Canfor Announces 2023 and Fourth Quarter of 2023 Results
• 2023 operating loss of $532 million; shareholder net loss of $326 million • Q4 2023 operating loss of $191 million; shareholder net loss of $117 million • Solid earnings for the Company’s European and US South operations in 2023, with persistent challenges in British Columbia • Successful execution of significant capital growth program in the US South throughout 2023 • Sustained pressure on global lumber market conditions and pricing through most of the fourth quarter, drove quarter-over-quarter decline in results in all lumber operating regions, most notably in Western Canada • Moderate uplift in global pulp market fundamentals through the fourth quarter driven by a slight increase in demand and purchasing activity in most major regions; 20% improvement in pulp production quarter-overquarter