Canfor Corporation · TSX:CFP
Canfor — Q3 2009 Earnings Presentation
8 slides from Canfor's earnings presentation, November 2009
Slide 1: Quarter 3, 2009 Financial Performance Overview
C O R P O R A T I O N C A N F O R Quarter 3, 2009 Financial Performance Overview Presented by: Jim Shepard, President and CEO Tom Sitar, Vice President, Finance & CFO Q3 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: Q3 2009 Review
Q3 2009 Review Impact of Continued Weak U.S. Housing Market, Offset by Improved Pulp Markets U.S. housing starts remain at historically depressed levels Modest lumber price increases due to reduced supply, partly offset by strengthening CDN$ Western SPF 2x4 #2&Btr price of CDN$209/Mfbm, up 3
Slide 4: Q3 2009 Review: One-Time Items Impacting Earnings
Q3 2009 Review: One-Time Items Impacting Earnings Q3 2009 Q2 2009 (millions of dollars, except for per share amounts) $ $/Share $ $/Share Net income (loss), as reported $ (5.2) $ (0.04) $ 10.5 $ 0.07 Non-operating / unusual items (after-tax, net of non-controlling interests) Foreign exchange (gain)
Slide 5: History of CDN$ Lumber Prices and U.S. Housing Starts
History of CDN$ 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) $CDN/Mfbm 2,500 $700 $600 2,000 $500 1,500 $400 $300 1,000 $200 500 $100 U.S. Housing Starts Lumber Price - $CDN 0 $0 2004 2005 2006 200
Slide 6: Sales and EBITDA Summary
Sales and EBITDA Summary Q3 Q2 Variance (millions of dollars unless otherwise noted) 2009 2009 Gross Sales $ 540.9 $ 541.7 $ (0.8) EBITDA by segment: Lumber $ (14.6) $ 10.6 $ (25.2) Pulp & Paper $ 25.9 $ 5.7 $ 20.2 Unallocated and other * $ (4.3) $ (9.0) $ 4.7 Total EBITDA $ 7.0 $ 7.3 $ (0.3) Restru
Slide 7: Lumber: Q3 2009 vs. Q2 2009
Lumber: Q3 2009 vs. Q2 2009 Q3 Q2 Variance (millions of dollars unless otherwise noted) 2009 2009 Sales $ 301.1 $ 299.2 $ 1.9 EBITDA, as reported $ (14.6) $ 10.6 $ (25.2) Restructuring, mill closure and severance costs $ 4.5 $ 9.6 $ (5.1) Total inventory (recoveries) write-downs (logs and finished p
Slide 8: Pulp & Paper: Q3 2009 vs. Q2 2009
Pulp & Paper: Q3 2009 vs. Q2 2009 Q3 Q2 Variance (millions of dollars unless otherwise noted) 2009 2009 Sales $ 227.2 $ 232.4 $ (5.2) EBITDA, as reported $ 25.9 $ 5.7 $ 20.2 Total inventory (recoveries) write-downs (logs and finished products) $ (0.7) $ (5.5) $ 4.8 EBITDA, adjusted for above item $