by Web Editor | Mar 12, 2018 | News
Weyerhaeuser has announced that its Wood Products division ended the fourth quarter of 2017 with much better revenues and earnings than one year earlier. Average sales prices had increased in all product segments, with the highest growth rate of almost a third reported for OSB. Sales volumes, which include amounts purchased through the Distribution division, improved for the most part. Softwood plywood (-15.9%) and MDF (-22.4%) were the only products to see lower sales. The division’s consolidated revenues thus rose 19.0% to US$1.228bn.
EBITDA adjusted for extraordinary items from OSB activities leapt to US$104m. The division as a whole saw its EBITDA adjusted for extraordinary items almost double to US$258m. As in the two previous quarters, operating income was hit by high costs for the remediation of defective I-joists and ended up at US$180m. The company created reserves of US$50m to resolve this issue in the fourth quarter. These reserves now add up to US$290m. Weyerhaeuser reported that remediation work had been completed in 99% of affected new buildings by the end of January.
From EUWID: https://www.euwid-wood-products.com/news/miscellaneous/single/Artikel/weyerhaeuser-posts-growth-from-wood-products.html
by Web Editor | Feb 7, 2018 | News
Panel producer Norbord has posted record earnings in 2017 for its worldwide business. The company also achieved record production at nine of its 15 mills, while the Inverness OSB expansion project was also completed.
Peter Wijnbergen, Norbord’s president and CEO, described 2017 as an outstanding year, with record adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of US$672m. “US housing starts continued to improve, led by stronger growth in the single-family segment, driving increased North American OSB demand and prices,” he said. “Our European business had another solid year due to record sales volumes and improved prices for all our panel products across our key markets.”
He highlighted “great momentum” moving into 2018, with demand in all its core markets remaining strong.
“Meanwhile, our European business is poised for improved earnings next year as OSB substitution for plywood drives accelerated demand growth in our core UK and German markets.”
In Europe, shipments increased 5% over the prior year, with its mills running at 99% of capacity in 2017. In local currency terms, full-year average panel prices improved 11% from 2016.
From Timber Trades Journal: https://www.ttjonline.com/news/strong-panels-markets-boost-norbord-earnings-6046604/
by Web Editor | Mar 9, 2015 | News
Norbord Ran All European Mills At Maximum Capacity In 2014
Norbord operated all of its European manufacturing sites at full steam in the 2014 financial year. The company invested in expanding and optimizing its particleboard mill in Cowie, Scotland and in two OSB mills in Inverness, Scotland and Genk, Belgium during the year.
These projects boosted its four mills’ capacity by around 170 million sqft (3/8’’ basis) or roughly 150,000 m³ to almost 1.8bn sqft or 1.6m m³ per year. Manufacturing edged 5 % higher to 1.690bn sqft or 1.495m m³. The two OSB mills and the particleboard and MDF mill in Cowie set new production records. All five locations continued operating until scheduled stoppages for maintenance and holidays.
Norbord thus said that its capacity utilization increased to 105 %. Sales were 6 % higher than in 2013 at 1.663bn sqft or 1.472m m³. Norbord improved its European revenues by almost 10 % to US$510m as a result. Higher sales volumes, increased particleboard and MDF prices as well as currency effects associated with the stronger pound Sterling against the US dollar more than made up for lower OSB prices.
Higher wage, raw material and maintenance costs also slimmed earnings. Operating income, which was expressed as adjusted EBITDA, still climbed to US$47m. The EBITDA margin weakened to 9.2 %.
From EUWID: euwid-wood-products.com
The monthly Panel World Industry Newsletter reaches over 3,000 who represent primary panel production operations.
Panel World is delivered six times per year to North American and international professionals, who represent primary panel production operations. Subscriptions are FREE to qualified individuals.
Complete the online form so we can direct you to the appropriate Sales Representative. Contact us today!
