West Fraser Announces Third Quarter Results

Oct 22, 2018

Vancouver, B.C. – West Fraser Timber Co. Ltd. reports third quarter 2018 results:

Third Quarter Highlights

  • Strong operating cash flow and earnings despite lower lumber and panel prices
  • Continued progress on finished goods inventory reduction
  • Repurchased 3.5 million shares for $301 million at an average price of $85.96
  • Start up of new Opelika sawmill

Nine Month Highlights

  • The addition of six Gilman sawmills in September of 2017 as well as strong product pricing in first half 2018 contributes to 29% increase in sales and 73% increase in Adjusted EBITDA
  • Cash flow from operations of $897 million year to date
  • Two dividend increases representing an increase of 82% in the annual payout
  • Quarter ending net debt to capital ratio of 11% and available liquidity of $838 million

West Fraser shares trade on the Toronto Stock Exchange under the symbol: “WFT”.

For more information:

Chris Virostek, Vice-President, Finance and Chief Financial Officer
(604) 895-2700

www.westfraser.com