Interfor Corporation · TSX:IFP
Interfor — Shareholder Meeting (May 2014)
7 slides from Interfor's shareholder meeting presentation, May 6, 2014
Slide 1: Annual General Meeting
ANNUAL GENERAL MEETING DUNCAN DAVIES PRESIDENT & CEO MAY 6, 2014 1
Slide 2: 2013 Review
2013 REVIEW • Best year since 2006. • Production up 28% to 1.7Bbf. • Sales up 19% to 1.8Bbf. • Sales revenue up 30% to $1.1B. • Net earnings $42.2M ($0.73 per share). • EBITDA $134.0M. 2
Slide 3: Strategic Positioning
STRATEGIC POSITIONING • Adams Lake and Grand Forks generating strong returns. • Four sawmills acquired in Georgia. • Tolleson acquisition increases capacity in US Southeast to 0.9Bbf. • Tenure acquisition supports increased production at Castlegar. 3
Slide 4: Financing & Balance Sheet
FINANCING & BALANCE SHEET • Credit facilities increased and extended. • $US50M in 10 year notes issued at 4.33%. • 7.2M Class A Shares issued at $12 per share. • Net debt $141M (21.5% of invested capital). • Share price up 41%. 4
Slide 5: Q1 2014 in Review
Q1 2014 IN REVIEW • Adverse weather conditions and transportation issues impacted market demand and shipments. • Net earnings $27.5M ($0.43 per share). • EBITDA $39.2M. • Results include $16.6M tax recovery and $6.9M in share-based compensation • Net debt $270M (30.7% of invested capital). • Share p
Slide 6: Outlook
OUTLOOK • Drop in US housing starts is temporary. • Market conditions should pick up as weather improves. • Markets need to digest shipping backlogs. • Focused on integrating Tolleson. • Continue to look for opportunities to build value.
Slide 7: Interfor
INTERFOR Building Value..
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