Norbord reports Q3 Adjusted EBITDA of US$30m

17 November 2015

Print Page

Norbord Inc has reported Adjusted EBITDA of US$30m in the Q3, 2015 compared to US$19m in both the Q2, 2015 and Q3, 2014. The increase versus the two comparative periods is primarily due to higher shipment volumes and a number of cost improvements.

"Our improved financial results reflect the excellent operational performance of our North American and European mills," said Peter Wijnbergen, Norbord's president and ceo.

"Our continued focus on controllables has generated US$24m more EBITDA year-to-date from increased productivity and lower raw materials usage," he said.

"While the recent increase in North American OSB prices is not yet visible in our financial results due to the lag effect of maintaining an order file, we will see this benefit in Q4,"added Mr Wijnbergen.

Norbord recorded an adjusted loss of US$4m in Q3, 2015 compared to an adjusted loss of US$12m in the prior quarter and US$11m in Q3, 2014. North American OSB shipments increased 2% quarter-over-quarter and year-to-date and 3% year-over-year, primarily due to increased mill productivity and fewer maintenance shuts.