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 The information posted on this section of the website was accurate at the time of posting but may have been superseded by subsequent disclosures.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
4th Qtr
2013
4th Qtr
2012(1)
Dec 31
2013
Dec 31
2012(1)
Key Performance Metrics
Return on capital employed (ROCE) 13% 33% 35% 23%
Return on equity (ROE) 2% 42% 35% 21%
Cash provided by (used for) operating activities $35 $86 $244 $136
Cash provided by (used for) operating activities, per share $0.68 $1.98 $4.78 $3.12
Sales and Earnings
Sales $302 $322 $1,343 $1,149
EBITDA 29 70 287 188
Earnings 2 38 149 71
Earnings per common share
Basic $0.04 $0.86 $2.92 $1.63
Diluted $0.04 $0.76 $2.79 $1.56
Common dividends $0.56 - $1.78 -
Select Balance Sheet Data
Operating working capital $44 $50 $44 $50
Total working capital 248 178 248 178
Total assets 1,262 1,123 1,262 1,123
Net debt, for financial covenant purposes 251 315 251 315
Shareholders’ equity2 476 385 476 385
Shipments (MMsf-3/8″)
North America 887 779 3,339 3,111
Europe 375 380 1.567 1,574
Average OSB price – North Central ($/Msf-7/16″) $245 $332 $315 $271
Average OSB price – South East ($/Msf-7/16″) $192 $296 $277 $241
Average OSB price – Europe (€/m3)(2) €276 €259 €273 €260
Net debt to total capitalization, market basis 14% 32% 14% 32%
Net debt to total capitalization, book basis(2) 34% 43% 34% 43%
(1) Figures have been restated for the adoption of the amendments to IAS 19, except where indicated.
(2) 2012 figures have not been restated for the adoption of the amendments of IAS19.
(3) European indicative average OSB price represents the gross delivered price to the largest Continental market.