Canfor Corporation · TSX:CFP
Canfor — Q4 2009 Earnings Presentation
8 slides from Canfor's earnings presentation, February 2010
Slide 1: Quarter 4, 2009 Financial Performance Overview
C O R P O R A T I O N C A N F O R Quarter 4, 2009 Financial Performance Overview Presented by: Jim Shepard, President and CEO Tom Sitar, Vice President, Finance & CFO Q4 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: Q4 2009 Review
Q4 2009 Review Q4 Lumber Markets Were Weak, Pulp Markets Continued to Improve No improvement in U.S. housing activity, U.S. housing starts remain at very low levels Lumber prices edge up in Q4, mostly as a result of tighter supply Western SPF 2x4 #2&Btr price of CDN$216/Mfbm, up 3% from Q3
Slide 4: Q4 2009 Review: One-Time Items Impacting Earnings
Q4 2009 Review: One-Time Items Impacting Earnings SUMMARY Q4 2009 Q3 2009 (millions of dollars, except for per share amounts) $ $/Share $ $/Share Net income (loss), as reported $ (17.0) $ (0.12) $ (5.2) $ (0.04) Non-operating / unusual items (after-tax, net of non-controlling interests) Foreign exch
Slide 5: History of CDN$ Lumber Prices and U.S. Housing Starts
History of CDN$ Lumber Prices and U.S. Housing Starts CDN$ Lumber Price Compared to U.S. Housing Starts U.S. Housing Starts SAAR* 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 0 0 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 200
Slide 6: Sales and EBITDA Summary
Sales and EBITDA Summary Q4 Q3 Variance (millions of dollars unless otherwise noted) 2009 2009 Gross Sales $ 549.6 $ 540.9 $ 8.7 EBITDA by segment: Lumber $ (8.6) $ (14.6) $ 6.0 Pulp & Paper $ 29.3 $ 25.9 $ 3.4 Unallocated and other * $ (5.5) $ (4.3) $ (1.2) Total EBITDA $ 15.2 $ 7.0 $ 8.2 Restructu
Slide 7: Lumber: Q4 2009 vs. Q3 2009
Lumber: Q4 2009 vs. Q3 2009 Q4 Q3 Variance (millions of dollars unless otherwise noted) 2009 2009 Sales $ 285.3 $ 301.1 $ (15.8) EBITDA, as reported $ (8.6) $ (14.6) $ 6.0 Restructuring, mill closure and severance costs $ 4.3 $ 4.5 $ (0.2) Total inventory (recoveries) write-downs (logs and finished
Slide 8: Pulp & Paper: Q4 2009 vs. Q3 2009
Pulp & Paper: Q4 2009 vs. Q3 2009 Q4 Q3 Variance (millions of dollars unless otherwise noted) 2009 2009 Sales $ 253.3 $ 227.2 $ 26.1 EBITDA, as reported $ 29.3 $ 25.9 $ 3.4 Total inventory (recoveries) write-downs (logs and finished products) $ 0.1 $ (0.7) $ 0.8 EBITDA, adjusted for above item $ 29.