Norbord reports higher EBITDA of $75 million in 1Q 2020
Norbod,EBITDA,increase,oriented strand board,OSB,profits
Norbord Inc. reported adjusted EBITDA of $75 million for the 1Q 2020 compared to $27 million in the 4Q 2019 and $42 million in the 1Q 2019. The quarter-over-quarter increase was primarily driven by higher realised North American oriented strand board (OSB) prices and shipments while the year-over-year increase was driven by higher realised North American OSB prices and lower raw material and energy prices, partially offset by lower shipments.
North American operations generated Adjusted EBITDA of $68 million compared to $20 million in the 4Q 2019 and $23 million in the 1Q 2019, and European operations delivered Adjusted EBITDA of $10 million compared to $11 million in the 4Q 2019 and $21 million in the 1Q 2019.
Norbord's 1Q 2020 sales of $467 million decreased from $476 million in the 1Q 2019.
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 fibreboard and related value-added products.