Western Forest Products reported 9.5% increase of Adjusted EBITDA amid 4.8% decrease of revenues in 2Q2017 y-o-y. According to the announcement, the company’s sales accounted for CAD 287.4 million, generating Adjusted EBITDA of CAD 47.1 million (16.4% margin) in the period.
In January-June, the company’s net sales accounted CAD 575.1 million, generating CAD 81.1million Adjusted EBITDA (14.1% margin).
Don Demens, President and Chief Executive Officer, commented:
“We successfully targeted sales to mitigate US lumber duties and capitalize on global softwood lumber market opportunities. I’m encouraged by our positioning and the positive supply-demand market dynamics leading into the second half of the yea. We are focused on managing log supply challenges, and realizing incremental cost reductions from margin improvement initiatives and the consolidation and optimization of our operating platform.”
Earlier Western Forest Products and Huu-ay-aht First Nations completed sale and purchase of three properties in Canada.
About Western Forest Products:
Western is an integrated Canadian forest products company and the largest coastal British Columbia woodland operator and lumber producer with an annual available harvest of approximately 6.1 million cubic metres of timber of which approximately 5.9 million cubic metres is from Crown lands and lumber capacity in excess of 1.1 billion board feet from eight sawmills and two remanufacturing plants. Principal activities conducted by the Company include timber harvesting, reforestation, sawmilling logs into lumber and wood chips and value-added remanufacturing. Substantially all of Western’s operations, employees and corporate facilities are located in the coastal region of British Columbia while its products are sold in over 25 countries worldwide.