CANADA – The increase in prices and volumes shipped of OSB allowed Norbord Inc., one of the worlds largest OSB manufacturers, to reach an EBITDA of USD 383 million in 2016, more than triple the EBITDA of USD 122 million reached in 2015.
Norbord’s North American operations generated Adjusted EBITDA of USD 352 million compared to USD 95 million in the prior year and European operations delivered Adjusted EBITDA of USD 41 million versus USD 38 million in the prior year.
“2016 was an excellent year for Norbord and we more than tripled our Adjusted EBITDA over the prior year,” said Peter Wijnbergen, Norbord’s President and CEO. “US housing starts continued their steady recovery, driving increased North American OSB demand and prices. The fourth quarter of 2016 marked our eighth consecutive quarter of improved results as the seasonal slowdown in construction-related demand was less pronounced than usual. Channel inventories remain lean and demand in all our core markets remains strong, setting us up well as we enter 2017.”
In addition to OSB, Norbord manufactures particleboard, medium density fibreboard and related value-added products. Norbord has assets of approximately USD 1.8 billion and employs approximately 2,600 people at 17 plant locations in the United States, Canada and Europe. Norbord is a publicly traded company listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol “OSB”.
