Greenfirst Forest Products Inc · TSX:GFP
Greenfirst Forest Products — Q4 2023 Earnings Presentation
20 slides from Greenfirst Forest Products's earnings presentation, Mar 15, 2024
Slide 1: Q4/YE 2023 Investor Presentation
Q4/YE 2023 Investor Presentation March 15, 2024
Slide 2: Legal Disclaimer
Legal Disclaimer 2 This Presentation is being provided to you by GreenFirst Forest Products Inc. (“GreenFirst” or the “Company”) for informational purposes only. Cautionary Note Regarding Forward-Looking Information This Presentation includes information, statements, beliefs and opinions which are f
Slide 3: Overview
Overview Paul Rivett, Executive Chair & Director
Slide 4: Highlights
Highlights 4 § New leadership and continued re-focus of the Company § Re-aligning operational objectives with decentralization § Positive trend in lumber markets § Downward pricing pressure for paper products § Indication of pause on interest rate hikes § Proudly 100% Ontario-based
Slide 5: Lumber Pricing Random Lengths (Great Lakes)
Lumber Pricing Random Lengths (Great Lakes) 5
Slide 6: US Housing Starts Forecast
US Housing Starts Forecast 6 Source: FEA
Slide 7: Financial Summary
7 Financial Summary Ankit Kapoor, Interim CFO
Slide 8: Profit and Loss Breakdown – Q4’23
Profit and Loss Breakdown – Q4’23 8 Q4'23 QTD (in $000's) Net Sales 103,172 Cost of Sales (exclud. depreciation) (111,172) Duties (3,403) Other operating loss (883) EBITDA = (17,999) Selling, general and administrative expenses (5,713) Finance costs, net (609) Depreciation (4,497) Loss on sale of as
Slide 9: Q4’23 and FY’23 Financial Comparison
Q4’23 and FY’23 Financial Comparison 9 1Certain prior period amounts have been restated as a result of a change in presentation of the Company's Financial Statements for continuing and discontinued operations under IFRS. Please refer to Note 4 - Discontinued Operations, in the Company's Financial St
Slide 10: Operations - Lumber
10 Operations - Lumber Joel Fournier, CEO GreenFirst
Slide 11: Year in Review
Year in Review 11 § Completed sale of the Quebec sawmills and related assets for approx. $94 million § Decrease in duties rate from 20.23% to 8.05% from August 1, 2023 onwards § Pursuing the sale of the non-core Kenora land assets § Strategic and SGA reduction plans underway. To be unveiled in the s
Slide 12: Non-Core Assets
Non-Core Assets 12 The company has the following non-core land assets that can be monetized: § 1,500 acres of private lands around Kapuskasing § 1,100 acres of private lands around Timmins § 118-acre parcel of prime Lake-of-the-woods waterfront property in Kenora.
Slide 13: Long-term Trends
Long-term Trends 13 § Permanent BC interior shutdowns and steadily rising costs § Historic SPF lumber prices have averaged: § US$425 over 10 years § US$525 over 5 years § US$575 over 3 years § US$675 over 2 years § Record levels of immigration in Canada § US demographic-driven demand Source: Raymond
Slide 14: Lumber Operations
Lumber Operations 14 Quarter Year 1Certain prior period amounts have been restated as a result of a change in presentation of the Company's Financial Statements for continuing and discontinued operations under IFRS.
Slide 15: Operations - Paper
15 Operations - Paper Terry Skiffington, CEO Kap Paper
Slide 16: Paper mill Overview
Paper mill Overview 16 § Revitalized team at the paper mill with new GM and CEO § Increased focus on fundamentals of the mill § Working with all levels of government on the long-term vision § Town of Kapuskasing and Hearst outwardly showing community support § Positive EBITDA contribution in the fir
Slide 17: Papermill Operations
Papermill Operations 17 Quarter Year-to-date 1Certain prior period amounts have been restated as a result of a change in presentation of the Company's Financial Statements for continuing and discontinued operations under IFRS.
Slide 18: Sustainability
18 Sustainability Joel Fournier, CEO GreenFirst
Slide 19: Deeply Committed to Sustainability
Deeply Committed to Sustainability 19 GreenFirst is dedicated to maintaining high standards of sustainability across our business practices § Wood stores carbon and is the only renewable major building material Green § Lumber building materials require less energy to produce and transport than Advan
Slide 20: Thank You
PRODUITS FORESTIERS GREENFIRST FOREST PRODUCTS (BP GREENFIRST
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