Slide 1: Financial Performance Overview – Quarter 4, 2024
Financial Performance Overview – Quarter 4, 2024 Canfor Corporation & Canfor Pulp Products Inc. Presented by: Pat Elliott – CFO & Corporate Secretary
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 expres
Slide 3: Q4 2024 Review: Items impacting earning comparability
Canfor Corporation. Q4 2024 Review: Items impacting earning comparability Q4 2024 Q3 2024 Millions of dollars (except for per share amounts) $ $/Share $ $/Share Shareholder net loss, as reported $ (63.3) $ (0.53) $ (350.1) $ (2.96) Non-operating items (after-tax, net of non-controlling interests) Fo
Slide 4: Sales, operating & cash earnings summary
Canfor Corporation. Sales, operating & cash earnings summary: Q4 2024 vs. Q3 2024 Q4 Q3 Millions of dollars (unless otherwise noted) Variance 2024 2024 Gross sales $ 1,285.7 $ 1,202.9 $ 82.8 Reported operating income (loss) by segment Lumber $ (36.6) $ (336.2) $ 299.6 Pulp and Paper $ 4.1 $ (209.3)
Slide 5: Countervailing & anti-dumping duty summary
Canfor Corporation. Countervailing & anti-dumping duty summary Q4 Q3 Millions of dollars Variance 2024 2024 Effective duties by quarter 1 Cash deposits paid $ 25.1 $ 15.8 $ (9.3) 2 Incremental duty expense attributable to current quarter $ 15.8 $ 17.9 $ 2.1 3 Duty expense, before prior period adjust
Slide 6: Canfor Corporation - Lumber
Canfor Corporation - Lumber. Q4 2024 vs. Q3 2024 Q4 Q3 Lumber segment operating loss of Millions of dollars (unless otherwise noted) Variance 2024 2024 $68 million1, $61 million favourable to Q3 Sales $ 1,122.6 $ 1,009.7 $ 112.9 • Supply-driven uptick in North American lumber Lumber operating loss,
Slide 7: Lumber: Cash earnings summary
Canfor Corporation - Lumber. Cash earnings summary: Q4 2024 vs. Q3 2024 Q4 Q3 Millions of dollars (unless otherwise noted) Variance 2024 2024 Lumber operating loss, as reported $ (36.6) $ (336.2) $ 299.6 1 Adjusting and one-time items - lumber segment $ (31.2) $ 207.7 $ (238.9) Lumber operating loss
Slide 8: Pulp: Canfor Pulp operating income
Canfor Pulp Products Inc. Pulp: Q4 2024 vs. Q3 2024 Q4 Q3 Canfor Pulp operating income of Millions of dollars (unless otherwise noted) Variance 2024 2024 $4 million1, $2 million favourable to Q3 Gross Sales $ 163.1 $ 193.2 $ (30.1) • Global softwood pulp market fundamentals Reported operating income
Slide 9: Appendix
Appendix.
Slide 10: Summary of adjusting and one-time items – Consolidated
Summary of adjusting and one-time items. Consolidated – Q4 2024 vs. Q3 2024 1. For the lumber segment, a $36.1 million net reversal of a Q4 2024 Q3 2024 previously recognized inventory write-down was recorded in Operating income (loss) Actual Actual Q4 2024 (Q3 2024 – $ 14.8 million net reversal of
Slide 11: Summary of adjusting and one-time items – Lumber
Summary of adjusting and one-time items. Lumber– Q4 2024 vs. Q3 2024 Q4 2024 Q3 2024 1. For the lumber segment, a $36.1 million net reversal of a Operating income (loss) previously recognized inventory write-down was recorded Actual Actual in Q4 2024 (Q3 2024 – $14.8 million net reversal of a Operat