Canadian timber company West Fraser reports adjusted EBITDA of CAD 605 million (€ 388 million) in the third quarter. This is an increase of CAD 414 million (€ 266 million) compared to the second quarter and of CAD 595 million (€ 383 million) compared to the third quarter of 2019. In the first nine months, EBITDA grew by 75% compared to 2019, reaching CAD 916 million (€ 588 million).
In the third quarter, sales worth CAD 1.69 billion (€ 1.08 billion) were recorded, up by 32% compared to the second quarter. In 2019, sales amounted to CAD 1.19 billion (€ 760 million) in the same period.
West Fraser’s lumber segment generated operating earnings of CAD 454 million (€ 291 million) in the third quarter, which is an 85% increase compared to the previous quarter, and adjusted EBITDA of CAD 552 million (€ 354 million). In the second quarter, the latter amounted to only CAD 156 million (€ 100 million). This positive development is mainly the result of higher lumber prices and Southern Yellow Pine shipment volumes.
According to West Fraser, the company’s third-quarter lumber production was close to capacity compared to the second quarter where output was reduced by 400,000 m³ (170 million bft).
