The Europe business division of Norbord increased its sales of wood-based panels last year by 3% to 1.879bn sqft, or 1.663m m³. The corona-related turnover declines recorded in the second quarter were offset by growth during the second half of the year and increased volumes achieved through further expansion of the OSB factory. Throughout the entire year, the four European Norbord factories achieved capacity utilisation of 87%; with the completion of the next expansion phase in Inverness, the underlying total capacity rose to 2.340bn sqft or 2.070m m³.
Turnover and results figures for Norbord’s European activities developed along negative lines despite the increase in sales, due to the fact that average sales prices in the local currency declined by 9% in comparison with the preceding year. Turnover fell 5% short of the preceding year’s figure at US$470m, and EBITDA dropped by 25% to US$48m.
Norbord’s North American OSB factories sold 5.787bn sqft, or 5.121m m³ in the preceding year; this 6% decline is mainly due to corona-related production adjustments in the second quarter. Over the entire year, capacity utilisation thus deteriorated to 80%. Average sales prices, by contrast, more than doubled vis à vis the preceding year in all regions. Turnover generated in the North America business division therefore rose by 57% to US$1.937bn. EBITDA increased more than tenfold to US$805m.
