items Adjusted EBITDA grew by 20 percent over the prior year. The last three quarters are indicative of the results we expect from our business plan.

"In the fourth quarter, improved performance across all of our operations was offset by non-recurring charges of about $4.5 million. For the year, Adjusted EBITDA excluding non-recurring charges, was $156.0 million, up 10 percent compared to 2012.