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LEARN MORE ABOUT
Timberlands
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Timberlands Ownership by State
1 | Acres in thousands; as of December 31, 2021.
Sustainable Timberland Management
Historical and Projected Sustainable Harvest
1 | Does not include the effect of future acquisitions or dispositions; reflects large 2020 Minnesota sale.
2 | The Ola, Arkansas sawmill fire reduced harvest in 2021.
3 | 2020 data.
4 | 2021 data.
Idaho Timberlands are Highly Profitable and Productive
PCH Timberlands Significantly Outperform Average Inland Northwest Timberlands
1 | EBITDDA is a non-GAAP measure; see appendix for definition and reconciliations to GAAP; WY EBITDDA obtained from public filings.
Significant Portion of Idaho Sawlogs Indexed to Lumber
1 | Idaho sawlogs are sold on a Scribner Eastside log scale basis; the price conversion factor is approximately 1.25X, so $600/MBF Eastside = ~$750/MBF Westside.
We are Naturally Hedged in the U.S. South
PCH Sawlog Consumption vs. PCH Sawlog Sales
The Hedge is Important Because Southern Sawlog Prices Remain Below Trend Levels
1
Southern Pine Sawtimber Stumpage Price vs Lumber Production
1 | Source: USDA, WWPA, Timber Mart-South; 2021 production estimate based on 10 months of actual production.
Sawmill Capacity Additions Should Continue to Tighten Log Markets
1
Central South Capacity Additions Since 2017
1 | Source: ERA Forest Products Research.
Sawmill Capacity Additions are Expected to Tighten Growth/Harvest Ratios
U.S. South Sawlog Growth vs. Drain
1
1 | Source: ERA Forest Products Research.
Climate Change Opportunities in Southern Timberlands
Potential for Higher Southern Timberland Growth Rates
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