Canfor Corporation · TSX:CFP
Canfor — Q3 2008 Earnings Presentation
9 slides from Canfor's earnings presentation, 2008
Slide 1: Quarter 3, 2008 Financial Performance Overview
C O R P O R A T I O N C A N F O R Quarter 3, 2008 Financial Performance Overview Presented by: Jim Shepard, President and CEO Tom Sitar, Vice President, Finance & CFO Q3_08 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 express
Slide 3: Q3 2008 Review
Q3 2008 Review One-Time Items Result in Q3 Net Loss of $94.2 million One-time items negatively impact earnings by $90.7 million ($0.64 per share) Adjusted Q3/08 Net Loss of $3.5 million ($0.02 per share) Improvement of $17.3 million ($0.13 per share) vs. Q2/08 Improved Operating Results in
Slide 4: Q3 2008 Review: One-Time Items Impacting Earnings
Q3 2008 Review: One-Time Items Impacting Earnings ($ millions, except per share amounts) - Unaudited Q3 2008 Q2 2008 $ $/Share $ $/Share Net income (loss), as reported $ (94.2) $ (0.66) $ 64.2 $ 0.45 Non-operating / unusual items (after-tax, net of non-controlling interests) Asset impairments (note
Slide 5: Reported and Adjusted Net Income (Loss)
Reported and Adjusted Net Income (Loss) $ Millions $100 $64.2 $50 ($40.7) ($42.8) ($45.9) ($69.6) ($60.5) ($3.5) $0 ($20.8) -$50 ($42.1) ($42.7) ($38.8) Reported and -$100 ($85.4) ($94.2) Adjusted Net Income (Loss) -$150 Reported -$200 Adjusted -$250 ($237.0) Q1.07 Q2.07 Q3.07 Q4.07 Q1.08 Q2.08 Q3.0
Slide 6: Sales and EBITDA Summary
Sales and EBITDA Summary Q3 Q2 ($ millions) - Unaudited 2008 2008 Variance Sales $ 668.0 $ 706.4 $ (38.4) EBITDA by Segment: Lumber $ 15.3 $ 46.3 $ (31.0) Panels $ (0.1) $ (7.3) $ 7.2 Pulp & Paper $ 45.1 $ 26.6 $ 18.5 Corporate $ (5.2) $ (3.3) $ (1.9) Total EBITDA $ 55.1 $ 62.3 $ (7.2) Restructuring
Slide 7: Lumber: Q3 2008 vs. Q2 2008
Lumber: Q3 2008 vs. Q2 2008 Q3 Q2 (millions of dollars unless otherwise noted) - Unaudited 2008 2008 Variance Sales $ 378.8 $ 395.3 $ (16.5) EBITDA $ 15.3 $ 46.3 $ (31.0) Restructuring, mill closure and severance costs $ 3.1 $ 11.1 $ (8.0) Total inventory write-downs (recoveries) $ 6.6 $ (70.3) $ 76
Slide 8: Panels: Q3 2008 vs. Q2 2008
Panels: Q3 2008 vs. Q2 2008 Q3 Q2 (millions of dollars unless otherwise noted) - Unaudited 2008 2008 Variance Sales $ 36.0 $ 59.9 $ (23.9) EBITDA $ (0.1) $ (7.3) $ 7.2 Restructuring, mill closure and severance costs $ 2.3 $ 22.7 $ (20.4) Total inventory write-downs (recoveries) $ (3.1) $ (18.1) $ 15
Slide 9: Pulp & Paper: Q3 2008 vs. Q2 2008
Pulp & Paper: Q3 2008 vs. Q2 2008 Q3 Q2 (millions of dollars unless otherwise noted) - Unaudited 2008 2008 Variance Sales $ 253.2 $ 251.2 $ 2.0 EBITDA $ 45.1 $ 26.6 $ 18.5 Average NBSK pulp price delivered to U.S., in Cdn$ $ 917 $ 889 $ 28 Production – pulp (000 mt) 307.8 276.2 31.6 Shipments – Canf