Press Release: Taiga (TBL) announces Q3 loss due to falling treated wood sales prices
Press Release: Taiga (TBL) announces Q3 loss due to falling treated wood sales prices
Taiga (TBL) announces Q3 loss due to falling treated wood sales prices
泰加(TBL)宣佈第三季度虧損，原因是經過處理的木材銷售價格下降
Canada NewsWire
加拿大新聞通訊社
BURNABY, BC, Nov. 5, 2021
卑詩省本納比，2021年11月5日
BURNABY, BC, Nov. 5, 2021 /CNW/ - Taiga Building Products Ltd. ("Taiga" or the "Company") today reported its financial results for the three and nine months ended September 30, 2021.
不列顛哥倫比省本納比，2021年11月5日/cnw/-泰加建築產品有限公司(“泰加”或“公司”)今天公佈了截至2021年9月30日的三個月和九個月的財務業績。
Third Quarter Ended September 30, 2021 Earnings Results
截至2021年9月30日的第三季度收益結果
Sales for the quarter ended September 30, 2021 were $484.6 million compared to $500.7 million over the same period last year. The decrease in sales by $16.1 million or 3% was largely due to decreased selling prices for commodity products.
截至2021年9月30日的季度銷售額為4.846億美元，而去年同期為5.07億美元。銷售額減少一千六百一十萬元，即百分之三，主要是由於商品的銷售價格下跌。
Gross margin for the quarter ended September 30, 2021 decreased to $7.6 million from $91.5 million over the same period last year. Gross margin percentage was 1.6% for the three months ended September 30, 2021 compared to 18.3% in the same period last year. These decreases were due to commodity prices falling dramatically during the quarter. Furthermore, the Company booked a $13.4 million inventory reserve due to the impact falling commodity prices had on its treated inventory values.
截至2021年9月30日的季度毛利率從上年同期的9,150萬美元降至760萬美元。截至2021年9月30日的三個月，毛利率百分比為1.6%，而去年同期為18.3%。這些下降是由於大宗商品價格在本季度大幅下跌所致。此外，由於大宗商品價格下跌對其處理後的庫存價值產生了影響，該公司計入了1340萬美元的庫存儲備。
Net earnings (loss) for the quarter ended September 30, 2021 decreased to a loss of ($5.2) million from $33.4 million over the same period last year primarily due to decreased gross margin.
截至2021年9月30日的季度，淨收益(虧損)從去年同期的3340萬美元減少到虧損520萬美元，主要原因是毛利率下降。
EBITDA for the quarter ended September 30, 2021 was ($1.8) million compared to $50.5 million for the same period last year. EBITDA decreased primarily due to lower margin earned during the quarter.
截至2021年9月30日的季度EBITDA為180萬美元，而去年同期為5050萬美元。EBITDA下降的主要原因是本季度實現的利潤率較低。
Nine Months Ended September 30, 2021 Earnings Results
截至2021年9月30日的9個月收益結果
Sales for the nine months ended September 30, 2021 were $1,807.2 million compared to $1,177.8 million over the same period last year. The increase in sales by $629.4 million or 53% was largely due to the Company experiencing higher selling prices for its commodity products at the beginning of the period before prices fell dramatically partway through the third quarter.
截至2021年9月30日的9個月的銷售額為18.072億美元，而去年同期為11.778億美元。銷售額增加了6.294億美元，增幅為53%，這主要是因為在第三季度中期價格大幅下降之前，該公司的商品產品在本季度初的銷售價格較高。
Gross margin for the nine months ended September 30, 2021 increased to $245.9 million from $164.8 million over the same period last year. Gross margin percentage decreased to 13.6% for the nine months ended September 30, 2021 compared to the same period last year at 14.0%. The increase in margin is primarily due to rising commodity prices at the beginning of the period before prices fell dramatically partway through the third quarter.
截至2021年9月30日的九個月毛利率從上年同期的1.648億美元增至2.459億美元。截至2021年9月30日的9個月，毛利率百分比降至13.6%，而去年同期為14.0%。利潤率的增加主要是由於期初大宗商品價格上漲，之後價格在第三季度中途大幅下降。
Net earnings for the nine month period ended September 30, 2021 were $82.4 million compared to $53.2 million for the same period last year.
截至2021年9月30日的9個月淨收益為8240萬美元，而去年同期為5320萬美元。
EBITDA for the nine months ended September 30, 2021 was $127.8 million compared to $87.5 million for the same period last year. EBITDA increased primarily due to higher margin earned during the current period.
截至2021年9月30日的9個月的EBITDA為1.278億美元，而去年同期為8750萬美元。EBITDA增長的主要原因是本季度實現了更高的利潤率。
Management Update on the COVID-19 Pandemic
新冠肺炎疫情管理最新進展
The outbreak of the coronavirus, also known as "COVID-19", has spread across the globe and is impacting worldwide economic activity. Conditions surrounding the coronavirus continue to rapidly evolve and government authorities have implemented emergency measures to mitigate the spread of the virus. As at the financial statement approval date, the pandemic has had a positive impact on Taiga's business and financial performance in fiscal 2020 and the first half of fiscal 2021. This is a direct result of the increased demand for detached housing, record high commodity prices and low borrowing rates experienced during the pandemic. However, commodity prices did fall dramatically during the Company's third quarter which had a material impact on its results. The extent to which these events may continue to impact the Company's business activities in the same manner in future periods will depend on a number of factors, such as the ultimate geographic spread of the disease, the duration of the outbreak, travel restrictions, the rate at which vaccines are administered, the effectiveness of vaccines against the coronavirus and its mutations, subsequent outbreaks, business disruptions, and the effectiveness of actions taken in Canada, the United States and other countries to contain and treat the disease, the demand for detached housing in North America, future commodity prices, interest rates and the strength of the general economy. These events are highly uncertain and as such, the Company cannot predict with any certainty how the progression of the coronavirus pandemic and these events will ultimately impact the Company's financial performance in 2021.
冠狀病毒的爆發，也被稱為“新冠肺炎”，已經在全球範圍內蔓延，並正在影響全球的經濟活動。冠狀病毒周圍的情況繼續迅速演變，政府當局已實施緊急措施，以減緩病毒的傳播。截至財務報表核準日，疫情對泰加2020財年和2021財年上半年的業務和財務表現產生了積極影響。這是對獨立住房需求增加、商品價格創紀錄高位以及大流行期間經歷的低借款利率的直接結果。然而，大宗商品價格在該公司第三季度確實大幅下跌，這對其業績產生了重大影響。這些事件在未來一段時間內可能繼續以同樣的方式影響公司的業務活動的程度將取決於一系列因素，例如疾病的最終地理傳播、疫情爆發的持續時間、旅行限制、接種疫苗的速度、針對冠狀病毒及其變異的疫苗的有效性、隨後的爆發、業務中斷以及加拿大、美國和其他國家為控制和治療疾病而採取的行動的有效性、北美對獨立住房的需求、未來的商品價格、利率和實力。這些事件具有很高的不確定性，因此，公司無法確定地預測冠狀病毒大流行的發展以及這些事件最終將如何影響公司2021年的財務業績。
Condensed Consolidated Statement of Earnings
簡明合併收益表
For the Three Months Ended
在截至的三個月內
September 30,
(in thousands of Canadian dollars, except for per 2021 2020
share amounts)
Sales 484,563 500,667
Gross margin 7,646 91,515
Distribution expense 6,834 6,766
Selling and administration expense 5,399 36,898
Finance expense 1,855 1,910
Subordinated debt interest expense 218 218
Canada Emergency Wage Subsidy - (17)
Other (income) expense 12 174
Earnings (loss) before income taxes (6,672) 45,566
Income tax expense (recovery) (1,432) 12,136
Net earnings (loss) (5,240) 33,430
Net earnings (loss) per share(1) (0.05) 0.31
EBITDA(2) (1,841) 50,489
The following is the reconciliation of net earnings September 30,
to EBITDA:
(in thousands of Canadian dollars) 2021 2020
Net earnings (loss) (5,240) 33,430
Income tax expense (recovery) (1,432) 12,136
Finance and subordinated debt interest expense 2,073 2,128
Amortization 2,758 2,795
EBITDA (1,841) 50,489
9月30日，(以千加元為單位，2021年至2020年除外股份金額)銷售額484,563 500,667毛利率7,646，91,515分配費用6,834,766銷售和管理費用5399 36898財務費用1,855 1,910次級債務利息支出218加拿大緊急工資補貼--(17)其他(收入)支出12 174所得税前收益(虧損)(6672)45566所得税支出(追回)(1,432)12,136淨收益(虧損)(5,240)33,430每股淨收益(虧損)(1)(0.05)0.31EBITDA(2)(1,841)50,489以下是9月30日淨收益的對賬單。至EBITDA：(單位：千加元)2021年2020年淨收益(虧損)(5,240)33,430所得税支出(追回)(1,432)12,136財務和次級債務利息支出2,073,128攤銷2758 2795EBITDA(1,841)50,489
For the Nine Months Ended
在過去的9個月裏
September 30,
(in thousands of Canadian dollars, except for per 2021 2020
share amounts)
Sales 1,807,213 1,177,840
Gross margin 245,907 164,809
Distribution expense 20,708 19,404
Selling and administration expense 105,493 69,046
Finance expense 5,795 6,393
Subordinated debt interest expense 656 656
Canada Emergency Wage Subsidy - (2,919)
Other income 302 91
Earnings before income taxes 112,953 72,138
Income tax expense 30,549 18,947
Net earnings 82,404 53,191
Net earnings per share(1) 0.76 0.48
EBITDA(2) 127,756 87,494
The following is the reconciliation of net earnings September 30,
to EBITDA:
(in thousands of Canadian dollars) 2021 2020
Net earnings 82,404 53,191
Income tax expense 30,549 18,947
Finance and subordinated debt interest expense 6,451 7,049
Amortization 8,352 8,307
EBITDA 127,756 87,494
Notes:
(1) Earnings per share is calculated using the weighted
average number of shares.
(2) Reference is made above to EBITDA, which represents
earnings before interest, taxes, and amortization.
As there is no generally accepted method of calculating
EBITDA, the measure as calculated by Taiga might not
be comparable to similarly titled measures reported
by other issuers. EBITDA is presented as management
believes it is a useful indicator of a company's ability
to meet debt service and capital expenditure requirements
and because management interprets trends in EBITDA
as an indicator of relative operating performance.
EBITDA should not be considered by an investor as
an alternative to net income or cash flows as determined
in accordance with IFRS. For the disclosure of the
manner in which EBITDA is calculated and reconciliation
to net earnings refer to the "EBITDA" section of the
Company's management's discussion and analysis which
will be available shortly on SEDAR at www.sedar.com.
9月30日，(以千加元為單位，2021年至2020年除外股份金額)銷售額1,807,213 1,177,840毛利率245,907 164,809分配費用20,708 19,404銷售和管理費用105,493 69,046財務費用5795 6393次級債務利息支出656 656加拿大緊急工資補貼--(2919)其他收入302 91所得税前收益112,953 72,138所得税支出30,549 18,947淨收益82,404，53,191每股淨收益(1)0.76 0.48EBITDA(2)127,756 87,494以下是9月30日淨收益的對賬單。至EBITDA：(單位：千加元)2021年2020年淨收益82,404，53,191所得税支出30,549 18,947財務和次級債務利息支出6,4517,049攤銷8,352 8,307EBITDA 127,756 87,494備註：(1)每股收益按加權計算平均股數。(2)以上參考EBITDA，它代表扣除利息、税項和攤銷前的收益。因為沒有公認的計算方法EBITDA，Taiga計算的度量可能不會可與報告的類似標題的措施相媲美由其他發行人發行。EBITDA顯示為管理認為這是衡量一家公司能力的有用指標滿足還本付息和資本支出要求因為管理層解讀EBITDA的趨勢作為相對經營業績的指標。投資者不應將EBITDA視為確定的淨收入或現金流的替代方案根據“國際財務報告準則”。為披露EBITDA的計算方式和對賬要獲得淨收益，請參閲“扣除利息、折舊及攤銷前利潤(EBITDA)”部分。公司管理層的討論與分析不久將在SEDAR上推出，網址為www.sedar.com。
The foregoing selected financial information is qualified in its entirety by and should be read in conjunction with, our unaudited condensed interim consolidated financial statements for three and nine months ended September 30, 2021 and accompanying notes and management's discussion and analysis which will be available shortly on SEDAR at www.sedar.com.
上述選定的財務信息是完整的，應與我們截至2021年9月30日的三個月和九個月的未經審計的簡明中期綜合財務報表以及附註和管理層的討論和分析一起閲讀，這些討論和分析不久將在SEDAR上公佈，網址為www.sedar.com。
SOURCE Taiga Building Products Ltd.
資料來源：泰加建築製品有限公司。
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2021/05/c9970.html
觀看原創內容下載多媒體：http://www.newswire.ca/en/releases/archive/November2021/05/c9970.html
/CONTACT:
/聯繫方式：
For further information regarding Taiga, please contact: Mark Schneidereit-Hsu, CFO and VP, Finance & Administration, Tel: 604.438.1471, Email: mschneidereit@taigabuilding.com
欲瞭解有關TAIGA的更多信息，請聯繫：財務總監兼財務與行政副總裁Mark Schneidereit-Hsu，電話：604.438.1471，電子郵件：mschneidereit@taigabuilding.com
/Web site: http://www.taigabuilding.com/
網址：http://www.taigabuilding.com/
Copyright CNW Group 2021
版權所有CNW集團2021
譯文內容由第三人軟體翻譯。