Canfor Announces 2021 and Fourth Quarter of 2021 Results

Mar 01, 2022

Canfor Corporation (“The Company” or “Canfor”) (TSX: CFP) today reported its 2021 and fourth quarter 2021 results:


  • Record-high 2021 operating income before adjusting items of $2.2 billion; adjusted shareholder net income of $1.5 billion, or $12.16 per share
  • Fourth quarter of 2021 adjusted operating income of $216 million; adjusted shareholder net income of $155 million or $1.24 per share
  • 2021 includes impairment charges totaling $294 million or $1.47 per share, resulting in reported operating income of $1.9 billion for the year, net shareholder income of $1.3 billion or $10.74 per share; fourth quarter of 2021 operating loss of $67 million, net shareholder loss of $23 million or $0.19 per share
  • Completed acquisition of Millar Western Forest Products Ltd.’s (“Millar Western”) solid wood operations and associated tenure located in Alberta, Canada, for $420 million, including an estimated $56 million in working capital, adding 630 million board feet to Canfor’s annual production capacity
  • Announced sale of Mackenzie forest tenure and sawmill assets for combined proceeds of $70 million

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