From GlobeNewswire: 2025-02-13 18:18:00

Western Forest Products Inc. reported improved Q4 and fiscal 2024 results, with Adjusted EBITDA at $14.4 million in Q4 2024, compared to negative figures in 2023. Net loss was $1.2 million in Q4 2024, versus $14.3 million in 2023. Lumber production and shipments also increased in both Q4 and 2024.

The company is accelerating the transition to higher value products, with new equipment improving production and value recovery. A new continuous dry kiln is performing well, and two more are expected in 2026. The balance sheet remains strong, with liquidity at $144.6 million and a net debt to capitalization ratio of 12%.

Despite challenging markets, Western Forest Products Inc. succeeded in returning to positive EBITDA in 2024. The company focused on safety, culture enhancement, and strategic customer accounts. A new collective bargaining agreement was ratified, and asset sales were completed. Market outlook indicates expected improvements in demand and pricing for certain products in 2025.

US President Trump imposed a 25% tariff on Canadian imports, affecting the company’s operations. Despite this, Western Forest Products Inc. plans to pass on the tariff to customers. The potential impact on earnings and cash flows is unknown. The company is advocating for policies to support the forestry sector during these uncertain times.

Readers are encouraged to review the company’s 2024 Annual MD&A and financial statements for more detailed information. The company faces risks and uncertainties, including economic conditions, international trade disputes, and regulatory changes. Forward-looking statements should be interpreted with caution, as actual results may vary.

Adjusted EBITDA, net debt, and other key performance indicators are used to evaluate the company’s financial performance. These non-GAAP measures provide insights into operational results and competitiveness. A conference call is scheduled for February 14, 2025, to discuss the latest financial updates and strategies.

Western Forest Products Inc. is an integrated forest products company focusing on high-value log and lumber products in global markets. With operations in British Columbia and Washington State, the company sources timber from various channels. For more information, contact Chief Financial Officer Glen Nontell at (604) 648-4500.



Read more at GlobeNewswire:: Western Announces Fourth Quarter and Fiscal 2024 Results