Canfor Pulp Products Inc. (CFX.UN) 2014年年度报告「TSX」.pdf

1、Canfor pulp produCts inC.annual report 2014canfor pulp products inc.annualreport2014 2014 2013Sales and income(millions of Canadian dollars)Sales$980.5$886.8 Operating income$125.4$73.8 Net income$89.5$41.8 Per common share(Canadian dollars)Net income attributable to equity shareholders of the Compa

2、ny$1.26$0.59 Book value$6.92$6.17 Share price High$14.70$12.00 Low$9.89$8.02 Close-December 31$14.56$10.27 Financial position(millions of Canadian dollars)Working capital$179.2$101.0 Total assets$827.4$768.6 Net debt(cash)$(26.8)$47.1 Common shareholders equity$489.6$438.0Additional information2 Ret

3、urn on invested capital-consolidated 19.6%12.1%Return on common shareholders equity 19.3%10.1%Ratio of current assets to current liabilities 2.5:1 1.8:1 Ratio of net debt to capitalization -5.8%9.7%Operating income before amortization (millions of Canadian dollars)$188.1$143.7 Operating income befor

4、e amortization margin 19.2%16.2%Capital expenditures(millions of Canadian dollars)$57.7$61.2(1)Subsequent to year end,on January 30,2015,CPPI purchased from Canfor the BCTMP Taylor Pulp Mill.(2)See Definitions of Selected Financial Terms on page 57.CPPI is a leading global supplier of pulp and paper

5、 products with operations in the central interior of British Columbia(“BC”)employing approximately 1,300 people throughout the organization.Canfor Pulp owns and operates three mills in Prince George,BC with a total capacity of 1.1 million tonnes of Premium Reinforcing Northern Bleached Softwood Kraf

6、t Pulp and 140,000 tonnes of kraft paper,as well as one mill in Taylor,BC1 with an annual production capacity of 220,000 tonnes of Bleached Chemi-Thermo Mechanical Pulp(“BCTMP”).Canfor Pulp is the largest North American and one of the largest global producers of market NBSK Pulp.CPPI shares are trad