Global forest products sector posted stronger revenue and profits in 2010, a significant improvement over 2009

Canadian forest products sector experienced 16% revenue growth in 2010―results are mixed for 2011 

VANCOUVER, Nov. 18, 2011 /CNW/ - The world's forest, paper and packaging companies showed some recovery in their financial performance during 2010 following two previous exceptionally challenging years. Aggregate sales revenues for the largest 100 forest, paper and packaging companies increased by 9% to US$339.1 billion in 2010 from US$310.8 billion in 2009, reflecting a full year of both volume and sales price increases which began in late 2009.

The market recovery for forest and paper products also led to an improvement in net income, with the 100 largest firms posting aggregate profits of US$18.3 billion, over 3 times the 2009 profits of US$5.1 billion.

"The extent of the recovery was uneven across sectors and countries," said Bruce McIntyre, leader of PwC Canada's Forest, Paper and Packaging industry practice. "Input costs rose strongly, and export-oriented companies based in strong currency countries such as Canada did not perform as well due to continued US dollar weakness during 2010."

The annual PwC Global Forest, Paper and Packaging survey, now in its 14th year, summarizes the publicly available year-over-year financial information of the PwC Top 100―the 100 largest forest, paper and packaging companies in the world, ranked by sales revenue.

The composition of the PwC Top 100 remained relatively stable. For the second year emerging market participation in the PwC Top 100 stalled, although those represented generally moved up the list. There were 11 Canadian forest, paper and packaging companies on the 2010 PwC Top 100 list - six from the West and five from the East. Two of these 11 companies, Interfor and Western Forest Products, were new to the list in 2010.

Canadian forest, paper and packaging producers in the 2010 PwC Top 100 list recorded sales revenue growth of 16% to US$26 billion from US$22 billion in 2009, in large part due to strengthening markets. Combined net earnings for the 11 Canadian companies in the list swung from a loss of US$2.0 billion in 2009 to positive net earnings of US$3.3 billion in 2010.

McIntyre added: "The improvement trend in the forest products sector during 2010 continued into the second quarter of 2011, although weaker prices and challenging economic conditions in key markets contributed to mixed results in the third quarter."

A copy of the 2011 PwC Global Forest, Paper and Packaging Industry Survey is available for download at: http://www.pwc.com/fpp

Follow PwC on Twitter at @PwC_Canada_LLP and on Facebook at http://www.facebook.com/pwccanada.


About PwC
The firms of the PwC network provide industry-focused assurance, tax and advisory services to enhance value for clients. More than 161,000 people in 154 countries in PwC firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP, an Ontario limited liability partnership, and its related entities have more than 5,700 partners and staff in offices across the country. See www.pwc.com/ca for more information.

"PwC" is the brand under which member firms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide services. Together, these firms form the PwC network. Each firm in the network is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way.

Note to Editors: PwC changed its name from PricewaterhouseCoopers to PwC in the fall of 2010. "PwC" is written in text with a capital "P" and capital "C." Only when you use the PwC logo is the name represented in lower case.


"PwC" refers to PricewaterhouseCoopers LLP, an Ontario limited liability partnership, which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.

SOURCE PwC

For further information:

Jim Nelson
Tel.: 604 806 7047
Email: jim.nelson@ca.pwc.com 

OR: 

Kiran Chauhan
Tel.: 416 947 8983
Email: kiran.chauhan@ca.pwc.com

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