CANADA – Norbord Inc., the world’s largest OSB manufacturer, reported sales of USD 596 million in the fourth quarter of 2017 versus USD 482 million in the fourth quarter of 2016, an increase of 23.7%.

For the full year 2017, Norbord recorded sales of USD 2,177 million compared to USD 1,766 million in 2016 (+23.3%).

Adjusted EBITDA was USD 204 million for the fourth quarter of 2017 versus USD115 million in the fourth quarter of 2016. For the full year 2017, Norbord recorded an adjusted EBITDA of USD 672 million compared to USD 385 million in 2016 due to higher OSB prices in North America and volumes delivered. Operations in North America generated adjusted EBITDA of USD 638 million compared to USD 352 million in the previous year and European operations showed an adjusted EBITDA of USD 41 million, in line with the previous year.

“2017 was an exceptional year for Norbord and we obtained a record adjusted EBITDA of USD 672 million,” said Peter Wijnbergen, president and CEO of Norbord. “The construction of homes in the United States continued to improve, led by higher growth in the segment of single-family homes, driving the increase in demand and prices of OSB in North America. Our European business had another solid year due to a volume of record sales and better prices for all of our panel products in our key markets.”