CANADA - Norbord Inc., one of the largest global OSB manufacturers, reported adjusted EBITDA of USD103 million for the first quarter of 2017 versus USD 61 million in the first quarter of 2016 and versus USD115 million in the fourth quarter of 2016. 

The year-over-year improvement is primarily due to higher North American OSB prices and shipment volumes, while the quarter-over-quarter decrease is due to higher resin prices and the timing of annual maintenance shuts and related costs.

North American operations generated adjusted EBITDA of USD 102 million compared to USD 53 million in the same quarter last year and USD 108 million in the prior quarter. European operations delivered Adjusted EBITDA of USD 6 million versus USD 10 million in both comparative quarters. “We are enjoying robust market conditions in North America reflecting strong growth in US housing starts that continues to drive increasing demand for OSB,” said Peter Wijnbergen, Norbord’s President and CEO. “Our first quarter Adjusted EBITDA result is a significant improvement over the first quarter of last year even though we undertook maintenance activity to ensure our mills were ready for the spring home building season that is now underway. As we enter the second quarter, demand from all our key customers is strong, supply chain inventories remain at minimal levels and benchmark prices are currently 35% higher than this time last year.”

Norbord Results 1Q

January March. Million USD