Norbord increased EBITDA in the 3Q

Article by Martina Nöstler, translated by Susanne Höfler | 03.11.2015 - 17:20
OSB group Norbord, Toronto, recently released its 3Q report: From July to September, the group generated an EBITDA (earnings before interest, taxes, depreciation and amortization) of US-$ 30 million (€ 27.4 million). In both the 2Q and 3Q of 2014, it had been considerably less with US-$ 19 million (€ 17.4 million) each. Norbord traces this recent increase back to higher sales and cost improvements.

"Our improved financial results reflect the excellent performance of our North American and European sites", says Peter Wijnbergen, president and CEO of Norbord. An increased productivity at a lower resource utilization rate were the effects of the effected optimizations. In addition, Norbord benefitted from lower resin prices as well as a weakened Canadian dollar.

Business in Europe was "stable" in the 3Q, as Wijnbergen puts it. Sales volumes in main markets Great Britain and Germany continued to rise; this way, the lowered OSB price and the weakened euro could be compensated.