Interfor releases Q2 2020's results

In the second quarter, the company's sales amounted to CAD 396.8 million

One of the largest lumber producers in the world, North-America based Interfor Corporation recorded net earnings of CAD 3.2 million in the second quarter of 2020 compared to CAD 6.3 million in the first quarter, reports the company.

The adjusted net earnings were CAD 10.6 million in Q2 2020, compared to CAD 0.7 million in the first quarter of the year. The adjusted EBITDA was CAD 42.8 million in Q2 2020 versus CAD 36.6 million in the first quarter of the year.

In the second quarter, Interfor's sales amounted to CAD 396.8 million, set against to CAD 479.6 million in the first quarter.

The company's net debt ended the second quarter at CAD 239.1 million, or 21.6 percent of invested capital, resulting in available liquidity of CAD 496.9 million.

The total lumber production in Q2 2020 declined to 421 million board feet, down 206 million board feet quarter-over-quarter, due to operations restrains in response to the COVID-19 pandemic. The company aims to return, by the end of the second quarter, to rates typical for the period preceding the pandemic.

Also in the second quarter, Interfor's average lumber selling price increased CAD 53 from Q1 2020 to CAD 646 per mfbm.