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Canfor makes the same amount of lumber as last year

07.09.2018 − 

Canadian Canfor made nearly the same amount of lumber as it had last year in the second quarter with total output of 1.315 bn bdft. This came after a drop of nearly 5% in lumber production during the first three months of 2018. SPF production slipped to 947.7m bdft, while SYP production increased 2.3% to 367.2m bdft.

Canfor’s Lumber division experienced a 2.2% upturn in the amount of lumber sold to 1.351bn bdft, coupled with much higher sales prices. Both of these factors paved the way for a growth of almost 21% in the division’s revenues to CAD1.063bn. Excluding the payment of CAD51.7m in punitive duties, operating income almost doubled to CAD203.4m. Higher roundwood procurement costs in western Canada contrasted with virtually unchanged roundwood prices in the south of the US during the reporting period. Logistics problems encountered when arranging heavy goods vehicles and railway freight at times in the first quarter were largely resolved during the second quarter. Delivery backlogs seen in the first three months were largely offset by mid-year.

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