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 The information posted on this section of the website was accurate at the time of posting but may have been superseded by subsequent disclosures.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
2014
4th Qtr
2013
Dec 31
2014
Dec 31
2013
Key Performance Metrics
Return on capital employed (ROCE) 7% 13% 10% 35%
Return on equity (ROE) 3% 2% 6% 35%
Cash provided by (used for) operating activities $13 $35 $29 $244
Cash provided by (used for) operating activities, per share $0.25 $0.68 $0.54 $4.78
Sales and Earnings
Sales $285 $302 $1,198 $1,343
EBITDA 15 29 90 287
Earnings 3 2 26 149
Earnings per common share
Basic $0.06 $0.04 $0.49 $2.92
Diluted $0.06 $0.04 $0.48 $2.79
Common dividends $0.51 $0.56 $2.15 $1.78
Select Balance Sheet Data
Operating working capital $65 $44 $65 $44
Total working capital 94 248 94 248
Total assets 1,104 1,262 1,104 1,262
Net debt, for financial covenant purposes 418 251 418 251
Shareholders’ equity 359 476 359 476
Shipments (MMsf-3/8″)
North America 895 887 3,511 3,339
Europe 399 375 1,663 1,567
Indicative Average OSB
Average OSB price – North Central ($/Msf-7/16″) $216 $245 $218 $315
Average OSB price – South East ($/Msf-7/16″) $181 $192 $188 $277
Average OSB price – Europe (€/m3)(1) €248 €276 €262 €273
Net debt to total capitalization
Net debt to total capitalization, market basis 26% 14% 26% 14%
Net debt to total capitalization, book basis 51% 34% 51% 34%
(1) European indicative average OSB price represents the gross delivered price to the largest Continental market.