Global Forest and Paper Industry: Net Earnings Summary — Three months ended March 31, 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 first quarter of 2016 compared to both the first and fourth quarters of 2015.  Commodity prices remained mixed for the first quarter, with lumber prices, specifically Western SPF 2x4 improving while panel and pulp prices declined.          

Western Canada

Western Canadian based companies posted net earnings of $143.7 million in the first quarter of 2016, compared to net earnings of $4.4 million in the fourth quarter of 2015 and net earnings of $122.2 million in the first quarter of 2015. 

Eastern Canada

Eastern Canadian based companies posted net earnings of $122.6 million in the first quarter of 2016, compared to net losses of $372.4 million in the fourth quarter of 2015 and losses of $161.9 million in the first quarter of 2015. 

United States

Nine of the largest US-based forest and paper companies reported net earnings of US $1.27 billion in the first quarter of 2016, compared to earnings of US $417.4 million in the fourth quarter of 2015 and earnings of $1.28 billion in the first quarter of 2015.

Europe

Ten of the largest European based forest and paper companies reported net earnings of € 819.6 million for the first quarter of 2016, compared to earnings of € 1.06 billion in the fourth quarter of 2015 and €833.1 million reported in the first quarter of 2015.

Japan

Six of the largest forest and paper companies in Japan posted net losses of US $16.5 million in the first quarter of 2016, compared to earnings of US $365.5 million in the fourth quarter of 2015 and earnings of US $215.2 million in the first quarter of 2015.

Emerging Markets

In the Emerging Markets regions, five of the largest forest and paper companies reported net earnings of US $752.5 million, compared to net earnings of $575.2 million in the fourth quarter of 2016 and net losses of US $400.2 million in the fourth quarter of 2014. 

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