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Canfor (CFP) investor relations material

Canfor Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary1 Aug, 2025

Executive summary

  • Q2 2025 saw a net loss of $202.8M and an operating loss of $251.4M, driven by $188.6M in asset write-downs from permanent closure of Estill and Darlington sawmills and weak North American lumber pricing.

  • Adjusted operating loss was $50.7M, with adjusted net loss of $67.0M; European operations delivered solid earnings, offsetting North American challenges.

  • Announced acquisition of three sawmills in Central Sweden, including AB Karl Hedin Sågverk for $164M, to expand European capacity and diversify geographic footprint.

  • Balance sheet and liquidity remain strong, supporting strategic growth and resilience amid challenging market and trade conditions.

  • Sale of 50% interest in Arbios Biotech to Licella Holdings.

Financial highlights

  • Q2 2025 sales were $1,379.4M, down 3% sequentially; adjusted operating income before amortization and impairments was $51.7M.

  • Shareholder net loss was $202.8M ($1.71/share); adjusted net loss was $67.0M ($0.56/share).

  • Cash from operating activities was $63.8M, up from a $70.6M outflow in Q1.

  • Net debt to total capitalization was 12.6% at quarter-end, with available liquidity of $1,379.1M.

  • Book value per share at June 30, 2025 was $25.98.

Outlook and guidance

  • North American lumber demand expected to remain weak in Q3 2025, with gradual price improvement forecast later in the quarter.

  • Global softwood pulp markets anticipated to stay weak, with high inventories and subdued demand from China.

  • Anticipates significantly lower capital spending, with $240M projected for lumber and $45M for pulp in 2025.

  • Ongoing focus on cost management, productivity, and leveraging global diversification to mitigate trade and economic headwinds.

  • Management cautions that forward-looking statements are subject to significant risks and uncertainties.

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Frequently asked questions

Canfor Corporation is a Canada-based integrated forest products company specializing in the production of lumber, pulp, paper, and wood-based panels. The company operates sawmills and manufacturing facilities, supplying high-quality wood products for construction, remodeling, and industrial applications. Canfor serves domestic and international markets, focusing on sustainable forestry practices and renewable resource management. The company is headquartered in Vancouver, Canada, and its shares are listed on the TSX.

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