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INFORMATION BY SECTOR
CEA Dairy Products Sector----------------------------------------------------------------------------(in millions of CDN dollars)----------------------------------------------------------------------------Fiscal years 2013 2012 2011 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4----------------------------------------------------------------------------Revenues 1,057.6 1,020.7 1,025.0 1,009.6 1,042.2 1,032.5 970.2 921.2EBITDA 128.1 122.0 127.8 121.9 131.9 135.7 125.3 113.0----------------------------------------------------------------------------Selected factors positively (negatively) affecting EBITDA(in millions of CDN dollars)----------------------------------------------------------------------------Fiscal years 2013 2012 Q3 Q2 Q1 Q4----------------------------------------------------------------------------Market factors(1)(2) - - - 5Inventory write-down - - (3) -----------------------------------------------------------------------------(1) As compared to same quarter of previous fiscal year.(2) Market factors include the international market pricing impact related to sales of dairy ingredients.USA Dairy Products Sector----------------------------------------------------------------------------(in millions of CDN dollars)----------------------------------------------------------------------------Fiscal years 2013 2012 2011 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4----------------------------------------------------------------------------Revenues 708.9 688.6 640.4 658.9 722.7 723.7 636.5 528.2EBITDA 81.4 90.2 72.2 75.5 72.7 74.4 80.8 81.4----------------------------------------------------------------------------Selected factors positively (negatively) affecting EBITDA(in millions of CDN dollars)----------------------------------------------------------------------------Fiscal years 2013 2012 Q3 Q2 Q1 Q4----------------------------------------------------------------------------Market factors(1)(2) 8 10 (14) (29)US currency exchange(1) (3) 2 3 3----------------------------------------------------------------------------(1) As compared to same quarter of previous fiscal year.(2) Market factors include the average block market per pound of cheese and its effect on the absorption of fixed costs and on the realization of inventories, the effect of the relationship between the average block market per pound of cheese and the cost of milk as raw material, as well as the market pricing impact related to sales of dairy ingredients.Other pertinent information(in US dollars, except for average exchange rate)----------------------------------------------------------------------------Fiscal years 2013 2012 Q3 Q2 Q1 Q4 Q3----------------------------------------------------------------------------Average block market per pound of cheese 1.955 1.750 1.539 1.522 1.760Closing block price(1) per pound of cheese 1.760 2.075 1.650 1.490 1.563Average whey market price(2) per pound 0.620 0.550 0.500 0.630 0.650Spread(3) 0.028 0.060 0.072 0.017 0.023US average exchange rate to Canadian dollar(4) 0.991 0.995 1.010 1.002 1.023----------------------------------------------------------------------------(1) Closing block price is the price of a 40 pound block of cheddar traded on the Chicago Mercantile Exchange (CME) on the last business day of each quarter.(2) Average whey powder market price is based on Dairy Market News published information.(3) Spread is the average block market per pound of cheese less the result of the average cost per hundredweight of Class III and/or Class 4b milk price divided by 10.(4) Based on Bank of Canada published information.Grocery Products Sector----------------------------------------------------------------------------(in millions of CDN dollars)----------------------------------------------------------------------------Fiscal years 2013 2012 2011 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4----------------------------------------------------------------------------Revenues 34.1 36.1 32.9 35.0 31.6 35.2 32.3 31.9EBITDA 3.0 3.4 3.1 3.7 2.7 2.9 3.4 0.1----------------------------------------------------------------------------
