Business
Interfor Reports Q1'25 Results
Adjusted EBITDA of $49 million and Net Loss of $35 million BURNABY, British Columbia, May...
About this update from Interfor Corporation
[{"type":"text","content":"Interfor Reports Q1’25 Results\n\n\n\n\n\n Adjusted EBITDA of $49 million and Net Loss of $35 million\n \n\n\n\n BURNABY, British Columbia, May 08, 2025 (GLOBE NEWSWIRE) --\n \n INTERFOR CORPORATION\n \n (“Interfor” or the “Company”) (TSX: IFP) recorded a Net loss in Q1’25 of $35.1 million, or $0.68 per share, compared to a Net loss of $49.9 million, or $0.97 per share in Q4’24 and a Net loss of $72.9 million, or $1.42 per share in Q1’24.\n \n\n Adjusted EBITDA was $48.6 million on sales of $735.5 million in Q1’25 versus Adjusted EBITDA of $80.4 million on sales of $746.5 million in Q4’24 and an Adjusted EBITDA loss of $22.3 million on sales of $813.2 million in Q1’24.\n \n\n Notable items:\n \n\n\n Improved Lumber Prices\n \n\n Lumber prices increased during Q1’25 as reflected in Interfor’s average selling price of $712 per mfbm, up $53 per mfbm versus Q4’24. This improvement primarily reflects the industry-wide market-driven production curtailments in 2024, seasonal demand and tariff-related uncertainty.\n \n\n\n\n Reduced Lumber Shipments\n \n\n In Q1’25, lumber shipments totalled 863 million board feet, representing a 77 million board foot decrease over the prior quarter. The decrease primarily relates to the sale of the Quebec operations, weather-related curtailments and shipment delays resulting from tariff uncertainty.\n \n\n\n\n Stable Financial Position\n \n\n Net debt at quarter-end was $886.3 million, or 37.3% of invested capital, while available liquidity was ample at $306.0 million.\n \n\n The Company generated $40.4 million of positive operating cash flow before working capital changes in Q1’25, primarily due to higher average lumber prices. $53.6 million was invested in working capital, driven by seasonally higher log inventories and lumber shipment delays resulting from tariff uncertainty.\n \n\n\n\n Monetization of Coastal B.C. Operations\n \n\n The Company sold Coastal B.C. forest tenures totalling approximately 84,000 cubic metres of allowable annual cut (“AAC”) and related assets and liabilities for gross proceeds of $7.4 million and a gain of $6.5 million.\n \n\n Interfor held approximately 817,000 cubic metres of AAC for disposition at March 31, 2025, subject to approvals from the Mi...