Canfor Pulp Reports 2022 and Fourth Quarter of 2022 Results

Kevin Edgson, CEO, Canfor Pulp

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Commenting on the Company's 2022 and fourth quarter of 2022 results, CPPI's President and Chief Executive Officer, Kevin Edgson, said, "This was a difficult quarter to end a challenging year for Canfor Pulp. Our pulp business faced many uncontrollable challenges this year, but especially in the fourth quarter, including material fibre supply disruptions as a result of sawmill curtailments. The decision to shut down the pulp line at Prince George Pulp and Paper mill was extremely difficult, but necessary, in order to right-size our operating platform and set the Company up for a sustainable long-term future. We are working to support our employees through these transitions and regret the impact these decisions have on our employees, their families and the local community. We want to recognize our employees for their dedication and resilience as we work through these significant changes in the organization."


VANCOUVER, BCFeb. 28, 2023 - Canfor Pulp Products Inc. ("The Company" or "CPPI" or "Canfor Pulp") (TSX: CFX) today reported its 2022 and fourth quarter of 2022 results1:

Overview

  • 2022 adjusted operating loss of $59 million; adjusted net loss of $43 million, or $0.66 per share
  • Q4 2022 adjusted operating loss of $42 million; adjusted net loss of $34 million, or $0.52 per share
  • Q4 pulp production faced with fibre shortages and challenging winter weather conditions
  • After year end, announced permanent closure of pulp line at Prince George Pulp and Paper Mill to right-size operating footprint tied to long-term supply of economic residual fibre

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Source: Canfor Pulp

 

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