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October 31, 2017

Norbord reports 27.6% increase in sales for 3Q/2017

Norbord reports 27.6% increase in sales for 3Q/2017

Norbord Inc., one of the main OSB producers in the world, reported sales revenues of USD 578 million in the 3Q-2017 compared to USD 453 million in the same period 2016 (+27.6%) and adjusted EBITDA of USD 200 million for the third quarter of 2017 versus USD 115 million in the third quarter of 2016 and USD 165 million in the second quarter of 2017.

The improvement is primarily due to higher North American oriented strand board (OSB) prices and shipment volumes. North American operations generated adjusted EBITDA of USD 184 million compared to USD 106 million in the same quarter last year and USD 157 million in the prior quarter. European operations delivered adjusted EBITDA of USD 14 million versus USD 10 million in the same quarter last year and USD 9 million in the prior quarter.

“Our third quarter performance continued to accelerate and we delivered our best Adjusted EBITDA result in 13 years,” said Peter Wijnbergen, Norbord’s President and CEO. “In North America, our shipment volumes increased 5% and benchmark OSB prices were 36% higher year-over-year due to already strong OSB demand that was pushed even further by the hurricanes in the US south. In Europe, our financial performance is back on track as improved panel prices outpaced the currency translation headwind from the weaker Pound Sterling and the negative impact of higher resin prices.”

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