Q4 2019 CINR Earnings Call Transcript
Ed Freydel - Vice President, Finance
Thank you, Lori. Good morning and thank you for joining us to discuss our fourth quarter and full year 2019 earnings. Oz Erkan, our CEO, will discuss some highlights from the year. I will then provide additional details related to our financials, and Oz will close the call with some additional commentary on our operational performance and growth plans.
Before we begin, I would like to remind you that the comments included in today's conference call constitute forward-looking statements within the meaning of federal securities laws. These are based on our beliefs as well as certain assumptions and information currently available to us. Actual results may differ materially from the results suggested by these comments for a number of reasons, which are discussed in more detail in the company's SEC filings.
Certain financial measures discussed during this call, including Adjusted EBITDA, distributable cash flow and distribution coverage ratio are non-GAAP financial measures. Reconciliations of those non-GAAP financial measures can be found in our earnings press release.
I will now turn the call over to Oz.
Oguz Erkan - President and Chief Executive Officer
Thanks, Ed. And good morning, everyone. Welcome to Ciner Resources’ fourth quarter and full year 2019 earnings call.
2019 was a historic year for Ciner Resources, highlighted by an annual production record of 2.75 million short tons. The year-over-year increase in production of approximately 140,000 tons marked a commendable turnaround from 2018, demonstrating our emphasis on operational success and production reliability. Our team showed tremendous commitment to proactively reducing maintenance downtime and maximizing the efficiency of our assets. We are proud of this performance, but more importantly, we are thankful for each member of our team at Ciner. Everyone worked together to contribute to this significant turnaround.
Strength in the international market, particularly during the first three quarters of 2019, led us to shift volume from lower price domestic customers to more favorable export sales in order to optimize our overall realized pricing. This shift in customer mix and increased production volume allowed us to increase export volume by nearly 330,000 tons from 2018, and as a result, we achieved higher pricing both domestically and internationally and improved our overall average sales price by almost 2%.