CIBC INSTITUTIONAL INVESTOR CONFERENCE. INVESTOR PRESENTATION January 21-23, 2015 Whistler, British Columbia
|
|
- Bryce Newman
- 6 years ago
- Views:
Transcription
1 CIBC INSTITUTIONAL INVESTOR CONFERENCE INVESTOR PRESENTATION January 21-23, 2015 Whistler, British Columbia
2 Forward-Looking Statements This presentation and comments associated with it contain forward-looking statements including statements relating to U.S. housing recovery, the potential for constrained lumber supply, energy-related opportunities, earnings sensitivity and estimated annual capital expenditures. These statements are subject to the cautionary statement which introduces West Fraser s 2013 Annual Management s Discussion & Analysis which can be accessed on the Company website 2
3 Our Goals To be a leading forest products manufacturer, focused on solid wood products Strong financial results through the business cycle Long-term growth and shareholder value enhancement Stable, conservative financial structure 3
4 Our Strategy Operational excellence Diversification Product differentiation Integration 4
5 Operational Excellence Managing to ensure a committed workforce Cost control and efficiency Continuous reinvestment Internal and external benchmarking and competition Straightforward, consistent business model 5
6 Product Diversification LUMBER 27 mills PANELS 7 mills PULP & PAPER 5 mills SPF 3.9 Bfbm SYP 2.3 Bfbm Total 6.2 Bfbm Plywood: 830 MMsf3/8 MDF: 300 MMsf3/4 LVL: 3.2 MMcf NBSK: 590 Mtonnes BCTMP: 650 Mtonnes Newsprint: 135 Mtonnes North America s largest lumber producer Largest plywood producer in Canada Third largest pulp producer in Canada 6
7 Trend Sales Mix ($) Pulp & Paper 23% Panels 11% Lumber 66% 7
8 Operations diversified by geography Geographic diversification Lumber Capacity U.S. 37% B.C. 40% Alberta 23% 8
9 Product Differentiation Wood as the best environmental choice Renewable resource, sustainable business Expanding applications Bioenergy, full use of the resource 9
10 Integration (in Canada) Lumber, panels, pulp, newsprint and energy Substantial fibre self-sufficiency Fuller utilization of resource Some benefits from counter-cyclicality Better able to respond to new opportunities such as bioenergy 10
11 Earnings Growth Drivers - Lumber Demand Supply - North American housing - Chinese construction and industrial applications - Japanese housing - Fibre limitations - Residual offtake - Mill closures - People Efficiency - Capital investment - Business model 11
12 Ytd Q3-14 Returns on Lumber 40% EBITDA Margin (%) - Lumber 35% 30% 25% 20% Average: 16% 15% 10% 5% 0% -5% -10% 12
13 Million Units U.S. Housing 2.25 Pent Up Housing Demand (conventional + mobile) Production Underlying Demand Significant pent up demand bodes well for long-term recovery Source: FEA, Q
14 US Housing Single Family Share well below 30 year average Share of single-family housing starts 90% 85% 80% 75% 70% 65% 60% 30 year average share = 76% 55% 50% Source: FEA 14
15 Unlike Single-Family, Multi-family has Recovered Thousands 2, , , , , , Single-Family (Left Scale) Multi-Family (Right Scale) Source: U.S. Census Bureau 15
16 U.S. Lumber End Use U.S. Lumber End-use 2013 U.S. Lumber End-use Normalized Industrial Production, 30% Nonresidential/ Mobile, 5% Single Family Construction, 24% Industrial Production, 23% Nonresidential/ Mobile, 7% Single Family Construction, 37% Multifamily Construction, 3% Residential Improvements, 38% Residential Improvements, 29% Multifamily Construction, 4% Source: FEA and WF 16
17 MMfbm Canadian Shipments to China 3,500 3,000 Equivalent to 300,000 housing starts * 2,500 2,000 1,500 1, Proj. * Based on consumption of 11.5 Mfbm per U.S. housing start (average mix of single and multi family) Source: Council of Forest Industries, November
18 B.C. Shipments to Japan Mmfbm 1,600 1,400 1,200 1, Thousand 2x4 Starts Shipments 2x4 Starts Proj Source: Council of Forest Industries, November
19 West Fraser Canfor Weyco GP Interfor Sierra Pacific Resolute Tolko Hampton Simpson North American Lumber Capacity Mmfbm 7,000 6,000 Top 10 Lumber Capacity 5,000 4,000 Top 10 make up only 43% of Capacity 3,000 2,000 1,
20 Million (M3) Canadian Fibre Supply Annual Allowable Cut Forecast Quebec Ontario BC Interior Source: FEA, Q
21 U.S. South Positive Timber Inventory Bfbm Int l ¼ Projected Excess Growth Growth Drain Source: FEA, Q
22 Earnings Growth Drivers - Pulp Demand Supply - China s paper, tissue and packaging demand - Developing countries demand - Price of cotton and similar products - European paper capacity closures - Russian and Canadian start ups - Product diversification (e.g. dissolving pulp) - South American production Reliability - Capital - Technology 22
23 Pulp & Paper Sales Mix 2013 ($) Europe, 6% North America, 38% Asia, 56% 23
24 Chemical Pulp End-Use Products Fluff Based Products 10% Boxboard 5% Other 4% Printing and Writing Papers 31% Specialty Papers 19% Source: PPPC 2013 Tissue 31% 24
25 BCTMP Pulp End-Use Products Newsprint 4% Specialty Papers 8% Other 3% Boxboard 44% Printing & Writing 41% Source: PPPC
26 Cdn$/tonne Paper Newsprint North American Newsprint Cost Structure Par Exchange Rate ANC Alberta Newsprint is the lowest cost newsprint producer in North America and a positive contributor to the profitability of our pulp and paper business Source: PPPC Cost Survey
27 Energy Opportunities Woodwaste to produce heat and steam to dry wood products and for electricity and steam for pulp mills Woodwaste to produce electricity to be used or sold Pulp mill effluent as a source for biogas-electricity generation Expanding opportunities to generate and sell electricity levering off current business 27
28 Energy Opportunities Power Generation from Biomass Cariboo pulp mill turbo-generator (completed) Mill achieved energy self-sufficiency and excess power sold to B.C. Hydro Slave Lake pulp mill biomethanation project Estimated startup late 2014 B.C. Hydro (Phase II) power generation projects (at two sawmills) Long-term contracts to sell power to B.C. Hydro Projected to reduce costs and contribute to sawmill earnings when completed 28
29 Capital Strategy Reinvest profits to lower costs, improve efficiency through technology and improved processes Estimate normalized annual capital spending between $150 and $225 million Anticipate capital spending in 2014 to exceed $350 million and in 2015 to approximate $300 million Growth through opportunistic acquisitions focused on solid wood 29
30 West Fraser Capital $ Million Capital Spending Ytd Q3-14 Maintenance Timber Profit Improvement Energy 30
31 Recent Growth BRITISH COLUMBIA ALBERTA 2014 CHETWYND SMITHERS HIGH PRAIRIE SLAVE LAKE HOUSTON FRASER LAKE BLUE RIDGE 2012 QUESNEL HINTON EDSON WILLIAMS LAKE 100 MILE SUNDRE CHASM 31
32 Recent Growth 2014 ARKANSAS MANSFIELD RUSSELLVILLE LITTLE ROCK LEOLA NEW BOSTON (TEXAS) HUTTIG 32
33 Why Invest in West Fraser? Proven ability to generate strong cash flow even in worst markets Consistent, straightforward business plan Loyal, long-term employee and management base Conservative financial management coupled with proven ability to grow strategically Strong historical shareholder returns 33
34 Strong Cash Generation ($millions) Total Ytd Q Cash from Operations 1, Capital Expenditures 1, Acquisitions
35 Annualized Shareholder Return (Cdn$) June 2006* December 31, % 17.3% 16% 14% 13.7% 13.6% 12% 10% 8% 6% 6.5% 6.1% 7.6% 4% 2.5% 2% 0% 0.1% West Fraser DAX Dow S&P/TSX FTSE Competitor A Competitor B Competitor C * June 2006 marked the beginning of the steep decline in U.S. housing starts Source: TD Bank 35
36 Share Value Traded Cdn$ Million 4,000 3,500 3,000 2,500 2,000 1,500 1, WFT CFP IFP 36
37 WFT Toronto Stock Exchange These materials have been prepared by Management of the Company. No regulatory authority has approved or disapproved of the contents of these materials. These materials do not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, and shall not constitute an offer, solicitation or sale of the Company s securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Securities of the Company may not be offered or sold in the United States absent their prior registration or qualification or an applicable exemption from the applicable registration or qualification requirements. 37
38 APPENDIX 38
39 Acquisition of Buchanan Lumber, High Prairie, Alberta Acquisition includes: High Prairie sawmill (current capacity of 110 MMfbm) Related real estate and transportation business Timber harvesting rights with AAC of 430,000 m 3 of coniferous and 21,000 m 3 of deciduous timber Purchase price of $55.4 million plus working capital paid in cash at closing (April 3, 2014) 180 employees West Fraser intends to expand capacity to approximately 175 MMfbm through an estimated capital investment of $15 million. 39
40 Acquisition of Travis Lumber, Mansfield, Arkansas Western Arkansas sawmill with a workforce of 140 Purchase price of US$46 million (C$51 million) plus working capital paid in cash at closing (March 7, 2014) Current capacity of 110 MMfbm West Fraser is planning expansion to approximately 150 MMfbm through an estimated US$10 million (C$11 million capital) investment. 40
41 Acquisition of Bibler Bros., Russellville, Arkansas Well-capitalized mill with 190 employees and annual capacity of approximately 160 MMfbm Purchase price of US$61 million (C$67 million) plus working capital payable in cash at closing (anticipated April 25, 2014) Will be West Fraser's fourth sawmill located in Arkansas 41
42 Earnings Sensitivity to Key Variables (2013) Estimated Earnings Sensitivity to Key Variables 1 (based on 2013 production - $ millions) Factor Variation Change in pre - tax e arnings Lumber price US$ 10 ( per Mfbm ) 55 Plywood price Cdn $ 10 ( per Msf ) 8 NBSK price US$ 10 ( per tonne ) 5 BCTMP price US$ 10 ( pe r tonne ) 6 U.S. Canadian $ exchange rate 2 US$0.01 ( per Cdn $ ) Each sensitivity has been calculated on the basis that all other variables remain constant and assumes year end foreign exchange rates. 2. Excludes exchange impact of translation of U. S. dollar - denominated debt and other monetary items. Reflects the amount of the initial US$0.01 change; additional changes are substantially, but not exactly, linear. 42
RAYMOND JAMES Forest FORUM VI. INVESTOR PRESENTATION January 14, 2016 Toronto, Ontario
RAYMOND JAMES Forest FORUM VI INVESTOR PRESENTATION January 14, 2016 Toronto, Ontario Forward-Looking Statements This presentation and comments associated with it contain forward-looking statements including
More informationInvestor Presentation. January 2019
Investor Presentation January 2019 Forward-Looking Statements This presentation and comments associated with it contain forward-looking statements including statements relating to U.S. housing recovery,
More informationInvestor Presentation. April 2019
Investor Presentation April 2019 2 General: This presentation and comments associated with it contains historical information, descriptions of current circumstances and statements about potential future
More informationR E P O R T T O S H A R E H O L D E R S
West Fraser Timber Co. Ltd. Second Quarter 2007 R E P O R T T O S H A R E H O L D E R S 1 R E P O R T T O S H A R E H O L D E R S For the second quarter of 2007, West Fraser Timber reported a loss of $14
More informationWest Fraser. 2nd Quarter 2016
West Fraser 2nd Quarter 2016 For the period April 1 to June 30, 2016 Report to Shareholders reported earnings of $98 million or $1.22 basic earnings per share on sales of $1,111 million in the second quarter
More informationNEWS RELEASE WEST FRASER TIMBER CO. LTD. ( WFT ) Friday, April 23, West Fraser Announces Improved Results
858 Beatty Street Suite 501 Vancouver, B.C. Canada V6B 1C1 Telephone: (604) 895-2700 Fax: (604) 681-6061 NEWS RELEASE WEST FRASER TIMBER CO. LTD. ( WFT ) Friday, April 23, 2010 West Fraser Announces Improved
More information2010 Management s Discussion & Analysis
2010 Management s Discussion & Analysis This discussion and analysis by West Fraser s management ( MD&A ) should be read in conjunction with the 2010 annual audited consolidated financial statements and
More informationWest Fraser Timber Co. Ltd.
West Fraser Timber Co. Ltd. Second Quar ter 2011 For the period, April 1 to June 30, 2011 Report to Shareholders REPORT TO SHAREHOLDERS WEST FRASER TIMBER CO. LTD. 2 Vancouver, B.C. West Fraser Timber
More informationEARNINGS PRESENTATION FEBRUARY 2019
EARNINGS PRESENTATION FEBRUARY 2019 1 General: This presentation and comments associated with it contains historical information, descriptions of current circumstances and statements about potential future
More information2017 MANAGEMENT S DISCUSSION & ANALYSIS
2017 MANAGEMENT S DISCUSSION & ANALYSIS Introduction and Interpretation This discussion and analysis by West Fraser s management ( MD&A ) of West Fraser s financial performance during 2017 and the fourth
More informationNEWS RELEASE WEST FRASER TIMBER CO. LTD. ( WFT ) Thursday, February 14, West Fraser Announces Fourth Quarter Results
858 Beatty Street Suite 501 Vancouver, B.C. Canada V6B 1C1 Telephone: (604) 895-2700 Fax: (604) 681-6061 NEWS RELEASE WEST FRASER TIMBER CO. LTD. ( WFT ) Thursday, February 14, 2013 West Fraser Announces
More informationWEST FRASER. 3rd Quarter 2017 For the period July 1 to September 30, 2017
WEST FRASER 3rd Quarter 2017 For the period July 1 to September 30, 2017 Report to Shareholders Third Quarter Highlights Completed acquisition of six sawmills and a finger-joint mill in Florida and Georgia
More informationCanfor Corporation Canfor Pulp Products Inc. C A N F O R C O R P O R A T I O N
Canfor Corporation Canfor Pulp Products Inc. C A N F O R C O R P O R A T I O N Forward Looking Statements The presentation and answers to questions today contain forward looking statements which involve
More informationNEWS RELEASE WEST FRASER TIMBER CO. LTD. ( WFT ) Monday, October 22, West Fraser Announces Third Quarter Results
858 Beatty Street Suite 501 Vancouver, B.C. Canada V6B 1C1 Telephone: (604) 895-2700 Fax: (604) 681-6061 NEWS RELEASE WEST FRASER TIMBER CO. LTD. ( WFT ) Monday, October 22, 2018 West Fraser Announces
More informationNEWS RELEASE WEST FRASER TIMBER CO. LTD. ( WFT ) Monday, October 22, West Fraser Announces Third Quarter Results
858 Beatty Street Suite 501 Vancouver, B.C. Canada V6B 1C1 Telephone: (604) 895-2700 Fax: (604) 681-6061 NEWS RELEASE WEST FRASER TIMBER CO. LTD. ( WFT ) Monday, October 22, 2018 West Fraser Announces
More informationCANFOR CORPORATION 2017 QUARTER THREE INTERIM REPORT
CANFOR CORPORATION QUARTER THREE INTERIM REPORT FOR THE THREE MONTHS ENDED SEPT 30, 2 Message to Shareholders 4 Management s Discussion and Analysis 16 Condensed Consolidated Balance Sheets 17 Condensed
More informationQ For the three months ended June 30, 2010 CANFOR CORPORATION 2010 SECOND QUARTER INTERIM REPORT
Q2 2010 For the three months ended June 30, 2010 CANFOR CORPORATION 2010 SECOND QUARTER INTERIM REPORT 2 Message to Shareholders 3 Management s Discussion and Analysis 18 Consolidated Balance Sheets 19
More informationCANFOR REPORTS RESULTS FOR SECOND QUARTER OF 2018
News Release FOR IMMEDIATE RELEASE CANFOR REPORTS RESULTS FOR SECOND QUARTER OF 2018 July 25, 2018 - Vancouver, B.C. - Canfor Corporation (TSX: CFP) today reported second quarter 2018 results: Highlights
More informationCIBC Institutional Investor Conference
CIBC Institutional Investor Conference January 2017 CANFOR CORPORATION. Forward Looking Statements CIBC Institutional Investor Conference January 2017 Alan Nicholl Senior Vice President, Finance & CFO
More informationRESPONSIBILITY OF MANAGEMENT
RESPONSIBILITY OF MANAGEMENT The management of West Fraser Timber Co. Ltd. ( West Fraser, we, us or our ) is responsible for the preparation, integrity, objectivity and reliability of the consolidated
More informationQ For the three months ended June 30, 2008 CANFOR CORPORATION 2008 SECOND QUARTER INTERIM REPORT
Q2 2008 For the three months ended June 30, 2008 CANFOR CORPORATION 2008 SECOND QUARTER INTERIM REPORT 2 Message to Shareholders 3 Management s Discussion and Analysis 19 Consolidated Statements of Income
More informationCIBC Institutional Investor Conference
CIBC Institutional Investor Conference January 2016 CANFOR CORPORATION. Forward Looking Statements CIBC Institutional Investor Conference January 2016 Alan Nicholl SVP Finance & CFO Pat Elliott Vice President
More informationBank of America Merrill Lynch Paper, Packaging & Builders Conference December 10, 2015
Bank of America Merrill Lynch Paper, Packaging & Builders Conference December 10, 2015 Notices Forward-Looking Statements & Non-IFRS Financial Information All financial references are expressed in US$
More informationCANFOR REPORTS RESULTS FOR THIRD QUARTER OF 2018
News Release FOR IMMEDIATE RELEASE CANFOR REPORTS RESULTS FOR THIRD QUARTER OF October 24, - Vancouver, B.C. - Canfor Corporation (TSX: CFP) today reported third quarter results: Highlights Solid third
More informationCanfor Corporation and Canfor Pulp Products Inc. Quarter 2, 2017 Financial Performance Overview. Presented by:
Canfor Corporation and Canfor Pulp Products Inc. Quarter 2, Financial Performance Overview Presented by: Alan Nicholl - Senior Vice President, Finance & CFO C A N F O R C O R P O R A T I O N Forward-Looking
More informationCIBC World Markets Whistler Conference
CIBC World Markets Whistler Conference February 23, 2007 Paul Richards President & CEO PAGE 1 Disclosure of Risk Factors Certain statements in this presentation constitute "forward-looking statements"
More informationCanfor Corporation and Canfor Pulp Products Inc. Quarter 3, 2017 Financial Performance Overview. Presented by:
Canfor Corporation and Canfor Pulp Products Inc. Quarter 3, Financial Performance Overview Presented by: Alan Nicholl - Senior Vice President, Finance & CFO C A N F O R C O R P O R A T I O N Forward-Looking
More informationAlan Nicholl Executive VP, Finance & Canfor Pulp Operations & CFO
Canfor Corporation and Canfor Pulp Products Inc. Quarter 1, 2018 Financial Performance Overview Presented by: Alan Nicholl Executive VP, Finance & Canfor Pulp Operations & CFO C A N F O R C O R P O R A
More informationWest Fraser Timber Co. Ltd. Consolidated Financial Statements December 31, 2017 and 2016
West Fraser Timber Co. Ltd. Consolidated Financial Statements December 31, 2017 and 2016 1 Responsibility of Management The management of West Fraser Timber Co. Ltd. ( West Fraser, we, us or our ) is responsible
More informationCANFOR PULP PRODUCTS INC. MANAGEMENT S DISCUSSION & ANALYSIS
CANFOR PULP PRODUCTS INC. MANAGEMENT S DISCUSSION & ANALYSIS MANAGEMENT S DISCUSSION AND ANALYSIS This Management s Discussion and Analysis ( MD&A ) provides a review of Canfor Pulp Products Inc. s ( CPPI
More informationInvestor Presentation
Investor Presentation November 2006 PAGE 1 Disclosure of Risk Factors Certain statements in this presentation constitute "forward-looking statements" which involve known and unknown risks, uncertainties
More informationResponsibility of Management
Responsibility of Management The management of West Fraser Timber Co. Ltd. is responsible for the preparation, integrity and objectivity of the consolidated financial statements and all related financial
More informationCONIFEX TIMBER INC. Conifex Announces First Quarter 2018 Results
CONIFEX TIMBER INC. NEWS RELEASE: via MARKETWIRE FOR IMMEDIATE RELEASE Conifex Announces First Quarter 2018 Results May 15, 2018, Vancouver, B.C. - Conifex Timber Inc. ( Conifex, "we" or "us") (TSX: CFF)
More informationInterfor Corporation Vancouver, B.C. February 7, 2019
Interfor Corporation Vancouver, B.C. February 7, 2019 Interfor Reports 2018 Results EBITDA (1) of $280 million and Net Earnings of $112 million in 2018 NCIB Purchases of 2.3 million Shares for $37 million
More informationConifex Announces Strong Fourth Quarter and Annual Results. Reports Two Consecutive Years of Record Adjusted EBITDA and Operating Income
CONIFEX TIMBER INC. NEWS RELEASE: via MARKETWIRED FOR IMMEDIATE RELEASE Conifex Announces Strong Fourth Quarter and Annual Results Reports Two Consecutive Years of Record Adjusted EBITDA and Operating
More informationAlan Nicholl Executive VP, Finance & Canfor Pulp Operations & CFO
Canfor Corporation and Canfor Pulp Products Inc. Quarter 2, Financial Performance Overview Presented by: Alan Nicholl Executive VP, Finance & Canfor Pulp Operations & CFO C A N F O R C O R P O R A T I
More informationIn this interim MD&A, all references to $ are to Canadian dollars and references to US$ are to United States dollar.
CONIFEX TIMBER INC. SECOND QUARTER 2018 MANAGEMENT S DISCUSSION AND ANALYSIS Dated as of August 9, 2018 This interim Management s Discussion and Analysis ( MD&A ) provides a review of the financial condition
More information46 CONSOLIDATED FINANCIAL STATEMENTS
2017 CANFOR CORPORATION ANNUAL REPORT IN THIS REPORT 02 MESSAGE TO SHAREHOLDERS 03 2017 Management s Discussion and Analysis 04 2017 Highlights 05 Company Overview 07 Overview of 2017 13 Overview of Consolidated
More informationCOMPANY UPDATE NOVEMBER 2017
COMPANY UPDATE NOVEMBER 2017 FORWARD-LOOKING INFORMATION This presentation contains information and statements that are forwardlooking in nature, including, but not limited to, statements containing the
More informationCanfor Corporation. Annual Information Form. Information in this Annual Information Form is as at February 11, 2011 unless otherwise indicated.
Canfor Corporation Annual Information Form Information in this Annual Information Form is as at February 11, 2011 unless otherwise indicated. TABLE OF CONTENTS Incorporation Page 2 Corporate Structure
More informationall around quality 2012 annual report
all around quality 2012 annual report 2012 Ainsworth Lumber Co. Ltd. is a leading Canadian forest products company, with a 50-year reputation for quality products and unsurpassed customer service. In Alberta,
More informationMERCER INTERNATIONAL INC. TO ACQUIRE DAISHOWA-MARUBENI INTERNATIONAL LTD. ("DMI") SIGNIFICANTLY EXPANDING ITS PULP OPERATIONS
For Immediate Release MERCER INTERNATIONAL INC. TO ACQUIRE DAISHOWA-MARUBENI INTERNATIONAL LTD. ("DMI") SIGNIFICANTLY EXPANDING ITS PULP OPERATIONS DMI owns and operates a swing NBSK and NBHK pulp mill
More information2017 QUARTER FOUR INTERIM REPORT
CANFOR CORPORATION 2017 QUARTER FOUR INTERIM REPORT FOR THE THREE MONTHS ENDED DEC 31, 2017 2 Message to Shareholders 5 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Income
More informationUnless otherwise noted, all monetary references in this MD&A are in Canadian dollars.
CONIFEX TIMBER INC. 2011 MANAGEMENT S DISCUSSION AND ANALYSIS Dated as of February 17, 2012 This Management s Discussion and Analysis ( MD&A ) provides a review of the financial performance of Conifex
More informationMERCER INTERNATIONAL INC. REPORTS STRONG 2017 THIRD QUARTER RESULTS
For Immediate Release MERCER INTERNATIONAL INC. REPORTS STRONG 2017 THIRD QUARTER RESULTS Selected Highlights Record quarterly pulp production and energy sales volumes; Higher pulp prices, sales realizations
More informationAt the same time, we re maintaining our focus on quality and customer satisfaction that we ve built our company and our reputation on.
Brothers-in-law John Prentice and L.L.G. Poldi Bentley immigrated to Canada with their families from their native Austria as war loomed over Europe. In 1938, they opened a modest veneer plant on the banks
More informationWEYERHAEUSER Doyle Simons, CEO
WEYERHAEUSER Doyle Simons, CEO Nareit REITweek: 2018 INVESTOR CONFERENCE June 5, 2018 New York, NY FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains statements and depictions
More informationLouisiana-Pacific Corporation
Louisiana-Pacific Corporation Goldman Sachs Basic Materials Conference June 3, 2009 Forward-Looking Statements This presentation contains statements concerning Louisiana- Pacific Corporation s (LP) future
More informationGoldman Sachs 2011 Paper & Forest Products Investor Event
Goldman Sachs 2011 Paper & Forest Products Investor Event Presented by: Kevin J. Clarke, President and CEO Brian Baarda, Vice-President Finance and CFO Montreal, Quebec March 16, 2011 Forward-Looking Statements
More informationConifex Announces 2016 Fourth Quarter and Annual Results. Reports Record Adjusted EBITDA and Net Income
CONIFEX TIMBER INC. NEWS RELEASE: via MARKETWIRE FOR IMMEDIATE RELEASE Conifex Announces 2016 Fourth Quarter and Annual Results Reports Record Adjusted EBITDA and Net Income February 15, 2017, Vancouver,
More informationFor Immediate Release MERCER INTERNATIONAL INC. REPORTS STRONG 2018 THIRD QUARTER RESULTS AND ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.
For Immediate Release MERCER INTERNATIONAL INC. REPORTS STRONG 2018 THIRD QUARTER RESULTS AND ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.125 Selected Highlights Third quarter net income of $41.2 million ($0.63
More informationLouisiana-Pacific Corporation
Louisiana-Pacific Corporation Investor Presentation Fall, 2013 Forward-Looking Statements This presentation contains statements concerning Louisiana- Pacific Corporation s (LP) future results and performance
More informationInterfor Corporation Vancouver, B.C. August 2, 2018
Interfor Corporation Vancouver, B.C. August 2, 2018 Interfor Reports Q2 18 Results Record EBITDA (1) of $124 million on Sales of $620 million Operating Cash Flow (1) of $1.76 per share 49% Annualized Return
More informationRaymond James Institutional Investors Conference March 6, 2018 Orlando, Florida
Raymond James Institutional Investors Conference March 6, 2018 Orlando, Florida Notices Forward-Looking Statements & Non-IFRS Financial Information All financial references are expressed in US$ unless
More informationStaying focused on our vision
Staying focused on our vision CANFOR CORPORATION ANNUAL REPORT 2007 02 Message to Shareholders 15 Sustainability Report 16 Financial Report 83 Directors and Officers 84 Map of Operations 85 Corporate and
More informationMERCER INTERNATIONAL INC. REPORTS RECORD 2018 FOURTH QUARTER AND YEAR END RESULTS AND ANNOUNCES QUARTERLY CASH DIVIDEND OF
For Immediate Release MERCER INTERNATIONAL INC. REPORTS RECORD 2018 FOURTH QUARTER AND YEAR END RESULTS AND ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.125 Selected Highlights Strong fourth quarter net income
More informationInternational Paper Co.
Equity Research Company Update November 30, 2006 Stock Rating: Sector Outperformer Sector Weighting: Underweight 12-18 mo. Price Target $37.00 IP-NYSE (11/29/06) $32.55 Key Indices: S&P 500 3-5-Yr. EPS
More informationCONIFEX TIMBER INC. FIRST QUARTER 2012
CONIFEX TIMBER INC. FIRST QUARTER 2012 MANAGEMENT S DISCUSSION AND ANALYSIS Dated as of May 18, 2012 This interim Management s Discussion and Analysis ( MD&A ) provides a review of the financial performance
More informationInvestor Presentation August 2016
Investor Presentation August 2016 Notices Forward-Looking Statements & Non-IFRS Financial Information All financial references are expressed in US$ unless otherwise noted. This presentation contains forward-looking
More informationInterfor Corporation Third Quarter Report For the three and nine months ended September 30, 2017
Interfor Corporation Third Quarter Report For the three and nine months ended September 30, 2017 Management s Discussion and Analysis This Management s Discussion and Analysis ( MD&A ) provides a review
More informationCANFOR PULP INCOME FUND CANFOR PULP LIMITED PARTNERSHIP
CANFOR PULP INCOME FUND CANFOR PULP LIMITED PARTNERSHIP Unaudited Interim Consolidated Financial Statements For the three months ended March 31, 2009 Canfor Pulp Income Fund Consolidated Statements of
More informationDriving Profitable Growth 2017 TD Forest Products Forum September 20, 2017
Driving Profitable Growth 2017 TD Forest Products Forum September 20, 2017 David K. Ure Senior Vice President, Chief Financial Officer & Secretary The Private Securities Litigation Reform Act of 1995 provides
More informationCONTENTS. 2 Message to Our Shareholders. 3 Financial Highlights. 4 Operations. 6 Management s Discussion and Analysis. 8 Canfor Pulp Products Inc.
Canfor Pulp Products Inc. Annual Report 2011 CONTENTS 2 Message to Our Shareholders 3 Financial Highlights 4 Operations 6 Management s Discussion and Analysis 8 Canfor Pulp Products Inc. 11 Risks and Uncertainties
More informationWEYERHAEUSER INVESTOR MEETINGS
WEYERHAEUSER INVESTOR MEETINGS November 2018 FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains statements and depictions that constitute forward-looking statements within
More informationIn this MD&A, all references to $ are to Canadian dollars and references to US$ are to the United States dollar.
CONIFEX TIMBER INC. 2017 MANAGEMENT S DISCUSSION AND ANALYSIS Dated as of February 15, 2018 This Management s Discussion and Analysis ( MD&A ) provides a review of the financial condition and results of
More informationCANFOR PULP PRODUCTS INC. ANNOUNCES THIRD QUARTER 2018 RESULTS AND QUARTERLY AND SPECIAL DIVIDENDS
News Release AUDIT COMMITTEE DRAFT Canfor Pulp Products Inc. FOR IMMEDIATE RELEASE CANFOR PULP PRODUCTS INC. ANNOUNCES THIRD QUARTER RESULTS AND QUARTERLY AND SPECIAL DIVIDENDS October 24, - Vancouver,
More informationWEYERHAEUSER. INVESTOR MEETINGS March 2018
WEYERHAEUSER INVESTOR MEETINGS March 2018 FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains statements and depictions that constitute forward-looking statements within
More informationwe re on a roll catalyst paper 2011 Second Quarter report
we re on a roll catalyst paper 2011 Second Quarter report COMPANY PROFILE Catalyst Paper manufactures diverse specialty printing papers, newsprint and pulp. Our customers include retailers, publishers
More informationINVESTOR PRESENTATION Q Lennart Eberleh
INVESTOR PRESENTATION Q4 2017 Lennart Eberleh 1 CONTENTS Rottneros in brief: Sustainable growth in selected niches The market Q4 and full year 2017 The way forward 2 SUSTAINABLE GROWTH IN SELECTED NICHES
More informationInterfor Corporation Second Quarter Report For the three and six months ended June 30, 2018
Interfor Corporation Second Quarter Report For the three and six months ended June 30, 2018 Management s Discussion and Analysis This Management s Discussion and Analysis ( MD&A ) provides a review of
More informationCondensed consolidated interim financial statements of. Conifex Timber Inc. June 30, 2017 (Unaudited)
Condensed consolidated interim financial statements of Conifex Timber Inc. June 30, 2017 (Unaudited) Condensed consolidated balance sheets as at As at As at June 30, December 31, (thousands of Canadian
More informationCondensed consolidated interim financial statements of. Conifex Timber Inc. September 30, 2017 (Unaudited)
Condensed consolidated interim financial statements of Conifex Timber Inc. September 30, 2017 (Unaudited) Condensed consolidated balance sheets as at As at As at September 30, December 31, (thousands of
More informationCANFOR REPORTS RESULTS FOR 2018 AND FOURTH QUARTER OF 2018
News Release 4To reflect FOR IMMEDIATE RELEASE CANFOR REPORTS RESULTS FOR 2018 AND FOURTH QUARTER OF 2018 February 21, 2019 - Vancouver, B.C. - Canfor Corporation (TSX: CFP) today reported 2018 and fourth
More informationCondensed consolidated interim financial statements of. Conifex Timber Inc. March 31, 2018 (Unaudited)
Condensed consolidated interim financial statements of Conifex Timber Inc. March 31, 2018 (Unaudited) Condensed consolidated balance sheets as at As at As at March 31, December 31, (thousands of Canadian
More informationInterfor Corporation Vancouver, B.C. November 2, 2017
Interfor Corporation Vancouver, B.C. November 2, 2017 Interfor Reports Q3 17 Results EBITDA 1 of $60.5 million (or $70.0 million excluding duties) Free Cash Flow from Operations of $57.5 Million (or $0.82
More informationLouisiana-Pacific Corporation
Louisiana-Pacific Corporation CIBC World Markets Institutional Investor Conference February 19, 2009 Forward-Looking Statements This presentation contains statements concerning Louisiana- Pacific Corporation
More informationPinnacle Renewable Holdings Inc. (TSX: PL) Investor Presentation, June 2018
Pinnacle Renewable Holdings Inc. (TSX: PL) A preliminary prospectus and an amended and restated preliminary prospectus containing important information relating to the securities described in this presentation
More informationInternational Forest Products Limited
International Forest Products Limited Vancouver, BC February 13, 2014 Interfor Reports Strong Q4 Results On Record Production and Sales EBITDA 1 totals $36.2 million in the Quarter INTERNATIONAL FOREST
More informationNorbord is a publicly traded company listed on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under the symbol OSB.
2017 ANNUAL REPORT CONTENTS 1 Financial Highlights 2 Letter to Shareholders 5 2017 Financial Table of Contents 6 Management s Discussion and Analysis 43 Consolidated Financial Statements 73 Five-Year Historical
More informationInterfor Corporation Third Quarter Report For the three and nine months ended September 30, 2016
Interfor Corporation Third Quarter Report For the three and nine months ended September 30, 2016 Management s Discussion and Analysis This Management s Discussion and Analysis ( MD&A ) provides a review
More informationCOMPANY UPDATE SEPTEMBER 2017
COMPANY UPDATE SEPTEMBER 2017 FORWARD-LOOKING INFORMATION This presentation contains information and statements that are forwardlooking in nature, including, but not limited to, statements containing the
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K È ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December
More informationBusiness Review. Presented by: Kevin J. Clarke, President and CEO Brian Baarda, Vice-President Finance and CFO. May 22, 2012 New York
Business Review Presented by: Kevin J. Clarke, President and CEO Brian Baarda, Vice-President Finance and CFO May 22, 2012 New York Forward-Looking Statements The presentation and answers to questions
More informationPinnacle Renewable Holdings Inc. (TSX: PL) Investor Presentation, May 2018
Pinnacle Renewable Holdings Inc. (TSX: PL) A preliminary prospectus and an amended and restated preliminary prospectus containing important information relating to the securities described in this presentation
More informationHARDWOODS DISTRIBUTION INCOME FUND
HARDWOODS DISTRIBUTION INCOME FUND 2006 Second Quarter Report To Unitholders The Beauty of Hardwood About the Fund Hardwoods Distribution Income Fund (the Fund ) is an unincorporated open-ended limited
More informationAugust 2014 Investor Presentation
August 2014 Investor Presentation Presented by: Joe Nemeth, President & CEO Brian Baarda, VP Finance & CFO August 14, 2014 March 6, 2013 FORWARD LOOKING STATEMENTS The presentation and answers to questions
More informationWEYERHAEUSER. Patty Bedient Executive Vice President & Chief Financial Officer
WEYERHAEUSER Patty Bedient Executive Vice President & Chief Financial Officer 1 LONGBOW RESEARCH 2013 BASIC MATERIALS CONFERENCE New York, New York March 5, 2013 FORWARD-LOOKING STATEMENT This presentation
More informationWestern Announces Third Quarter 2017 Results
800-1055 West Georgia Street Royal Centre, PO Box 11122 Vancouver, British Columbia Canada V6E 3P3 Telephone: 604-648-4500 FOR IMMEDIATE RELEASE TSX: WEF Western Announces Third Quarter 2017 Results November
More informationRESOLUTE FOREST PRODUCTS Q RESULTS RICHARD GARNEAU, PRESIDENT & CEO JO-ANN LONGWORTH, SVP & CFO
RESOLUTE FOREST PRODUCTS Q3 2017 RESULTS RICHARD GARNEAU, PRESIDENT & CEO JO-ANN LONGWORTH, SVP & CFO November 2, 2017 CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION Statements in this presentation
More informationCATALYST PAPER REPORT QUARTER
CATALYST PAPER 1 REPORT QUARTER CATALYST PAPER MANUFACTURES DIVERSE SPECIALTY MECHANICAL PRINTING PAPERS, NEWSPRINT AND PULP. Its customers include retailers, publishers and commercial printers in North
More informationInvestor Presentation. November 2017
Investor Presentation November 2017 Notices Forward-Looking Statements & Non-IFRS Financial Information All financial references are expressed in US$ unless otherwise noted. This presentation contains
More informationQ EARNINGS PRESENTATION
Q1 2014 EARNINGS PRESENTATION Presented by: Joe Nemeth, President & CEO Presented by: Kevin J. Clarke, President & CEO Brian Baarda, May 7, 2014 VP Finance & CFO Brian Baarda, VP Finance & CFO May 7, 2013
More informationWestern Capitalized on Strong Markets to Deliver the Highest Quarterly EBITDA in Company History
WESTERN FOREST PRODUCTS INC. Suite 510 700 West Georgia Street T D Tower, PO Box 10032 Vancouver, British Columbia Canada V7Y 1A1 Telephone: 604 665 6200 FOR IMMEDIATE RELEASE TSX: WEF Western Capitalized
More informationMr. Shields concluded: "We look forward to welcoming all Suwannee and Caddo River employees to the Conifex family."
CONIFEX TIMBER INC. Conifex Announces Agreement with Blue Wolf Capital Partners Resulting in Major Expansion in the Southeastern United States Agreement to Acquire Suwannee Sawmill in Florida and Caddo
More informationFREQUENTLY ASKED QUESTIONS Ministry of Forests, Lands, Natural Resource Operations and Rural Development
January 3, 2018 FREQUENTLY ASKED QUESTIONS Ministry of Forests, Lands, Natural Resource Operations and Rural Development Softwood lumber dispute Negotiation Why weren t you able to reach a new agreement
More informationInvestor Presentation. May 2017
Investor Presentation May 2017 Notices Forward-Looking Statements & Non-IFRS Financial Information All financial references are expressed in US$ unless otherwise noted. This presentation contains forward-looking
More informationBusiness Review. Presented by: Kevin J. Clarke, President and CEO Brian Baarda, Vice-President Finance and CFO. August, 2012
Business Review Presented by: Kevin J. Clarke, President and CEO Brian Baarda, Vice-President Finance and CFO August, 2012 Forward-Looking Statements The presentation and answers to questions today contain
More informationCANFOR PULP INCOME FUND CANFOR PULP LIMITED PARTNERSHIP
CANFOR PULP INCOME FUND CANFOR PULP LIMITED PARTNERSHIP Unaudited Interim Consolidated Financial Statements For the three months ended March 31, 2010 1 Canfor Pulp Income Fund Consolidated Statements of
More informationIndustry Insights Equity Research June 23, 2016
Industry Insights Equity Research June 23, 2016 Paper & Forest Products Paper & Forest Products Commodity Deck Adjustments Adding Lumber Duties to Our 2017 Estimates We Believe Valuations Already Discount
More informationWestern Announces Second Quarter 2017 Results
800-1055 West Georgia Street Royal Centre, PO Box 11122 Vancouver, British Columbia Canada V6E 3P3 Telephone: 604-648-4500 FOR IMMEDIATE RELEASE TSX: WEF Western Announces Second Quarter 2017 Results August
More information