CANADA – Norbord Inc. reported Adjusted EBITDA of USD 273 million for the second quarter of 2018 versus USD165 million in the second quarter of 2017 and USD170 million in the first quarter of 2018.

The 65% year-over-year improvement is primarily due to higher North American oriented strand board (OSB) prices and shipment volumes, as well as higher European panel prices.

North American operations generated Adjusted EBITDA of USD 256 million compared to USD 157 million in the same quarter last year and USD 156 million in the prior quarter.

European operations delivered Adjusted EBITDA of USD 21 million versus USD 9 million in same quarter last year and USD 18 million in the prior quarter.

“Our second quarter results are the highest in the Company’s history,” said Peter Wijnbergen, Norbord’s President and CEO. “We generated USD 273 million in Adjusted EBITDA, a huge improvement over this time last year as our North American mills shipped 10% more OSB in a strong market environment. Our European business delivered USD 21 million of Adjusted EBITDA, its best result ever in local currency terms, as robust demand growth in our key markets supported strong prices.”