CANADA - Norbord Inc. reported Adjusted EBITDA of USD 724 million for the full-year 2018 compared to USD 672 million in 2017 on higher realized 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 652 million compared to USD638 million in the prior year and European operations delivered Adjusted EBITDA of USD 86 million compared to USD 41 million in the prior year.

For the fourth quarter of 2018, Norbord recorded Adjusted EBITDA of USD 70 million versus USD 170 million in the fourth quarter of 2017 and USD 211 million in the third quarter of 2018. Adjusted EBITDA declined versus both comparative periods due to lower North American OSB prices and shipments.

“2018 was an excellent year for Norbord,” said Peter Wijnbergen, Norbord’s President and CEO. “Despite a disappointing fourth quarter, we delivered our best-ever Adjusted EBITDA of USD 724 million as North American OSB prices remained strong for much of the year and we shipped more product to meet increased demand. Our European business had an outstanding year, more than doubling their Adjusted EBITDA as robust demand growth in our key markets supported higher panel prices.”

Norbord Inc. is a leading global manufacturer of wood-based panels and the world’s largest producer of oriented strand board (OSB). In addition to OSB, Norbord manufactures particleboard, medium density fiberboard and related value-added products.