TORONTO, ON, March 14, 2023 - GreenFirst Forest Products Inc. (TSX: GFP) (“GreenFirst” or the “Company”) today announced results for the fourth quarter and year ended December 31, 2022.
2022 was a difficult year for Canfor Pulp, as strong global pulp market fundamentals and near-record high pulp list prices were more than outweighed by the impact of global supply chain disruptions, fibre shortages in British Columbia ("BC") as well as operational efficiency and reliability challenges at all of the Company's pulp mills.
Mr. Juan Carlos Bueno, the Chief Executive Officer, stated: “Our solid fourth quarter operating results reflect strong pulp sales, which were however more than offset by lower sales prices, higher planned maintenance and fiber costs and the negative impact of the weaker US dollar compared to our third quarter operating results.”
"I'm proud of our team and the strong earnings and free cash flow they generated in our first full year of operations," said Jean-Michel Ribiéras."We managed supply chain, inflation and geopolitical challenges successfully while delivering outstanding results by implementing our three-pronged strategy of commercial excellence, operational excellence and financial discipline."