Business
GreenFirst Announces Profitable Fourth Quarter of 2021
GreenFirst Announces Profitable Fourth Quarter of 2021 Canada NewsWire ...
About this update from Greenfirst Forest Products Inc
[{"type":"text","content":"\n \n \n \n GreenFirst Announces Profitable Fourth Quarter of 2021\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n March 23, 2022\n \n /CNW/ - GreenFirst Forest Products Inc. (TSX: GFP) (\"GreenFirst\" or the \"Company\") filed its audited consolidated financial statements and notes for the year ended\n \n December 31, 2021\n \n (\"Financial Statements\") and the related Management Discussion and Analysis (\"MD&A\") and Annual Information Form (\"AIF\") which are available on SEDAR at\n \n www.sedar.com\n \n . All amounts are in thousands of Canadian dollars unless indicated otherwise.\n \n \n \n Fourth Quarter of 2021 Highlights\n \n \n \n \n The fourth quarter of 2021 (\"Q4 2021\") was the Company's first full quarter operating its newly acquired forest products business\n \n \n \n Q4 2021 Adjusted EBITDA of\n \n $18.4 million\n \n (see,\n \n Reconciliation of Adjusted EBITDA)\n \n \n \n Q4 2021 net earnings of\n \n $8.0 million\n \n or\n \n $0.04\n \n earning per share\n \n \n \n Lumber pricing improved in Q4 2021 and into 2022 with continued volatility expected\n \n \n Made significant strides in reducing reliance on transitional services arrangement with key hires in human resources, IT and accounting\n \n \n Asset backed revolving loan facility of\n \n $65.0 million\n \n was undrawn at\n \n December 31, 2021\n \n and has remained undrawn at\n \n March 23, 2022\n \n . Cash from operations has funded the seasonal log inventory build-up\n \n \n Invested in Boreal Carbon Corporation, an entity focused on acquiring and managing forestry projects in\n \n North America\n \n to generate carbon credits\n \n ...