Canfor Corp
TSX:CFP

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Canfor Corp
TSX:CFP
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Price: 11.41 CAD -1.04% Market Closed
Market Cap: 1.3B CAD

Canfor Corp
Investor Relations

In the lush, sprawling forests of British Columbia, Canfor Corp. has carved out a distinguished presence as a titan in the forestry products industry. Founded in 1938, this Canadian company has matured into a leading global supplier of sustainable wood products, priding itself on its commitment to high-quality lumber and pulp production. At the heart of Canfor's operations is its mastery in transforming raw timber into a myriad of formidable products, pivotal for construction, packaging, and numerous other industries. From its sawmills to its pulp and paper mills, Canfor employs state-of-the-art technology to ensure efficiency and environmental stewardship. As a result, it sits at the crossroads of tradition and innovation, leveraging its expertise to cater to the ever-evolving demands of global markets.

Canfor’s financial prosperity is deeply entwined with its robust international footprint and strategic operations across the US, Canada, and Europe. The company derives its revenue primarily from the sale of softwood lumber, a sought-after material for residential, commercial, and industrial construction. Additionally, its diversified product portfolio extends to the production of high-value specialty papers and bleached kraft pulp, which further cement its competitive edge. This diversification acts as a buffer against market volatility, providing the company with a stable revenue stream even amid changing economic conditions. With a firm focus on sustainability, Canfor positions itself not only as a leader in the timber industry but also as an advocate of eco-friendly business practices, influencing both industry standards and consumer preferences worldwide.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 6, 2025
AI Summary
Q3 2025

EBITDA Losses: Both the lumber and pulp businesses reported adjusted EBITDA losses of $2 million in Q3, with significant declines from the prior quarter driven by weak market conditions.

Market Challenges: Global lumber and pulp markets remain highly challenging, with excess inventories, weak demand, and high log costs, particularly in Europe where the company experienced its first negative EBITDA since acquiring Vida.

Cost Actions: Management has implemented substantial cost-saving measures, reduced working capital, and deferred some capital expenditures, especially within Canfor Pulp to manage liquidity and debt covenants.

Portfolio Diversification: The company completed a significant acquisition of three sawmills in Sweden and now has approximately 70% of its business outside Canada, reducing exposure to Canadian duties and tariffs.

Liquidity Position: Canfor maintains a strong balance sheet with $1.2 billion in available liquidity outside its pulp business, which helps navigate current turbulent markets and allows for opportunistic investments.

Outlook: Management expects market challenges to persist through the near term, with potential improvement in Europe and pulp conditions not likely until 2026. Capital allocation remains focused on integration and operational resilience.

Key Financials
Adjusted EBITDA (Lumber Business)
-$2 million
Adjusted EBITDA (Pulp Business)
-$2 million
Net Debt (Canfor Pulp)
$89 million
Available Liquidity (Canfor Pulp)
$64 million
Net Debt (Canfor, Excluding Pulp)
$247 million
Available Liquidity (Canfor, Excluding Pulp)
$1.2 billion
Capital Expenditures (Q3 Consolidated)
$40 million
Capital Expenditures (Canfor Pulp, Q3)
$4 million
Capital Expenditures Guidance (Lumber, 2025)
$240 million
Capital Expenditures Guidance (Pulp, 2025)
$45 million
Capital Expenditures Guidance (Lumber, 2026)
$175 million
Capital Expenditures Guidance (Pulp, 2026)
$35 million
Sweden Sawmill Acquisition (Total Consideration)
$171 million
Sweden Sawmill Acquisition (Cash)
$22 million
Sweden Sawmill Acquisition (Noncash Net Working Capital)
$44 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Donald B. Kayne
President, CEO & Director
No Bio Available
Mr. Patrick A. J. Elliott
CFO & Senior VP of Sustainability
No Bio Available
Mr. David M. Calabrigo
Senior VP of Corporate Development & Legal Affairs and Corporate Secretary
No Bio Available
Ms. Susan L. Yurkovich B.A., M.B.A.
Senior Vice President of Global Business Development
No Bio Available
Mr. Stephen MacKie
Executive Vice President of North American Operations
No Bio Available
Mr. Daniel Barwin
Director of Corporate Finance
No Bio Available
Jim Bogle
Vice President of Technology & Digital
No Bio Available
Ms. Michelle Ward
Vice President of Corporate Communications
No Bio Available
Mr. Kevin Pankratz
Senior Vice President of Sales & Marketing
No Bio Available
Ms. Katy Player
Senior Vice President of People
No Bio Available

Contacts

Address
BRITISH COLUMBIA
Vancouver
100-1700 75th Ave W
Contacts
+16046615241.0
www.canfor.com