Canfor Corporation · TSX:CFP
Canfor — Q1 2010 Earnings Presentation
8 slides from Canfor's earnings presentation, April 2010
Slide 1: Quarter 1, 2010 Financial Performance Overview
PAGE 1 Quarter 1, 2010 Financial Performance Overview Presented by: Jim Shepard, President and CEO Tom Sitar, Vice President, Finance & CFO Q1 2010 C A N F O R C O R P O R A T I O N
Slide 2: Forward-Looking Statements
PAGE 2 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
Slide 3: Q1 2010 Review
PAGE 3 Q1 2010 Review Supply Factors Contribute to Significant Lumber and Pulp Price Gains Slight improvement in U.S. housing starts to 617,000 units SAAR Lumber prices up in Q1, mostly as a result of tighter supply Western SPF 2x4 #2&Btr price of CDN$279/Mfbm, up 29% from Q4 Offshore pric
Slide 4: Q1 2010 Review: One-Time Items Impacting Earnings
PAGE 4 Q1 2010 Review: One-Time Items Impacting Earnings Q1 2010 Q4 2009 (millions of dollars, except for per share amounts) $ $/Share $ $/Share Net income (loss), as reported $ 32.5 $ (9.1) Less: Non-controlling interests $ 16.9 $ 7.9 Net income (loss) attributable to equity shareholders of the Com
Slide 5: History of CDN$ Lumber Prices and U.S. Housing Starts
PAGE 5 History of CDN$ Lumber Prices and U.S. Housing Starts U.S. Housing Starts SAAR* CDN$ Lumber Price compared to U.S. Housing Starts Western SPF #2&Btr (Thousand Units) CDN$/Mfbm 2,500 $700 $600 2,000 $500 1,500 $400 $300 1,000 $200 500 $100 0 $0 2004 2005 2006 2007 2008 2009 2010 Housing Starts
Slide 6: Sales and EBITDA Summary
PAGE 6 Sales and EBITDA Summary Q1 Q4 Variance (millions of dollars unless otherwise noted) 2010 2009 Gross Sales $ 577.9 $ 549.6 $ 28.3 EBITDA by segment: Lumber $ 34.0 $ (8.6) $ 42.6 Pulp & Paper $ 45.8 $ 29.3 $ 16.5 Unallocated and other * $ (2.0) $ (5.5) $ 3.5 Total EBITDA $ 77.8 $ 15.2 $ 62.6 I
Slide 7: Lumber: Q1 2010 vs. Q4 2009
PAGE 7 Lumber: Q1 2010 vs. Q4 2009 Q1 Q4 Variance (millions of dollars unless otherwise noted) 2010 2009 Sales $ 292.0 $ 285.3 $ 6.7 EBITDA, as reported $ 34.0 $ (8.6) $ 42.6 Total (positive) negative impact from inventory valuation adjustments (logs and finished products) $ (22.4) $ 0.1 $ (22.5) EB
Slide 8: Pulp & Paper: Q1 2010 vs. Q4 2009
PAGE 8 Pulp & Paper: Q1 2010 vs. Q4 2009 Q1 Q4 Variance (millions of dollars unless otherwise noted) 2010 2009 Sales $ 269.7 $ 253.3 $ 16.4 EBITDA, as reported $ 45.8 $ 29.3 $ 16.5 Total (positive) negative impact from inventory valuation adjustments (finished products) $ 0.2 $ 0.1 $ 0.1 EBITDA, adj