By Curtis Galbraith

Forestry

All-time high OSB prices boost earnings at Norbord

Feb 12, 2021 | 1:36 PM

Norbord is reporting earnings of $865 million for 2020, a huge jump from the $138 million reported in 2019.

These numbers are earnings before interest, taxes, depreciation and amortization (EBITDA).

In a release, the company credits higher OSB prices in North America, better productivity, and lower prices for raw materials. Those were partly offset by higher profit share costs for mills, lower shipments and more raw materials being used.

“The past year was truly remarkable in many respects for Norbord,” said former Norbord president and CEO, now president of engineered wood for West Fraser, Peter Wijnbergen.

“After adjusting our production strategy in response to the demand challenges brought about by the COVID-19 pandemic in the first half of the year, OSB demand from new home construction and repair & remodeling recovered beyond expectations and forecasts in the second half, lifting North American benchmark prices to all-time highs.

Plan Ahead

Why Would You Pre-Plan Your Funeral?

Apr 03, 2024

Dying away from home

What Happens if You Die Away From Home?

Mar 04, 2024

Flag Retiring Ceremony

What Do You Do With Worn-Out Flags?

Feb 01, 2024

“In fact, the recovery of demand was so robust that we reported back-to-back record quarterly results in the third and fourth quarters.

Norbord became a wholly-owned subsidiary of West Fraser Timber back on February 1.

Its operations include the OSB mill south of Grande Prairie.