Interfor\u2019s higher prices fail to prevent a quarterly earnings decline<\/strong><\/p>\nInterfor sold approximately 2.24 million m\u00b3 of lumber, up 2.6% year on year and 0.7% from the second quarter. Its average gross selling price reached the equivalent of C$318\/m\u00b3 (\u20ac202), an increase of 21.5% annually and 1.6% sequentially.<\/p>\n
Adjusted EBITDA fell from C$92.3 million to C$76.9 million, while the reported margin narrowed from 11.5% to 9.2%. Both sales volumes and average prices improved from the preceding quarter, but earnings declined.<\/p>\n
Interfor\u2019s price measure includes duties, tariffs and freight. It should therefore be compared with the company\u2019s own historical series rather than treated as an ex-mill quotation.<\/p>\n
The annual earnings comparison was also affected by the C$156.7 million non-cash duty charge included in the third quarter of 2025. That charge accounted for a large part of the C$183.8 million adjusted EBITDA loss reported for the period.<\/p>\n
The sequential result gives a less favorable account of recent trading than the annual recovery. Interfor entered the third quarter with positive earnings, achieved modest gains in volumes and gross prices, and still finished with a smaller margin.<\/p>\n
West Fraser faces different markets for SPF and southern yellow pine<\/strong><\/p>\nWest Fraser\u2019s lumber shipments totaled approximately 2.98 million m\u00b3, down 3.1% year on year and 2.0% from the second quarter. Lumber adjusted EBITDA declined sequentially from US$41 million to US$34 million (\u20ac30.4 million).<\/p>\n
The latest result included a favorable US$12 million duty adjustment. The lumber segment recorded an operating loss of US$17 million after depreciation and other operating charges.<\/p>\n
Prices moved in different directions across the portfolio. Spruce-pine-fir realizations improved from the second quarter, while southern yellow pine realizations weakened. A stronger market for one product group was insufficient to offset the weaker performance elsewhere.<\/p>\n
Costs remained a further constraint. West Fraser estimated that diesel inflation since the beginning of the year had added approximately US$6.4\/m\u00b3 to lumber costs. Customer freight surcharges recovered part of the increased transport expense, but did not remove the pressure on production and logistics.<\/p>\n
Species, product dimensions and mill location can produce very different financial results within the same company. A consolidated lumber price conceals those differences, particularly when demand and inventories develop unevenly across regional markets.<\/p>\n
Canfor\u2019s European growth includes acquired capacity<\/strong><\/p>\nCanfor shipped approximately 3.03 million m\u00b3 of lumber, up 5.3% year on year but down 5.0% from the second quarter. Lumber adjusted EBITDA fell from C$144.7 million to C$107.9 million (\u20ac68.4 million), despite improved realizations across its operating regions.<\/p>\n
Lower European shipments and seasonal production downtime reduced earnings. European deliveries reached approximately 944,000 m\u00b3, down from the second quarter but 13.6% above the year-earlier level.<\/p>\n
The annual volume increase primarily came from the contribution of the acquired Hedin mills. European adjusted EBITDA was C$19.8 million (\u20ac12.5 million), compared with C$36.9 million in the second quarter.<\/p>\n
Canfor also achieved better realizations for certain wider lumber dimensions even where standard southern yellow pine benchmarks declined. Its actual sales mix provided some protection against weaker benchmark prices.<\/p>\n
Acquired mills increase a company\u2019s reported deliveries without necessarily increasing market consumption. Canfor\u2019s European shipment growth therefore cannot be read as a comparable increase in customer demand. The business operated a larger portfolio than a year earlier, while still experiencing the seasonal reduction in activity during the third quarter.<\/p>\n
For suppliers assessing competition, the acquired capacity remains commercially relevant: it changes the scale and reach of the company selling the lumber. For an assessment of demand, however, the additional volumes need to be separated from growth within the existing mill network.<\/p>\n
Cheaper logs help SCA recover part of its margin<\/strong><\/p>\nSCA delivered 489,000 m\u00b3 of solid wood products, down 8.1% from a year earlier. Wood EBITDA fell from SEK232 million to SEK117 million (\u20ac10.6 million), as higher raw-material and distribution costs, together with lower deliveries, outweighed slightly higher annual selling prices.<\/p>\n
Against the second quarter, EBITDA increased by 31% from SEK89 million. Lower raw-material costs drove the improvement, while selling prices declined slightly. The Wood EBITDA margin recovered to 8.1%, although it remained well below the 15.0% recorded a year earlier.<\/p>\n
The sequential price decline partly resulted from a greater proportion of lower-quality, wind-felled timber in the sales mix. SCA also reported stronger demand for spruce than pine, with producer inventories high for pine and normal for spruce.<\/p>\n
The earnings improvement came through procurement costs rather than stronger selling prices. SCA retained more of its revenue because raw materials became less expensive, despite selling a smaller volume than in the preceding quarter.<\/p>\n
The difference between spruce and pine also limits the usefulness of a single European softwood price. Mills selling into a better-balanced spruce market can face different order conditions from those competing to move pine from higher inventories. Quality and specifications further affect the price a producer can achieve.<\/p>\n
Holmen reduces losses without a selling-price increase<\/strong><\/p>\nHolmen\u2019s Wood Products deliveries declined 15.4% year on year to 269,000 m\u00b3. Deliveries also fell seasonally from the second quarter, while production curtailments constrained volumes.<\/p>\n
Selling prices were unchanged sequentially. Lower log costs and production improvements nevertheless reduced the operating loss from SEK55 million to SEK23 million (\u20ac2.1 million). EBITDA returned to a positive SEK29 million (\u20ac2.6 million), compared with negative SEK3 million in the second quarter.<\/p>\n
Holmen improved its result while shipping less lumber. Purchasing costs and production performance provided relief that the sales market had not delivered.<\/p>\n
The business remained loss-making after depreciation. Positive EBITDA covered only part of the financial requirements of the industrial operation; the mills had yet to generate an operating profit.<\/p>\n
For producers carrying large investments in modern sawmills, that gap remains important. Higher efficiency can reduce the cost of processing each cubic metre, but the assets still require maintenance and must earn a return over their operating life. A period of positive EBITDA does not by itself establish that those investments are generating an adequate return.<\/p>\n
S\u00f6dra\u2019s sawmill losses deepen<\/strong><\/p>\nS\u00f6dra\u2019s sawn-timber deliveries fell 7.9% year on year to 385,000 m\u00b3. Production declined to 306,000 m\u00b3 from 354,000 m\u00b3, a reduction of approximately 14%.<\/p>\n
Lower market prices, higher raw-material costs and reduced deliveries pushed the Wood operating loss to SEK256 million (\u20ac23.3 million), compared with SEK103 million a year earlier. Wood EBITDA was negative SEK187 million (\u20ac17.0 million), against negative SEK39 million in the corresponding period of 2025.<\/p>\n
The group\u2019s return to operating profit, supported by a disposal gain, did not extend to the sawmills. Lumber manufacturing continued to lose money despite the improvement in the consolidated result.<\/p>\n
S\u00f6dra\u2019s lower output did not prevent the deterioration. Production reductions can limit the amount of lumber entering a weak market, but they do not immediately eliminate the costs of staffing, maintaining and operating an industrial network.<\/p>\n
\n
<\/div>\n
The profit recovery varies sharply by producer<\/p>\n
Q3 earnings before interest, tax, depreciation and amortization \u00b7 amounts in millions<\/p>\n
\n
\n\n\n| Company \/ measure<\/th>\n | Currency<\/th>\n | Q3 2025<\/th>\n | Q3 2026<\/th>\n | Q3 2026
\n\u20ac equivalent<\/th>\n<\/tr>\n<\/thead>\n |
\n\nCanfor<\/strong>
\nLumber \u00b7 adjusted EBITDA<\/span><\/td>\nC$<\/td>\n | \u22122.0<\/td>\n | 107.9<\/td>\n | 68.4<\/td>\n<\/tr>\n | \nWeyerhaeuser<\/strong>
\nLumber \u00b7 adjusted EBITDA<\/span><\/td>\nUS$<\/td>\n | \u221248.0<\/td>\n | 69.0<\/td>\n | 61.6<\/td>\n<\/tr>\n | \nInterfor<\/strong>
\nAdjusted EBITDA<\/span><\/td>\nC$<\/td>\n | \u2212183.8<\/td>\n | 76.9<\/td>\n | 48.7<\/td>\n<\/tr>\n | \nWest Fraser<\/strong>
\nLumber \u00b7 adjusted EBITDA<\/span><\/td>\nUS$<\/td>\n | \u2212123.0<\/td>\n | 34.0<\/td>\n | 30.4<\/td>\n<\/tr>\n | \nSCA<\/strong>
\nWood \u00b7 EBITDA<\/span><\/td>\nSEK<\/td>\n | 232.0<\/td>\n | 117.0<\/td>\n | 10.6<\/td>\n<\/tr>\n | \nHolmen<\/strong>
\nWood Products \u00b7 EBITDA<\/span><\/td>\nSEK<\/td>\n | \u221236.0<\/td>\n | 29.0<\/td>\n | 2.6<\/td>\n<\/tr>\n | \nS\u00f6dra<\/strong>
\nWood \u00b7 EBITDA<\/span><\/td>\nSEK<\/td>\n | \u221239.0<\/td>\n | \u2212187.0<\/td>\n | \u221217.0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n Company definitions and business scopes differ. Interfor\u2019s Q3 2025 includes a C$156.7m duty charge; West Fraser\u2019s Q3 2026 includes a US$12m favorable duty adjustment. \u20ac1 = US$1.1193 \/ C$1.5785 \/ SEK10.9960, ECB, 9 November 2026; conversions are indicative, not accounting translations.<\/p>\n<\/div>\n The Swedish results consequently remained far apart. SCA benefited from lower raw-material costs during the quarter. Holmen reduced its loss. S\u00f6dra faced a substantially larger loss than a year earlier. None of those outcomes can be explained by the direction of finished lumber prices alone.<\/p>\n Mets\u00e4 Fibre and Stora Enso hold annual delivery volumes<\/strong><\/p>\nMets\u00e4 Fibre\u2019s sawn-timber deliveries were broadly stable at 364,000 m\u00b3, compared with 361,000 m\u00b3 a year earlier. Reported market prices were unchanged both annually and sequentially.<\/p>\n Stora Enso reported external wood-products deliveries of 1.042 million m\u00b3, a stated increase of 0.3% year on year. Deliveries were below the second quarter\u2019s 1.230 million m\u00b3.<\/p>\n The financial reporting provides less detail on the profitability of those volumes. Mets\u00e4 Fibre combines pulp and sawn timber in its segment results. Stora Enso ceased reporting Wood Products as a separate segment from the beginning of 2026.<\/p>\n Their shipment figures can be included in a comparison of trading activity, but the wider segment and group earnings cannot be assigned to lumber manufacturing. A recovery in pulp or packaging would not establish a corresponding improvement at the sawmills.<\/p>\n The available delivery figures point to stable annual sales volumes at both businesses. They do not provide evidence of a strong expansion in demand or allow a direct comparison of sawmill margins with the separately reported lumber businesses in North America.<\/p>\n October prices weaken the case for a sustained recovery<\/strong><\/p>\nWeyerhaeuser\u2019s early fourth-quarter pricing was less favorable than its third-quarter annual comparison. As of 23 October, its quarter-to-date lumber realization net of freight had fallen to approximately US$167\/m\u00b3 (\u20ac149), down 12.2% from the third-quarter average of about US$190\/m\u00b3.<\/p>\n The figure covers only part of the quarter. Even so, the decline was large enough to put renewed pressure on the revenue available to cover logs and conversion costs.<\/p>\n A mill cannot normally reduce those costs as quickly as a lumber price can fall. Existing log inventories, labor requirements, maintenance schedules and transport arrangements restrict the immediate response. Lower realizations can therefore reduce earnings before management has much opportunity to adjust the cost base.<\/p>\n Operating decisions become more difficult when margins are already narrow. Keeping mills running spreads fixed costs across more production, but risks adding inventory if customers reduce purchases. Curtailing output reduces exposure to weak prices while leaving fewer cubic metres over which to recover the remaining costs.<\/p>\n The four North American producers entered this period with better annual earnings than in 2025. Their weaker sequential results leave less room to absorb another reduction in selling prices.<\/p>\n Mill closures continue despite the annual earnings recovery<\/strong><\/p>\nWest Fraser announced an indefinite curtailment at its Leola sawmill in Arkansas, removing approximately 531,000 m\u00b3 of annual nominal capacity as production winds down in the fourth quarter. Canfor also reported the closure of its Fox Creek sawmill in Alberta.<\/p>\n Positive earnings across a large lumber portfolio have not secured the future of every mill within it. Companies continue to assess individual operations against regional log costs, production efficiency, freight requirements and the prices available for their output.<\/p>\n Closures can improve the average performance of the remaining portfolio, but they also reduce the production base from which future shipment growth can come. Subsequent improvements in earnings may therefore combine better trading conditions with the removal of weaker operations.<\/p>\n Across the companies reviewed, the strongest annual profit recoveries were concentrated in North America. The more recent quarterly comparisons were weaker. In Sweden, some producers began to benefit from cheaper logs, while others continued to report severe losses.<\/p>\n Further progress will require more than higher invoices or larger shipment totals. Producers need stronger lumber realizations after freight, lower raw-material and conversion costs, or a combination of both. Acquired volumes and duty adjustments can improve reported results without resolving the operating pressure at individual sawmills.<\/p>\n The third quarter brought higher annual earnings for several of the industry\u2019s largest companies. It also brought lower sequential profits, further capacity reductions and an early fourth-quarter decline in prices. The recovery has improved the accounts faster than it has secured the mills.<\/p>","protected":false},"excerpt":{"rendered":" Selling lumber at a higher price is offering sawmills less relief than they need. Expensive logs, freight bills and manufacturing costs continue to absorb much of the additional revenue, while uncertain orders complicate production schedules. Across Europe and North America, … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":100577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[5204],"tags":[],"class_list":["post-100576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news"],"acf":[],"yoast_head":"\nEurope and North America\u2019s largest sawmills struggle to rebuild margins - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe and North America\u2019s largest sawmills struggle to rebuild margins - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Selling lumber at a higher price is offering sawmills less relief than they need. 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Expensive logs, freight bills and manufacturing costs continue to absorb much of the additional revenue, while uncertain orders complicate production schedules. Across Europe and North America, … Continue reading →","og_url":"https:\/\/www.timberindustrynews.com\/ro\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins\/","og_site_name":"Timber Industry News","article_published_time":"2026-11-10T08:11:15+00:00","article_modified_time":"2026-11-10T22:09:48+00:00","og_image":[{"width":768,"height":512,"url":"https:\/\/www.timberindustrynews.com\/wp-content\/uploads\/2026\/11\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins.jpg","type":"image\/jpeg"}],"author":"GWMI Admin","twitter_card":"summary_large_image","twitter_misc":{"Scris de":"GWMI Admin","Timp estimat pentru citire":"13 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.timberindustrynews.com\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins\/#article","isPartOf":{"@id":"https:\/\/www.timberindustrynews.com\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins\/"},"author":{"name":"GWMI Admin","@id":"https:\/\/www.timberindustrynews.com\/#\/schema\/person\/135a1ae8119d1d1755135add5b7287ff"},"headline":"Europe and North America\u2019s largest sawmills struggle to rebuild margins","datePublished":"2026-11-10T08:11:15+00:00","dateModified":"2026-11-10T22:09:48+00:00","mainEntityOfPage":{"@id":"https:\/\/www.timberindustrynews.com\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins\/"},"wordCount":2615,"publisher":{"@id":"https:\/\/www.timberindustrynews.com\/#organization"},"image":{"@id":"https:\/\/www.timberindustrynews.com\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins\/#primaryimage"},"thumbnailUrl":"https:\/\/www.timberindustrynews.com\/wp-content\/uploads\/2026\/11\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins.jpg","articleSection":["Daily News"],"inLanguage":"ro-RO"},{"@type":"WebPage","@id":"https:\/\/www.timberindustrynews.com\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins\/","url":"https:\/\/www.timberindustrynews.com\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins\/","name":"Europe and North America\u2019s largest sawmills struggle to rebuild margins - 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![<\/a><\/p>\n<\/div>\nNorth American earnings improve annually but weaken sequentially<\/strong><\/p>\nThe annual recovery was substantial. Weyerhaeuser\u2019s lumber adjusted EBITDA reached US$69 million (\u20ac61.6 million), against a US$48 million loss a year earlier. West Fraser\u2019s lumber business generated US$34 million (\u20ac30.4 million), compared with a US$123 million loss. Canfor\u2019s lumber adjusted EBITDA rose to C$107.9 million (\u20ac68.4 million), from a C$2 million loss, while Interfor returned to positive adjusted EBITDA of C$76.9 million (\u20ac48.7 million).<\/p>\nThe comparison with the second quarter was considerably weaker. Canfor\u2019s lumber adjusted EBITDA fell approximately 25%, West Fraser\u2019s declined 17%, Interfor\u2019s dropped 17% and Weyerhaeuser\u2019s lumber earnings decreased about 5%.<\/p>\nSome of the annual improvement also came from changes in duty-related charges. Interfor\u2019s previous-year result contained a large non-cash expense, while West Fraser\u2019s latest quarter benefited from a favorable adjustment. The improvement in lumber trading was therefore smaller than the headline earnings swing at those companies.<\/p>\nShipments offered little evidence of a broad acceleration. Canfor and Interfor sold more lumber than a year earlier, while Weyerhaeuser and West Fraser sold less. Against the second quarter, volumes increased at Weyerhaeuser and Interfor but declined at Canfor and West Fraser.<\/p>\nWeyerhaeuser ships more, but freight and costs absorb the gain<\/strong><\/p>\nWeyerhaeuser\u2019s third-party structural lumber sales reached approximately 2.91 million m\u00b3, up 6.0% from the second quarter but down 2.1% year on year. Its average delivered realization was equivalent to US$216\/m\u00b3 (\u20ac193), 25.9% above the corresponding 2025 level.<\/p>\nLumber adjusted EBITDA nevertheless declined from US$73 million in the second quarter to US$69 million. Delivered realizations edged higher, but the amount retained after freight fell: average net-of-freight realizations decreased from approximately US$192\/m\u00b3 to US$190\/m\u00b3. Log and manufacturing costs also increased slightly.<\/p>\nThe company sold a larger volume sequentially without improving the return generated by those sales. Higher transport charges supported the delivered price paid by customers, while leaving less revenue available to cover production costs.<\/p>\nFor lumber exporters and buyers comparing supplier quotations, the freight basis remains essential. A delivered price includes services and costs beyond the mill gate. An increase caused by transport charges does not give a sawmill the same earnings benefit as an equivalent increase in the underlying lumber price.<\/p>\n<\/a><\/p>\nInterfor\u2019s higher prices fail to prevent a quarterly earnings decline<\/strong><\/p>\nInterfor sold approximately 2.24 million m\u00b3 of lumber, up 2.6% year on year and 0.7% from the second quarter. Its average gross selling price reached the equivalent of C$318\/m\u00b3 (\u20ac202), an increase of 21.5% annually and 1.6% sequentially.<\/p>\nAdjusted EBITDA fell from C$92.3 million to C$76.9 million, while the reported margin narrowed from 11.5% to 9.2%. Both sales volumes and average prices improved from the preceding quarter, but earnings declined.<\/p>\nInterfor\u2019s price measure includes duties, tariffs and freight. It should therefore be compared with the company\u2019s own historical series rather than treated as an ex-mill quotation.<\/p>\nThe annual earnings comparison was also affected by the C$156.7 million non-cash duty charge included in the third quarter of 2025. That charge accounted for a large part of the C$183.8 million adjusted EBITDA loss reported for the period.<\/p>\nThe sequential result gives a less favorable account of recent trading than the annual recovery. Interfor entered the third quarter with positive earnings, achieved modest gains in volumes and gross prices, and still finished with a smaller margin.<\/p>\nWest Fraser faces different markets for SPF and southern yellow pine<\/strong><\/p>\nWest Fraser\u2019s lumber shipments totaled approximately 2.98 million m\u00b3, down 3.1% year on year and 2.0% from the second quarter. Lumber adjusted EBITDA declined sequentially from US$41 million to US$34 million (\u20ac30.4 million).<\/p>\nThe latest result included a favorable US$12 million duty adjustment. The lumber segment recorded an operating loss of US$17 million after depreciation and other operating charges.<\/p>\nPrices moved in different directions across the portfolio. Spruce-pine-fir realizations improved from the second quarter, while southern yellow pine realizations weakened. A stronger market for one product group was insufficient to offset the weaker performance elsewhere.<\/p>\nCosts remained a further constraint. West Fraser estimated that diesel inflation since the beginning of the year had added approximately US$6.4\/m\u00b3 to lumber costs. Customer freight surcharges recovered part of the increased transport expense, but did not remove the pressure on production and logistics.<\/p>\nSpecies, product dimensions and mill location can produce very different financial results within the same company. A consolidated lumber price conceals those differences, particularly when demand and inventories develop unevenly across regional markets.<\/p>\nCanfor\u2019s European growth includes acquired capacity<\/strong><\/p>\nCanfor shipped approximately 3.03 million m\u00b3 of lumber, up 5.3% year on year but down 5.0% from the second quarter. Lumber adjusted EBITDA fell from C$144.7 million to C$107.9 million (\u20ac68.4 million), despite improved realizations across its operating regions.<\/p>\nLower European shipments and seasonal production downtime reduced earnings. European deliveries reached approximately 944,000 m\u00b3, down from the second quarter but 13.6% above the year-earlier level.<\/p>\nThe annual volume increase primarily came from the contribution of the acquired Hedin mills. European adjusted EBITDA was C$19.8 million (\u20ac12.5 million), compared with C$36.9 million in the second quarter.<\/p>\nCanfor also achieved better realizations for certain wider lumber dimensions even where standard southern yellow pine benchmarks declined. Its actual sales mix provided some protection against weaker benchmark prices.<\/p>\nAcquired mills increase a company\u2019s reported deliveries without necessarily increasing market consumption. Canfor\u2019s European shipment growth therefore cannot be read as a comparable increase in customer demand. The business operated a larger portfolio than a year earlier, while still experiencing the seasonal reduction in activity during the third quarter.<\/p>\nFor suppliers assessing competition, the acquired capacity remains commercially relevant: it changes the scale and reach of the company selling the lumber. For an assessment of demand, however, the additional volumes need to be separated from growth within the existing mill network.<\/p>\nCheaper logs help SCA recover part of its margin<\/strong><\/p>\nSCA delivered 489,000 m\u00b3 of solid wood products, down 8.1% from a year earlier. Wood EBITDA fell from SEK232 million to SEK117 million (\u20ac10.6 million), as higher raw-material and distribution costs, together with lower deliveries, outweighed slightly higher annual selling prices.<\/p>\nAgainst the second quarter, EBITDA increased by 31% from SEK89 million. Lower raw-material costs drove the improvement, while selling prices declined slightly. The Wood EBITDA margin recovered to 8.1%, although it remained well below the 15.0% recorded a year earlier.<\/p>\nThe sequential price decline partly resulted from a greater proportion of lower-quality, wind-felled timber in the sales mix. SCA also reported stronger demand for spruce than pine, with producer inventories high for pine and normal for spruce.<\/p>\nThe earnings improvement came through procurement costs rather than stronger selling prices. SCA retained more of its revenue because raw materials became less expensive, despite selling a smaller volume than in the preceding quarter.<\/p>\nThe difference between spruce and pine also limits the usefulness of a single European softwood price. Mills selling into a better-balanced spruce market can face different order conditions from those competing to move pine from higher inventories. Quality and specifications further affect the price a producer can achieve.<\/p>\nHolmen reduces losses without a selling-price increase<\/strong><\/p>\nHolmen\u2019s Wood Products deliveries declined 15.4% year on year to 269,000 m\u00b3. Deliveries also fell seasonally from the second quarter, while production curtailments constrained volumes.<\/p>\nSelling prices were unchanged sequentially. Lower log costs and production improvements nevertheless reduced the operating loss from SEK55 million to SEK23 million (\u20ac2.1 million). EBITDA returned to a positive SEK29 million (\u20ac2.6 million), compared with negative SEK3 million in the second quarter.<\/p>\nHolmen improved its result while shipping less lumber. Purchasing costs and production performance provided relief that the sales market had not delivered.<\/p>\nThe business remained loss-making after depreciation. Positive EBITDA covered only part of the financial requirements of the industrial operation; the mills had yet to generate an operating profit.<\/p>\nFor producers carrying large investments in modern sawmills, that gap remains important. Higher efficiency can reduce the cost of processing each cubic metre, but the assets still require maintenance and must earn a return over their operating life. A period of positive EBITDA does not by itself establish that those investments are generating an adequate return.<\/p>\nS\u00f6dra\u2019s sawmill losses deepen<\/strong><\/p>\nS\u00f6dra\u2019s sawn-timber deliveries fell 7.9% year on year to 385,000 m\u00b3. Production declined to 306,000 m\u00b3 from 354,000 m\u00b3, a reduction of approximately 14%.<\/p>\nLower market prices, higher raw-material costs and reduced deliveries pushed the Wood operating loss to SEK256 million (\u20ac23.3 million), compared with SEK103 million a year earlier. Wood EBITDA was negative SEK187 million (\u20ac17.0 million), against negative SEK39 million in the corresponding period of 2025.<\/p>\nThe group\u2019s return to operating profit, supported by a disposal gain, did not extend to the sawmills. Lumber manufacturing continued to lose money despite the improvement in the consolidated result.<\/p>\nS\u00f6dra\u2019s lower output did not prevent the deterioration. Production reductions can limit the amount of lumber entering a weak market, but they do not immediately eliminate the costs of staffing, maintaining and operating an industrial network.<\/p>\n\n<\/div>\nThe profit recovery varies sharply by producer<\/p>\nQ3 earnings before interest, tax, depreciation and amortization \u00b7 amounts in millions<\/p>\n\n\n\n\nCompany \/ measure<\/th>\nCurrency<\/th>\nQ3 2025<\/th>\nQ3 2026<\/th>\nQ3 2026\n\u20ac equivalent<\/th>\n<\/tr>\n<\/thead>\n\n\nCanfor<\/strong>\nLumber \u00b7 adjusted EBITDA<\/span><\/td>\nC$<\/td>\n\u22122.0<\/td>\n107.9<\/td>\n68.4<\/td>\n<\/tr>\n\nWeyerhaeuser<\/strong>\nLumber \u00b7 adjusted EBITDA<\/span><\/td>\nUS$<\/td>\n\u221248.0<\/td>\n69.0<\/td>\n61.6<\/td>\n<\/tr>\n\nInterfor<\/strong>\nAdjusted EBITDA<\/span><\/td>\nC$<\/td>\n\u2212183.8<\/td>\n76.9<\/td>\n48.7<\/td>\n<\/tr>\n\nWest Fraser<\/strong>\nLumber \u00b7 adjusted EBITDA<\/span><\/td>\nUS$<\/td>\n\u2212123.0<\/td>\n34.0<\/td>\n30.4<\/td>\n<\/tr>\n\nSCA<\/strong>\nWood \u00b7 EBITDA<\/span><\/td>\nSEK<\/td>\n232.0<\/td>\n117.0<\/td>\n10.6<\/td>\n<\/tr>\n\nHolmen<\/strong>\nWood Products \u00b7 EBITDA<\/span><\/td>\nSEK<\/td>\n\u221236.0<\/td>\n29.0<\/td>\n2.6<\/td>\n<\/tr>\n\nS\u00f6dra<\/strong>\nWood \u00b7 EBITDA<\/span><\/td>\nSEK<\/td>\n\u221239.0<\/td>\n\u2212187.0<\/td>\n\u221217.0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\nCompany definitions and business scopes differ. Interfor\u2019s Q3 2025 includes a C$156.7m duty charge; West Fraser\u2019s Q3 2026 includes a US$12m favorable duty adjustment. \u20ac1 = US$1.1193 \/ C$1.5785 \/ SEK10.9960, ECB, 9 November 2026; conversions are indicative, not accounting translations.<\/p>\n<\/div>\nThe Swedish results consequently remained far apart. SCA benefited from lower raw-material costs during the quarter. Holmen reduced its loss. S\u00f6dra faced a substantially larger loss than a year earlier. None of those outcomes can be explained by the direction of finished lumber prices alone.<\/p>\nMets\u00e4 Fibre and Stora Enso hold annual delivery volumes<\/strong><\/p>\nMets\u00e4 Fibre\u2019s sawn-timber deliveries were broadly stable at 364,000 m\u00b3, compared with 361,000 m\u00b3 a year earlier. Reported market prices were unchanged both annually and sequentially.<\/p>\nStora Enso reported external wood-products deliveries of 1.042 million m\u00b3, a stated increase of 0.3% year on year. Deliveries were below the second quarter\u2019s 1.230 million m\u00b3.<\/p>\nThe financial reporting provides less detail on the profitability of those volumes. Mets\u00e4 Fibre combines pulp and sawn timber in its segment results. Stora Enso ceased reporting Wood Products as a separate segment from the beginning of 2026.<\/p>\nTheir shipment figures can be included in a comparison of trading activity, but the wider segment and group earnings cannot be assigned to lumber manufacturing. A recovery in pulp or packaging would not establish a corresponding improvement at the sawmills.<\/p>\nThe available delivery figures point to stable annual sales volumes at both businesses. They do not provide evidence of a strong expansion in demand or allow a direct comparison of sawmill margins with the separately reported lumber businesses in North America.<\/p>\nOctober prices weaken the case for a sustained recovery<\/strong><\/p>\nWeyerhaeuser\u2019s early fourth-quarter pricing was less favorable than its third-quarter annual comparison. As of 23 October, its quarter-to-date lumber realization net of freight had fallen to approximately US$167\/m\u00b3 (\u20ac149), down 12.2% from the third-quarter average of about US$190\/m\u00b3.<\/p>\nThe figure covers only part of the quarter. Even so, the decline was large enough to put renewed pressure on the revenue available to cover logs and conversion costs.<\/p>\nA mill cannot normally reduce those costs as quickly as a lumber price can fall. Existing log inventories, labor requirements, maintenance schedules and transport arrangements restrict the immediate response. Lower realizations can therefore reduce earnings before management has much opportunity to adjust the cost base.<\/p>\nOperating decisions become more difficult when margins are already narrow. Keeping mills running spreads fixed costs across more production, but risks adding inventory if customers reduce purchases. Curtailing output reduces exposure to weak prices while leaving fewer cubic metres over which to recover the remaining costs.<\/p>\nThe four North American producers entered this period with better annual earnings than in 2025. Their weaker sequential results leave less room to absorb another reduction in selling prices.<\/p>\nMill closures continue despite the annual earnings recovery<\/strong><\/p>\nWest Fraser announced an indefinite curtailment at its Leola sawmill in Arkansas, removing approximately 531,000 m\u00b3 of annual nominal capacity as production winds down in the fourth quarter. Canfor also reported the closure of its Fox Creek sawmill in Alberta.<\/p>\nPositive earnings across a large lumber portfolio have not secured the future of every mill within it. Companies continue to assess individual operations against regional log costs, production efficiency, freight requirements and the prices available for their output.<\/p>\nClosures can improve the average performance of the remaining portfolio, but they also reduce the production base from which future shipment growth can come. Subsequent improvements in earnings may therefore combine better trading conditions with the removal of weaker operations.<\/p>\nAcross the companies reviewed, the strongest annual profit recoveries were concentrated in North America. The more recent quarterly comparisons were weaker. In Sweden, some producers began to benefit from cheaper logs, while others continued to report severe losses.<\/p>\nFurther progress will require more than higher invoices or larger shipment totals. Producers need stronger lumber realizations after freight, lower raw-material and conversion costs, or a combination of both. Acquired volumes and duty adjustments can improve reported results without resolving the operating pressure at individual sawmills.<\/p>\nThe third quarter brought higher annual earnings for several of the industry\u2019s largest companies. It also brought lower sequential profits, further capacity reductions and an early fourth-quarter decline in prices. The recovery has improved the accounts faster than it has secured the mills.<\/p>","protected":false},"excerpt":{"rendered":"Selling lumber at a higher price is offering sawmills less relief than they need. Expensive logs, freight bills and manufacturing costs continue to absorb much of the additional revenue, while uncertain orders complicate production schedules. Across Europe and North America, … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":100577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[5204],"tags":[],"class_list":["post-100576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news"],"acf":[],"yoast_head":"\nEurope and North America\u2019s largest sawmills struggle to rebuild margins - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe and North America\u2019s largest sawmills struggle to rebuild margins - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Selling lumber at a higher price is offering sawmills less relief than they need. Expensive logs, freight bills and manufacturing costs continue to absorb much of the additional revenue, while uncertain orders complicate production schedules. 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Expensive logs, freight bills and manufacturing costs continue to absorb much of the additional revenue, while uncertain orders complicate production schedules. 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![<\/a><\/p>\nInterfor\u2019s higher prices fail to prevent a quarterly earnings decline<\/strong><\/p>\nInterfor sold approximately 2.24 million m\u00b3 of lumber, up 2.6% year on year and 0.7% from the second quarter. Its average gross selling price reached the equivalent of C$318\/m\u00b3 (\u20ac202), an increase of 21.5% annually and 1.6% sequentially.<\/p>\nAdjusted EBITDA fell from C$92.3 million to C$76.9 million, while the reported margin narrowed from 11.5% to 9.2%. Both sales volumes and average prices improved from the preceding quarter, but earnings declined.<\/p>\nInterfor\u2019s price measure includes duties, tariffs and freight. It should therefore be compared with the company\u2019s own historical series rather than treated as an ex-mill quotation.<\/p>\nThe annual earnings comparison was also affected by the C$156.7 million non-cash duty charge included in the third quarter of 2025. That charge accounted for a large part of the C$183.8 million adjusted EBITDA loss reported for the period.<\/p>\nThe sequential result gives a less favorable account of recent trading than the annual recovery. Interfor entered the third quarter with positive earnings, achieved modest gains in volumes and gross prices, and still finished with a smaller margin.<\/p>\nWest Fraser faces different markets for SPF and southern yellow pine<\/strong><\/p>\nWest Fraser\u2019s lumber shipments totaled approximately 2.98 million m\u00b3, down 3.1% year on year and 2.0% from the second quarter. Lumber adjusted EBITDA declined sequentially from US$41 million to US$34 million (\u20ac30.4 million).<\/p>\nThe latest result included a favorable US$12 million duty adjustment. The lumber segment recorded an operating loss of US$17 million after depreciation and other operating charges.<\/p>\nPrices moved in different directions across the portfolio. Spruce-pine-fir realizations improved from the second quarter, while southern yellow pine realizations weakened. A stronger market for one product group was insufficient to offset the weaker performance elsewhere.<\/p>\nCosts remained a further constraint. West Fraser estimated that diesel inflation since the beginning of the year had added approximately US$6.4\/m\u00b3 to lumber costs. Customer freight surcharges recovered part of the increased transport expense, but did not remove the pressure on production and logistics.<\/p>\nSpecies, product dimensions and mill location can produce very different financial results within the same company. A consolidated lumber price conceals those differences, particularly when demand and inventories develop unevenly across regional markets.<\/p>\nCanfor\u2019s European growth includes acquired capacity<\/strong><\/p>\nCanfor shipped approximately 3.03 million m\u00b3 of lumber, up 5.3% year on year but down 5.0% from the second quarter. Lumber adjusted EBITDA fell from C$144.7 million to C$107.9 million (\u20ac68.4 million), despite improved realizations across its operating regions.<\/p>\nLower European shipments and seasonal production downtime reduced earnings. European deliveries reached approximately 944,000 m\u00b3, down from the second quarter but 13.6% above the year-earlier level.<\/p>\nThe annual volume increase primarily came from the contribution of the acquired Hedin mills. European adjusted EBITDA was C$19.8 million (\u20ac12.5 million), compared with C$36.9 million in the second quarter.<\/p>\nCanfor also achieved better realizations for certain wider lumber dimensions even where standard southern yellow pine benchmarks declined. Its actual sales mix provided some protection against weaker benchmark prices.<\/p>\nAcquired mills increase a company\u2019s reported deliveries without necessarily increasing market consumption. Canfor\u2019s European shipment growth therefore cannot be read as a comparable increase in customer demand. The business operated a larger portfolio than a year earlier, while still experiencing the seasonal reduction in activity during the third quarter.<\/p>\nFor suppliers assessing competition, the acquired capacity remains commercially relevant: it changes the scale and reach of the company selling the lumber. For an assessment of demand, however, the additional volumes need to be separated from growth within the existing mill network.<\/p>\nCheaper logs help SCA recover part of its margin<\/strong><\/p>\nSCA delivered 489,000 m\u00b3 of solid wood products, down 8.1% from a year earlier. Wood EBITDA fell from SEK232 million to SEK117 million (\u20ac10.6 million), as higher raw-material and distribution costs, together with lower deliveries, outweighed slightly higher annual selling prices.<\/p>\nAgainst the second quarter, EBITDA increased by 31% from SEK89 million. Lower raw-material costs drove the improvement, while selling prices declined slightly. The Wood EBITDA margin recovered to 8.1%, although it remained well below the 15.0% recorded a year earlier.<\/p>\nThe sequential price decline partly resulted from a greater proportion of lower-quality, wind-felled timber in the sales mix. SCA also reported stronger demand for spruce than pine, with producer inventories high for pine and normal for spruce.<\/p>\nThe earnings improvement came through procurement costs rather than stronger selling prices. SCA retained more of its revenue because raw materials became less expensive, despite selling a smaller volume than in the preceding quarter.<\/p>\nThe difference between spruce and pine also limits the usefulness of a single European softwood price. Mills selling into a better-balanced spruce market can face different order conditions from those competing to move pine from higher inventories. Quality and specifications further affect the price a producer can achieve.<\/p>\nHolmen reduces losses without a selling-price increase<\/strong><\/p>\nHolmen\u2019s Wood Products deliveries declined 15.4% year on year to 269,000 m\u00b3. Deliveries also fell seasonally from the second quarter, while production curtailments constrained volumes.<\/p>\nSelling prices were unchanged sequentially. Lower log costs and production improvements nevertheless reduced the operating loss from SEK55 million to SEK23 million (\u20ac2.1 million). EBITDA returned to a positive SEK29 million (\u20ac2.6 million), compared with negative SEK3 million in the second quarter.<\/p>\nHolmen improved its result while shipping less lumber. Purchasing costs and production performance provided relief that the sales market had not delivered.<\/p>\nThe business remained loss-making after depreciation. Positive EBITDA covered only part of the financial requirements of the industrial operation; the mills had yet to generate an operating profit.<\/p>\nFor producers carrying large investments in modern sawmills, that gap remains important. Higher efficiency can reduce the cost of processing each cubic metre, but the assets still require maintenance and must earn a return over their operating life. A period of positive EBITDA does not by itself establish that those investments are generating an adequate return.<\/p>\nS\u00f6dra\u2019s sawmill losses deepen<\/strong><\/p>\nS\u00f6dra\u2019s sawn-timber deliveries fell 7.9% year on year to 385,000 m\u00b3. Production declined to 306,000 m\u00b3 from 354,000 m\u00b3, a reduction of approximately 14%.<\/p>\nLower market prices, higher raw-material costs and reduced deliveries pushed the Wood operating loss to SEK256 million (\u20ac23.3 million), compared with SEK103 million a year earlier. Wood EBITDA was negative SEK187 million (\u20ac17.0 million), against negative SEK39 million in the corresponding period of 2025.<\/p>\nThe group\u2019s return to operating profit, supported by a disposal gain, did not extend to the sawmills. Lumber manufacturing continued to lose money despite the improvement in the consolidated result.<\/p>\nS\u00f6dra\u2019s lower output did not prevent the deterioration. Production reductions can limit the amount of lumber entering a weak market, but they do not immediately eliminate the costs of staffing, maintaining and operating an industrial network.<\/p>\n\n<\/div>\nThe profit recovery varies sharply by producer<\/p>\nQ3 earnings before interest, tax, depreciation and amortization \u00b7 amounts in millions<\/p>\n\n\n\n\nCompany \/ measure<\/th>\nCurrency<\/th>\nQ3 2025<\/th>\nQ3 2026<\/th>\nQ3 2026\n\u20ac equivalent<\/th>\n<\/tr>\n<\/thead>\n\n\nCanfor<\/strong>\nLumber \u00b7 adjusted EBITDA<\/span><\/td>\nC$<\/td>\n\u22122.0<\/td>\n107.9<\/td>\n68.4<\/td>\n<\/tr>\n\nWeyerhaeuser<\/strong>\nLumber \u00b7 adjusted EBITDA<\/span><\/td>\nUS$<\/td>\n\u221248.0<\/td>\n69.0<\/td>\n61.6<\/td>\n<\/tr>\n\nInterfor<\/strong>\nAdjusted EBITDA<\/span><\/td>\nC$<\/td>\n\u2212183.8<\/td>\n76.9<\/td>\n48.7<\/td>\n<\/tr>\n\nWest Fraser<\/strong>\nLumber \u00b7 adjusted EBITDA<\/span><\/td>\nUS$<\/td>\n\u2212123.0<\/td>\n34.0<\/td>\n30.4<\/td>\n<\/tr>\n\nSCA<\/strong>\nWood \u00b7 EBITDA<\/span><\/td>\nSEK<\/td>\n232.0<\/td>\n117.0<\/td>\n10.6<\/td>\n<\/tr>\n\nHolmen<\/strong>\nWood Products \u00b7 EBITDA<\/span><\/td>\nSEK<\/td>\n\u221236.0<\/td>\n29.0<\/td>\n2.6<\/td>\n<\/tr>\n\nS\u00f6dra<\/strong>\nWood \u00b7 EBITDA<\/span><\/td>\nSEK<\/td>\n\u221239.0<\/td>\n\u2212187.0<\/td>\n\u221217.0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\nCompany definitions and business scopes differ. Interfor\u2019s Q3 2025 includes a C$156.7m duty charge; West Fraser\u2019s Q3 2026 includes a US$12m favorable duty adjustment. \u20ac1 = US$1.1193 \/ C$1.5785 \/ SEK10.9960, ECB, 9 November 2026; conversions are indicative, not accounting translations.<\/p>\n<\/div>\nThe Swedish results consequently remained far apart. SCA benefited from lower raw-material costs during the quarter. Holmen reduced its loss. S\u00f6dra faced a substantially larger loss than a year earlier. None of those outcomes can be explained by the direction of finished lumber prices alone.<\/p>\nMets\u00e4 Fibre and Stora Enso hold annual delivery volumes<\/strong><\/p>\nMets\u00e4 Fibre\u2019s sawn-timber deliveries were broadly stable at 364,000 m\u00b3, compared with 361,000 m\u00b3 a year earlier. Reported market prices were unchanged both annually and sequentially.<\/p>\nStora Enso reported external wood-products deliveries of 1.042 million m\u00b3, a stated increase of 0.3% year on year. Deliveries were below the second quarter\u2019s 1.230 million m\u00b3.<\/p>\nThe financial reporting provides less detail on the profitability of those volumes. Mets\u00e4 Fibre combines pulp and sawn timber in its segment results. Stora Enso ceased reporting Wood Products as a separate segment from the beginning of 2026.<\/p>\nTheir shipment figures can be included in a comparison of trading activity, but the wider segment and group earnings cannot be assigned to lumber manufacturing. A recovery in pulp or packaging would not establish a corresponding improvement at the sawmills.<\/p>\nThe available delivery figures point to stable annual sales volumes at both businesses. They do not provide evidence of a strong expansion in demand or allow a direct comparison of sawmill margins with the separately reported lumber businesses in North America.<\/p>\nOctober prices weaken the case for a sustained recovery<\/strong><\/p>\nWeyerhaeuser\u2019s early fourth-quarter pricing was less favorable than its third-quarter annual comparison. As of 23 October, its quarter-to-date lumber realization net of freight had fallen to approximately US$167\/m\u00b3 (\u20ac149), down 12.2% from the third-quarter average of about US$190\/m\u00b3.<\/p>\nThe figure covers only part of the quarter. Even so, the decline was large enough to put renewed pressure on the revenue available to cover logs and conversion costs.<\/p>\nA mill cannot normally reduce those costs as quickly as a lumber price can fall. Existing log inventories, labor requirements, maintenance schedules and transport arrangements restrict the immediate response. Lower realizations can therefore reduce earnings before management has much opportunity to adjust the cost base.<\/p>\nOperating decisions become more difficult when margins are already narrow. Keeping mills running spreads fixed costs across more production, but risks adding inventory if customers reduce purchases. Curtailing output reduces exposure to weak prices while leaving fewer cubic metres over which to recover the remaining costs.<\/p>\nThe four North American producers entered this period with better annual earnings than in 2025. Their weaker sequential results leave less room to absorb another reduction in selling prices.<\/p>\nMill closures continue despite the annual earnings recovery<\/strong><\/p>\nWest Fraser announced an indefinite curtailment at its Leola sawmill in Arkansas, removing approximately 531,000 m\u00b3 of annual nominal capacity as production winds down in the fourth quarter. Canfor also reported the closure of its Fox Creek sawmill in Alberta.<\/p>\nPositive earnings across a large lumber portfolio have not secured the future of every mill within it. Companies continue to assess individual operations against regional log costs, production efficiency, freight requirements and the prices available for their output.<\/p>\nClosures can improve the average performance of the remaining portfolio, but they also reduce the production base from which future shipment growth can come. Subsequent improvements in earnings may therefore combine better trading conditions with the removal of weaker operations.<\/p>\nAcross the companies reviewed, the strongest annual profit recoveries were concentrated in North America. The more recent quarterly comparisons were weaker. In Sweden, some producers began to benefit from cheaper logs, while others continued to report severe losses.<\/p>\nFurther progress will require more than higher invoices or larger shipment totals. Producers need stronger lumber realizations after freight, lower raw-material and conversion costs, or a combination of both. Acquired volumes and duty adjustments can improve reported results without resolving the operating pressure at individual sawmills.<\/p>\nThe third quarter brought higher annual earnings for several of the industry\u2019s largest companies. It also brought lower sequential profits, further capacity reductions and an early fourth-quarter decline in prices. The recovery has improved the accounts faster than it has secured the mills.<\/p>","protected":false},"excerpt":{"rendered":"Selling lumber at a higher price is offering sawmills less relief than they need. Expensive logs, freight bills and manufacturing costs continue to absorb much of the additional revenue, while uncertain orders complicate production schedules. Across Europe and North America, … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":100577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[5204],"tags":[],"class_list":["post-100576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news"],"acf":[],"yoast_head":"\nEurope and North America\u2019s largest sawmills struggle to rebuild margins - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/europe-and-north-americas-largest-sawmills-struggle-to-rebuild-margins\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe and North America\u2019s largest sawmills struggle to rebuild margins - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Selling lumber at a higher price is offering sawmills less relief than they need. 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