Rayonier - Best-in-Class, Pure-Play Timber REIT
Rayonier Financial Summary: 2014 - 2017 YTD (6/30)
Pro Forma Sales*
($ in millions)
$700
$600
$500
$582
$581
$545
$400
$300
$200
$100
Adjusted EBITDA* / % Margin
($ in millions)
(% of pro forma sales)
$300
60%
$250
50%
$240
$200
$214
$208
40%
$150
$339
$144
30%
$100
20%
$50
10%
2014
2015
2016
2017 YTD
2014
2015
2016
2017 YTD
($ in millions)
Capital Expenditures
$80
$60
$64
$57
$59
$40
$20
(Adj. EBITDA - Capex) / % of Adj. EBITDA
($ in millions)
(% of Adj. EBITDA)
$200
90%
$181
$150
$150
$151
$100
$30
$50
2014
2015
2016
2017 YTD
80%
70%
$114
60%
50%
2014
2015
2016
2017 YTD
Rayonier has historically generated strong Adjusted EBITDA* margins and high Adjusted
EBITDA-to-free cash flow conversion.
Rayonier
Non-GAAP measure or pro forma item (see Appendix for definitions and reconciliations).
Investor Relations | August 2017
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