Global Forest and Paper Industry: Net Earnings Summary — Three months ended June 30, 2016

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This Net Earnings Summary has been prepared by PwC based on financial statements and other sources issued by the selected companies. Earnings are reported in regional currencies, as noted.

Canada

The largest Western Canadian and Eastern Canadian based forest products companies reported overall higher net earnings in the second quarter of 2016 compared to the second quarter of 2015.  Commodity prices remained mixed in the second quarter.  Lumber prices performed well in the second quarter despite slightly lower US housing starts, but panel (OSB and plywood) prices were mixed. Softwood pulp (NBSK) prices increased, however hardwood pulp (BEK) declined in the quarter.    

Western Canada    

Western Canadian based companies posted net earnings of $206.5 million in the second quarter of 2016, compared to net earnings of $143.7 million in the first quarter of 2016 and net earnings of $3.6 million in the second quarter of 2015.

Eastern Canada

Eastern Canadian based companies posted net earnings of $47.6 million in the second quarter of 2016, compared to net earnings of $122.6 million in the first quarter of 2016 and losses of $25.2 million in the second quarter of 2015. 

United States

Nine of the largest US-based forest and paper companies reported net earnings of US $1.17 billion in the second quarter of 2016, compared to earnings of US $1.27 billion in the first quarter of 2016 and earnings of $521.4 million in the second quarter of 2015.

Europe

Ten of the largest European based forest and paper companies reported net earnings of € 649.8 million for the second quarter of 2016, compared to earnings of € 819.7 million in the first quarter of 2016 and €750.2 million reported in the second quarter of 2015.

Japan

Six of the largest forest and paper companies in Japan posted net earnings of US $231.4 million in the second quarter of 2016, compared to losses of US $16.5 million in the first quarter of 2016 and earnings of US $367.4 million in the second quarter of 2015.

Emerging Markets

In the Emerging Markets regions, five of the largest forest and paper companies reported net earnings of US 621.2 million, compared to net earnings of $753.2 million in the first quarter of 2016 and net earnings of US $485.9 million in the second quarter of 2015. 

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