Slide 1: Quarter 4, 2023 Financial Performance Overview
Canfor Corporation and Canfor Pulp Products Inc. Quarter 4, 2023 Financial Performance Overview Presented by: Pat Elliott – CFO & SVP, Sustainability C A N F O R C O R P O R A T I O N
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 express
Slide 3: Q4 2023 Review: Items Impacting Earnings Comparability
Canfor Corporation Q4 2023 Review: Items Impacting Earnings Comparability Q4 2023 Q3 2023 (millions of dollars, except for per share amounts) $ $/Share $ $/Share Shareholder net loss, as reported $ (117.1) $ (0.98) $ (23.1) $ (0.19) Non-operating items (after-tax, net of non-controlling interests) F
Slide 4: Sales and Operating Earnings Summary
Canfor Corporation Sales and Operating Earnings Summary Q4 Q3 Variance (millions of dollars, unless otherwise noted) 2023 2023 Gross sales $ 1,282.9 $ 1,312.3 $ (29.4) Reported operating loss by segment: Lumber $ (162.2) $ (1.3) $ (160.9) Pulp and Paper $ (15.1) $ (49.3) $ 34.2 Unallocated and Other
Slide 5: Countervailing and Anti-Dumping Duty Summary
Canfor Corporation Countervailing and Anti-Dumping Duty Summary (millions of dollars) Q4 Q3 Variance Effective Duties by Quarter: 2023 2023 Cash deposits paid1 $ 10.8 $ 11.5 $ 0.7 Incremental duty expense attributable to current quarter 2 $ 32.7 $ 20.5 $ (12.2) Duty expense, as reported3 $ 43.5 $ 32
Slide 6: Lumber: Q4 2023 vs. Q3 2023
Canfor Corporation Lumber: Q4 2023 vs. Q3 2023 Q4 Q3 Variance (millions of dollars, unless otherwise noted) 2023 2023 Sales $ 1,089.0 $ 1,123.5 $ (34.5) Operating income (loss) before amortization $ (76.9) $ 84.1 $ (161.0) Operating loss, as reported $ (162.2) $ (1.3) $ (160.9) Inventory write-down
Slide 7: Pulp: Q4 2023 vs. Q3 2023
Canfor Pulp Products Inc. Pulp: Q4 2023 vs. Q3 2023 Q4 Q3 Variance (millions of dollars unless otherwise noted) 2023 2023 Gross Sales $ 193.9 $ 188.8 $ 5.1 Reported operating income (loss) by segment: Pulp $ (16.0) $ (50.8) $ 34.8 Paper $ 3.5 $ 4.4 $ (0.9) Unallocated $ (2.6) $ (2.9) $ 0.3 Total ope