Canfor Corporation · TSX:CFP
Canfor — Q3 2020 Earnings Presentation
9 slides from Canfor's earnings presentation, Oct 23, 2020
Slide 1: Quarter 3, 2020 Financial Performance Overview
Canfor Corporation and Canfor Pulp Products Inc. Quarter 3, 2020 Financial Performance Overview Presented by: Alan Nicholl – CFO & Executive VP, Finance & Canfor Pulp Operations 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: Q3 2020 Review: Items Impacting Earnings Comparability
Canfor Corporation Q3 2020 Review: Items Impacting Earnings Comparability Q3 2020 Q2 2020 (millions of dollars, except for per share amounts) $ $/Share $ $/Share Shareholder net income, as reported $ 218.1 $ 1.74 $ 60.7 $ 0.48 Non‐operating items (after‐tax, net of non‐controlling interests) Counter
Slide 4: Sales and Operating Earnings Summary
Canfor Corporation Sales and Operating Earnings Summary Q3 Q2 Variance (millions of dollars unless otherwise noted) 2020 2020 Gross sales $ 1,550.4 $ 1,115.3 $ 435.1 Reported operating income (loss) by segment: Lumber $ 336.7 $ 107.4 $ 229.3 Pulp and Paper $ (27.6) $ (6.3) $ (21.3) Unallocated and O
Slide 5: Countervailing and Anti-Dumping Duty Summary
Canfor Corporation Countervailing and Anti-Dumping Duty Summary (millions of dollars) Q3 Q2 Variance Effective Duties by Quarter: 2020 2020 Cash deposits paid1 $ 64.2 $ 28.8 $ 35.4 Incremental duty expense (recovery), attributable to current quarter2 $ (6.3) $ 0.7 $ (7.0) 3 Effective duty expense, n
Slide 6: Lumber: Q3 2020 vs. Q2 2020
Canfor Corporation Lumber: Q3 2020 vs. Q2 2020 Q3 Q2 Variance (millions of dollars unless otherwise noted) 2020 2020 Sales $ 1,324.1 $ 864.6 $ 459.5 Operating income before amortization, as reported $ 411.0 $ 180.1 $ 230.9 Operating income, as reported $ 336.7 $ 107.4 $ 229.3 Operating income, as ad
Slide 7: Liquidity Update
Canfor Corporation Liquidity Update Available Liquidity Scheduled Maturities* (Canfor Excl. Canfor Pulp) (Canfor Excl. Vida and Canfor Pulp) $1,000 $600 $500 $800 $400 ($ millions) ($ millions) $600 $300 $400 $200 $200 $100 $‐ $‐ 2017 2018 2019 Q1 2020 Q2 2020 Q3 2020 2020 2021 2022 2023 2024 Beyond
Slide 8: Pulp: Q3 2020 vs. Q2 2020
Canfor Pulp Products Inc. Pulp: Q3 2020 vs. Q2 2020 Q3 Q2 Variance (millions of dollars unless otherwise noted) 2020 2020 Gross Sales $ 226.3 $ 250.7 $ (24.4) Reported operating income (loss) by segment: Pulp $ (29.3) $ (12.0) $ (17.3) Paper $ 5.0 $ 7.4 $ (2.4) Unallocated $ (3.3) $ (1.7) $ (1.6) To
Slide 9: Canfor Pulp Liquidity Update
Canfor Pulp Products Inc. Liquidity Update Available Liquidity Scheduled Maturities Canfor Pulp Canfor Pulp $200 $120 $100 $160 $80 ($ millions) ($ millions) $120 $60 $80 $40 $40 $20 $‐ $‐ 2017 2018 2019 Q1 2020 Q2 2020 Q3 2020 2020 2021 2022 2023 2024 Beyond Operating Loan Facility Total Cash Term