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:
- Develop world class safety culture.
- Pursue growth in OSB.
- Own high-quality assets with low-cost positions.
- Maintain a margin-focused operating culture.
- Focus on growth customers.
- 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 The information posted on this section of the website was accurate at the time of posting but may have been superseded by subsequent disclosures.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|
|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|
|Earnings per common share|
|Select Balance Sheet Data|
|Operating working capital||$76||$66||$76||$66|
|Total working capital||138||314||138||314|
|Net debt, for financial covenant purposes||389||205||389||205|
|Indicative Average OSB|
|Average OSB price – North Central ($/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.|