Investors

Norbord’s business strategy is focused entirely on the wood panels sector – in particular OSB – in North America and Europe. Our strategy is composed of the following six key components:

  1. Develop world class safety culture.
  2. Pursue growth in OSB.
  3. Own high-quality assets with low-cost positions.
  4. Maintain a margin-focused operating culture.
  5. Focus on growth customers.
  6. Allocate capital with discipline.

Norbord is of the view that the successful execution of this strategy will provide real value for our shareholders over the cycle. The information posted on this section of the website was accurate at the time of posting but may have been superseded by subsequent disclosures.

Summary of Financial Performance

US$ millions, unless otherwise noted Three months ended Year ended
1st Qtr
2014
1st Qtr
2013
Dec 31
2013
Dec 31
2012(1)
Key Performance Metrics
Return on capital employed (ROCE) 13% 55% 35% 23%
Return on equity (ROE) 6% 60% 35% 21%
Cash provided by (used for) operating activities $(26) $45 $244 $136
Cash provided by (used for) operating activities, per share $(0.49) $1.01 $4.78 $3.12
Sales and Earnings
Sales $303 $365 $1,343 $1,149
EBITDA 27 111 287 188
Earnings 7 67 149 71
Earnings per common share
Basic $0.13 $1.51 $2.92 $1.63
Diluted $0.13 $1.26 $2.79 $1.56
Common dividends $0.54 - $1.78 -
Select Balance Sheet Data
Operating working capital $93 $101 $44 $50
Total working capital 221 259 248 178
Total assets 1,213 1,175 1,262 1,123
Net debt, for financial covenant purposes 326 285 251 315
Shareholders’ equity2 452 447 476 385
Shipments (MMsf-3/8″)
North America 817 756 3,339 3,111
Europe 434 400 1.567 1,574
Average OSB price – North Central ($/Msf-7/16″) $219 $417 $315 $271
Average OSB price – South East ($/Msf-7/16″) $193 $396 $277 $241
Average OSB price – Europe (€/m3)(2) €273 €265 €273 €260
Net debt to total capitalization, market basis 18% 21% 14% 32%
Net debt to total capitalization, book basis(2) 41% 37% 34% 43%
(1) Restated for adoption of the amendments to IAS 19.
(2) European indicative average OSB price represents the gross delivered price to the largest Continental market.