Leading Canadian producer of appearance grade timber and structural wood Western Forest Products has posted a 32% boost in earnings before interest, tax, depreciation (EBITDA) and amortisation to C$62m (2010: C$47m).
Western, the world’s largest producer of Western red cedar, said sales were up to C$853.7m in 2011 (2010: C$667.9m).
The EBITDA improvement reflected increased shipments of all Western’s major products, which also include Douglas fir, yellow cedar, Sitka spruce, Western hemlock and fir.
Lumber production at the eight sawmills and four value-added facilities was 17% higher than 2010, with capacity utilisation at 83%, compared to 63% a year ago.
Western forecasts demand in its key western red cedar market – the US – to be only marginally better this year, with cedar pricing expected to remain stable.
