West Fraser’s FY 2018 sales were $6.118 billion, $984 million or 19% higher than in 2017. 2018 earnings were $810 million, basic EPS of $10.88 per share. Adjusted EBITDA increased year-over-year by $378 million to $1.538 billion, or 25% of sales, as the company said in the press release received by Lesprom Network.
Ted Seraphim, CEO of West Fraser stated, “In 2018 we reported the highest level of EBITDA in company history, continued deploying capital to our mills with a number of high return projects completed and maintained our balanced capital allocation strategy. We increased our dividend twice and executed $675 million of share buybacks while maintaining significant financial flexibility. Lumber markets have begun to recover in the 1Q 2019 and we remain encouraged by the long-term outlook for lumber as we focus on the activities that generate the best outcomes for all our stakeholders.”
West Fraser is a diversified wood products company producing lumber, LVL, MDF, plywood, pulp, newsprint, wood chips and energy with facilities in western Canada and the southern United States.