Canfor reports results for 2018 and fourth quarter of 2018

Canfor Corporation (TSX: CFP) recently reported 2018 and fourth quarter of 2018 results:

2018 and Fourth Quarter Highlights

  • Reported operating income of $609 million for 2018; adjusted shareholder net income of $488 million, or $3.83 per share and a return on invested capital of 19 per cent
  • Fourth quarter adjusted operating loss of $(3) million and sales of $1.03 billion; adjusted shareholder net loss of $(28) million, or $(0.23) per share • Net debt of $156 million, or 6.2 per cent net debt to total capitalization, at December 31, 2018
  • Announced acquisition of 70% of the VIDA Group of Sweden (“VIDA”) for 3,990 million Swedish Krona (approximately CAD$580 million), adding 1.1 billion board feet annual capacity of high-quality spruce and pine products • Announced phased acquisition of Elliott Sawmilling Co., Inc. (“Elliott”) over a period of two years, for US$110 million, adding 210 million board feet of high-value Southern Yellow Pine lumber annual capacity