5N Plus Inc. Reports Financial Results for the Third Quarter Ended September 30, 2014

MONTREAL, Nov. 4, 2014 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the leading producer of specialty metal and chemical products, today reported financial results for the third quarter ended September 30, 2014.

• Revenues for the third quarter of 2014 reached $114.4 million, which corresponds to an increase of $5.9 million or 5% compared to $108.6 million for the third quarter of 2013.
• Adjusted EBITDA¹ for the third quarter of 2014 reached $8.1 million up from $5.8 million for the third quarter of 2013.
• Net earnings for the third quarter of 2014 reached $4.2 million or $0.05 per share compared to $1.3 million or $0.02 per share for the third quarter of 2013.
• Net debt¹ stood at $75.9 million, up from June 30, 2014 and up from $63.5 million as at September 30, 2013.
• Bookings¹ of $101.3 million in the quarter, higher than third quarter of 2013. Bookings for the nine-month period ended September 30, 2014 increased by 17% and stood at $360.5 million compared to $307.2 million for the same period last year.
• On August 7, 2014, 5N Plus announced the closing of a senior secured multi-currency revolving credit facility of $125 million maturing in August 2018 (with an additional $25 million accordion feature) to replace its existing $100 million senior secured revolving facility.

Jacques L'Ecuyer, President and Chief Executive Officer, said "We reported another solid quarter despite the usual summer slowdown and some margin erosion in our solar business.  Combined with the results of the first two quarters of the year we are heading towards a record adjusted EBITDA level for 2014.  Demand remains strong in most market segments as reflected in our backlog and bookings levels.  This is especially true for our bismuth products which are on track to reach a record level for a second consecutive year. 

Mr. L'Ecuyer continued, "We continue to focus on improving operational efficiency and expect to see gains in terms of costs, throughput and inventory levels in the coming quarters as we leverage several initiatives for which we have yet to reap the full benefits.  These include ramping up of our bismuth refining activities in Laos as well as optimization of our footprint."

Mr. L'Ecuyer concluded, "We are excited by progress made in several new areas including our semiconductor substrate business where we continue to make both technical and commercial progress in material systems which now extend beyond germanium.  This progress is a key component of our growth strategy as we aim to expand our range of value-added products and develop a stronger foothold in recycling and primary sourcing.  We expect to report further progress in these areas in the coming quarters as they gradually positively impact our bottom line."

About 5N Plus Inc.
5N Plus is the leading producer of specialty metal and chemical products.  Fully integrated with closed-loop recycling facilities, the Company is headquartered in Montreal, Québec, Canada and operates manufacturing facilities and sales offices in several locations in Europe, the Americas and Asia.  5N Plus deploys a range of proprietary and proven technologies to produce products which are used in a number of advanced pharmaceutical, electronic and industrial applications.  Typical products include purified metals such as bismuth, gallium, germanium, indium, selenium and tellurium, inorganic chemicals based on such metals and compound semiconductor wafers.  Many of these are critical precursors and key enablers in markets such as solar, light-emitting diodes and eco-friendly materials.

Forward-Looking Statements and Disclaimer
This press release may contain forward-looking information within the meaning of applicable securities laws.  All information and statements other than statements of historical facts contained in this press release are forward-looking information.  Such statements and information may be identified by words such as "about", "approximately", "may", "believes", "expects", "will", "intends", "should", "plans", "predicts", "potential", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof or other comparable terminology.  Forward-looking statements are based on the best estimates available to 5N Plus at this time and involve known and unknown risks, uncertainties and other factors that may cause 5N Plus' actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  A description of the risks affecting 5N Plus' business and activities appears under the heading "Risk and Uncertainties" of 5N Plus' 2013 MD&A dated February 25, 2014 and note 13 of the unaudited interim condensed consolidated financial statements for the three and nine-month periods ended September 30, 2014 and 2013 available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that 5N Plus will derive therefrom.  In particular, no assurance can be given as to the future financial performance of 5N Plus.  The forward-looking information contained in this press release is made as of the date hereof and 5N Plus undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws.  The reader is warned against placing undue reliance on these forward-looking statements.

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1} See Non-IFRS Measures

SOURCE 5N Plus Inc.