Canfor Reports Results for 2018 and Fourth Quarter of 2018

Feb 21, 2019

Canfor Corporation (TSX: CFP) today reported 2018 and fourth quarter of 2018 results:
2018 and Fourth Quarter Highlights

  • Reported operating income of $609 million for 2018; adjusted shareholder net income of $488 million, or $3.83 per share and a return on invested capital of 19%
  • Fourth quarter adjusted operating loss of $(3) million and sales of $1.03 billion; adjusted shareholder net loss of $(28) million, or $(0.23) per share
  • Net debt of $156 million, or 6.2% net debt to total capitalization, at December 31, 2018
  • Announced acquisition of 70% of the VIDA Group of Sweden (“VIDA”) for 3,990 million Swedish Krona (approximately CAD$580 million), adding 1.1 billion board feet annual capacity of high-quality spruce and pine products
  • Announced phased acquisition of Elliott Sawmilling Co., Inc. (“Elliott”) over a period of two years, for US$110 million, adding 210 million board feet of high-value Southern Yellow Pine lumber annual capacity

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