Investor Relations - Timber and Real Estate Performance
Rayonier Financial Summary: 2014 - 2017 YTD (3/31)
($ in millions)
Pro Forma Sales*
Adjusted EBITDA* / % Margin
($ in millions)
(% of pro forma sales)
$700
$600
$500
$582
$581
$545
$400
$300
$200
$100
$300
60%
$250
50%
$240
$200
$214
$208
40%
$150
30%
$100
20%
$50
$145
$57
10%
2014
2015
2016
2017 YTD
2014
2015
2016
2017 YTD
($ in millions)
Capital Expenditures
$80
$60
$64
$57
$59
$40
$20
$14
2014
2015
2016
2017 YTD
(Adj. EBITDA - Capex) / % of Adj. EBITDA
($ in millions)
(% of Adj. EBITDA)
90%
$200
$181
$150
$150
$151
$100
$50
HI.
80%
70%
60%
$43
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 | May 2017
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