Canfor Corporation · TSX:CFP
Canfor — Q2 2009 Earnings Presentation
8 slides from Canfor's earnings presentation, 2009
Slide 1: Quarter 2, 2009 Financial Performance Overview
C O R P O R A T I O N C A N F O R Quarter 2, 2009 Financial Performance Overview Presented by: Jim Shepard, President and CEO Tom Sitar, Vice President, Finance & CFO Q2 2009 PAGE 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements The presentation and answers to questions today contain forward-looking statements which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed
Slide 3: Q2 2009 Review
Q2 2009 Review Continued Depressed Housing Market and Weak Pulp Demand in Q2 U.S. housing starts essentially flat vs. Q1, at 541,000 units SAAR Lumber prices depressed as result of weak demand; Canadian sales values impacted by stronger CDN$ Western SPF 2x4 #2&Btr price of CDN$203/Mfbm, up 5
Slide 4: Q2 2009 Review: One-Time Items Impacting Earnings
Q2 2009 Review: One-Time Items Impacting Earnings Q2 2009 Q1 2009 (millions of dollars, except for per share amounts) $ $/Share $ $/Share Net income (loss), as reported $ 10.5 $ 0.07 $ (58.8) $ (0.41) Non-operating / unusual items (after-tax, net of non-controlling interests) Restructuring, mill clo
Slide 5: History of US$ Lumber Prices and U.S. Housing Starts
History of US$ Lumber Prices and U.S. Housing Starts U.S. Housing Starts SAAR Lumber Price compared to U.S. Housing Starts Western SPF 2x4 #2&Btr (Thousand Units) $US/Mfbm 2,500 $500 $450 2,000 $400 $350 1,500 $300 $250 1,000 $200 $150 500 $100 U.S. Housing Starts Lumber Price - $US $50 0 $0 2004 20
Slide 6: Sales and EBITDA Summary
Sales and EBITDA Summary Q2 Q1 (millions of dollars, except where otherwise stated) 2009 2009 Variance Gross Sales $ 541.7 $ 488.2 $ 53.5 EBITDA by Segment: Lumber $ 10.6 $ (68.8) $ 79.4 Pulp & Paper $ 5.7 $ (5.0) $ 10.7 Unallocated & Other * $ (9.0) $ (10.8) $ 1.8 Total EBITDA $ 7.3 $ (84.6) $ 91.9
Slide 7: Lumber: Q2 2009 vs. Q1 2009
Lumber: Q2 2009 vs. Q1 2009 Q2 Q1 (millions of dollars unless otherwise noted) 2009 2009 Variance Sales $ 299.2 $ 277.3 $ 21.9 EBITDA $ 10.6 $ (68.8) $ 79.4 Restructuring, mill closure and severance costs $ 9.6 $ 2.5 $ 7.1 Total inventory (recoveries) write-downs (logs and finished product) $ (43.1)
Slide 8: Pulp & Paper: Q2 2009 vs. Q1 2009
Pulp & Paper: Q2 2009 vs. Q1 2009 Q2 Q1 (millions of dollars unless otherwise noted) 2009 2009 Variance Sales $ 232.4 $ 205.3 $ 27.1 EBITDA $ 5.7 $ (5.0) $ 10.7 Average NBSK pulp list price delivered to U.S. – US$ $ 645 $ 673 $ (28) Average NBSK pulp list price delivered to U.S. – CDN$ $ 752 $ 838 $