Better than expected results in 2Q-2020 for Norbord

CANADA - Norbord Inc., the world's largest OSB manufacturer, reported its second quarter 2020 results (2Q-2020) with adjusted EBITDA of USD 84 million, compared to USD 36 million in 2Q-2019.896NORBORD

Norbord recorded earnings of USD 18 million in the 2Q-2020, up from a loss of USD 14 million in the 2Q-2019. In the first half of 2020, Norbord recorded adjusted earnings of USD 52 million, compared to an adjusted loss of USD10 million.

Total sales in the 2Q-2020 were USD 421 million, compared to USD 447 million in the second quarter of 2019. In the first half of 2020 total sales decreased by USD 26 million or 6%. In North America, sales increased by 4% due to higher realized OSB prices, partially offset by a 12% decrease in shipment volumes. In Europe, sales were 30% lower due to lower average panel prices and a 15% decrease in shipment volumes.

In the first half of 2020 sales were USD 888 million, compared to USD 923 million in the same period last year, a decrease of USD 35 million or 4%. In North America, sales increased by 4% due to higher realized OSB prices, partially offset by a 9% decrease in shipment volumes. In Europe, sales decreased by 23% due to lower average panel prices and a 9% decrease in shipment volumes.

“The second quarter of 2020 started slowly as it overlapped with the significant pullback in economic activity that occurred during the early stages of the COVID-19 pandemic. However, we ultimately saw improving demand through the quarter that led to better than expected results. Our Adjusted EBITDA represented our best performance in seven quarters, more than doubling from year-ago levels and improving 12% from the prior quarter,” said Peter Wijnbergen, Norbord’s President & CEO. “Further, I am particularly pleased with our company’s ability to drive down costs while continuing to work safely within the strict protocols required by the pandemic.”

NORBORD 6M20 ENGL

Notifix-Logo-transparent-300px

NOTIFIX (r) is a registered trademark of Comfix S.A.S. NIT 830.067442-1.
Carrera 11 No. 82 - 38, Oficina 302, Tel. 571 312 304 6082
Bogotá, Colombia

Follow Us

Notifix-Google-icon

This website uses cookies. We use cookies to personalize content and ads and to analyze our traffic. We also share information about your use of our site with our advertising and analytics partners who may combine it with other information that you have provided to them or that they have collected from your use of their services. You consent to our cookies if you continue to use this website.