Investor Relations - Timber and Real Estate Performance
Overview of Acquisition Strategy
Location
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Timber end markets with favorable supply/demand tension
Well-developed infrastructure, access to ports and other transportation hubs
Asset Quality
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Softwood investments in regions with strong biological growth
Complementary age-class distribution that improves sustainable harvest
Optionality
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Fee simple ownership; avoid wood supply agreements
Ability to market timber through delivered log or stumpage sales
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Ability to enhance returns through intensive silviculture and genetics
Properties with HBU and non-timber income upside potential
Value Creation
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■ Accretive to Cash Available for Distribution (CAD)*
Financial Profile
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Focus on acquisitions with returns in excess of our cost of capital
Rayonier * Non-GAAP measure or pro forma item (see Appendix for definitions and reconciliations).
Investor Relations | May 2017
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