CANADA – Norbord Inc., the worlds largest OSB manufacturer reported an EBITDA of USD 114 million for the third quarter of 2016 versus USD 30 million in the third quarter of 2015 and USD 94 million in the second quarter of 2016. 

The improvement versus both comparative periods is primarily due to higher North American oriented strand board (OSB) prices. North American operations generated Adjusted EBITDA of USD 106 million in the quarter compared to USD 22 million in the same quarter last year and USD 85 million in the prior quarter. European operations delivered Adjusted EBITDA of USD 10 million compared to USD 11 million in both comparative quarters.

“Our financial performance continued to improve in the third quarter as North American benchmark OSB prices strengthened further,” said Peter Wijnbergen, Norbord’s President and CEO. “Norbord generated Adjusted EBITDA of USD 114 million, marking the seventh consecutive quarter of improvement. As we enter the seasonally slower winter building period, North American benchmark OSB prices remain well above where they were this time last year as US housing starts, particularly single-family, continue to recover and drive increasing OSB demand.”