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 The information posted on this section of the website was accurate at the time of posting but may have been superseded by subsequent disclosures.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 Nine months ended
3rd Qtr
2014
3rd Qtr
2013
Sep 27
2014
Sep 28
2013
Key Performance Metrics
Return on capital employed (ROCE) 7% 21% 12% 42%
Return on equity (ROE) 5% 21% 7% 45%
Cash provided by (used for) operating activities $22 $63 $16 $209
Cash provided by (used for) operating activities, per share $0.41 $1.18 $0.30 $4.16
Sales and Earnings
Sales $302 $311 $916 $1,041
EBITDA 15 45 75 258
Earnings 5 27 23 147
Earnings per common share
Basic $0.09 $0.51 $0.43 $2.93
Diluted 0.09 0.50 0.43 2.76
Common dividends 0.56 0.56 1.65 1.15
Select Balance Sheet Data
Operating working capital $76 $66 $76 $66
Total working capital 138 314 138 314
Total assets 1,150 1,266 1,150 1,266
Net debt, for financial covenant purposes 389 205 389 205
Shareholders’ equity 399 498 399 498
Shipments (MMsf-3/8″)
North America 893 886 2,616 2,452
Europe 435 386 1,264 1,192
Indicative Average OSB
Average OSB price – North Central ($/Msf-7/16″) $216 $252 $218 $339
Average OSB price – South East ($/Msf-7/16″) $177 $207 $190 $306
Average OSB price – Europe (€/m3)(1) €258 €278 €267 €272
Net debt to total capitalization
Net debt to total capitalization, market basis 22% 12% 22% 12%
Net debt to total capitalization, book basis 48% 28% 48% 28%
(1) European indicative average OSB price represents the gross delivered price to the largest Continental market.