West Fraser almost doubled Adjusted EBITDA amid 10.4% increase of sales in 1Q2017 y-o-y. According to the announcement, the company’s sales accounted for CAD 1,189 million, generating Adjusted EBITDA of CAD 245 million (20.6% margin) in the period.
Ted Seraphim, President and CEO of West Fraser, commented:
“It is regrettable that our American neighbours have chosen to renew this long-standing dispute which creates so much uncertainty for lumber market participants and threatens to undermine some of the tremendous work our two countries have undertaken to grow the markets for North American lumber. However, we are fully cooperating with the U.S. investigation as we continue to believe that the allegations of subsidy and dumping are groundless.
I want to thank all of our employees for their tremendous effort and dedication to continuously improving our safety awareness and at the same time focusing on achieving operational excellence. Our focus is not on any one quarter but on long-term results and we are certainly making progress towards achieving our goals.”
In 4Q2016 West Fraser more than doubled Adjusted EBITDA amid 9.2% increase of sales in y-o-y.
Earlier West Fraser appointed Chris Virostek as Vice-President, Finance and CFO.
About West Fraser Timber:
The company is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint. The Company has operations in western Canada and the southern United States.