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August 30, 2015 8:43 PM ET

Paper and Forest Products

Company Overview of Interfor Corporation

Company Overview

Interfor Corporation, together with its subsidiaries, produces wood products. The company offers commodity structural lumber products; and specialty products, such as exterior decking and siding products, machine stress rated products, industrial timber products, and appearance grade items. It is also involved in the purchase and sale of logs that are unsuitable for cutting or in excess of its manufacturing requirements. In addition, the company provides lumber by-products, including wood chips and other residuals. The company sells its products in Canada, the United States, China/Taiwan, Japan, and internationally. The company was formerly known as International Forest Products Limited and ...

Bentall Tower Four

Suite 3500

1055 Dunsmuir Street

PO Box 49114

Vancouver, BC V7X 1H7

Canada

Founded in 1963

2,582 Employees

Phone:

604-689-6800

Fax:

604-688-0313

Key Executives for Interfor Corporation

Chief Executive Officer, President and Director
Age: 64
Total Annual Compensation: $729.2K
Chief Financial Officer, Executive Vice President and Company Secretary
Total Annual Compensation: $489.6K
Senior Vice President of US Southeast Operations
Total Annual Compensation: $369.3K
Senior Vice President of US Northwest Operations
Age: 45
Total Annual Compensation: $345.6K
Senior Vice President of Canadian Operations
Total Annual Compensation: $247.5K
Compensation as of Fiscal Year 2014.

Interfor Corporation Key Developments

Interfor Corporation Reports Unaudited Consolidated Earnings and Production and Sales Results for the Second Quarter and Six Months Ended June 30, 2015

Interfor Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company recorded total sales of CAD 429.7 million compared to CAD 390.2 million a year ago. Operating loss was CAD 25.8 million compared to operating earnings of CAD 3.8 million a year ago. Net loss was CAD 20.6 million or CAD 0.29 per basic and diluted share compared to net earnings of CAD 7.4 million or CAD 0.11 per basic and diluted share a year ago. Adjusted net loss was CAD 14.7 million or CAD 0.21 per basic and diluted share compared to net earnings of CAD 21.1 million or CAD 0.32 per basic and diluted share a year ago. EBITDA was CAD 1.0 million compared to CAD 47.8 million a year ago. Adjusted EBITDA was CAD 12.7 million compared to CAD 47.3 million a year ago. Adjusted EBITDA margin was 3.0% compared to 12.1% a year ago. Investment on property, plant and equipment was CAD 30.5 million compared to CAD 7.5 million a year ago. The company generated CAD 2.29 million of cash flow from operations compared to CAD 45.7 million a year ago. For the six months, the company reported total sales of CAD 845.1 million compared to CAD 685.1 million a year ago. Operating loss was CAD 18.0 million compared to operating earnings of CAD 17.1 million a year ago. Net loss was CAD 20.7 million or CAD 0.30 per basic and diluted share compared to net earnings of CAD 34.9 million or CAD 0.53 per basic and diluted share a year ago. Adjusted net loss was CAD 10.2 million or CAD 0.15 per basic and diluted share compared to net earnings of CAD 36.1 million or CAD 0.55 per basic and diluted share a year ago. EBITDA was CAD 33.3 million compared to CAD 80.1 million a year ago. Adjusted EBITDA was CAD 44.5 million compared to CAD 86.5 million a year ago. Adjusted EBITDA margin was 5.3% compared to 12.6% a year ago. Net debt at June 30, 2015 was CAD 430.9 million, or 38.0% of invested capital, representing an increase of CAD 228.3 million over the level at December 31, 2014. This increase includes CAD 151.4 million of borrowings for the Simpson and Monticello acquisitions and CAD 21.0 million invested to date for the Castlegar sawmill upgrade. The Company generated CAD 25.1 million of cash flow from operations before changes in working capital in the first six months of 2015, down CAD 52.7 million over the same period of 2014. Incremental cash flow generated from increased sales was offset by reduced sales margin and increases of CAD 6.2 million and CAD 2.5 million to selling and administration costs and export taxes, respectively. Investment on property, plant and equipment was CAD 52.1 million compared to CAD 17.6 million a year ago. For the quarter, the company reported Lumber production of 672 million fbm compared to 582 million fbm a year ago. For the six months, the company reported Lumber production of 1,311 million fbm compared to 1,077 million fbm a year ago. For the quarter, the company reported Lumber sales of 719 million fbm compared to 628 million fbm a year ago. For the six months, the company reported Lumber production of 1,351 million fbm compared to 1,067 million fbm a year ago.

Interfor Corporation to Report Q2, 2015 Results on Jul 30, 2015

Interfor Corporation announced that they will report Q2, 2015 results on Jul 30, 2015

Interfor Corporation, Board Meeting, Jul 30, 2015

Interfor Corporation, Board Meeting, Jul 30, 2015.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 7, 2015
The Price Companies, Inc., Sawmill in Monticello
Private Placement
December 17, 2014
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