CHILE – Arauco recorded a decline in sales revenue in 2023, totaling USD 6,011.8 million, representing a 15.4% decrease compared to the same period in 2022 (USD 7,102.1).

The adjusted EBITDA for 2023 stood at USD 1,026.0 million, signaling a significant 52.6% decrease or USD 900.5 million less than in 2022.

In terms of net profit, Arauco experienced a loss of USD 358.5 million in 2023, marking a decrease of USD 1,062.7 million compared to 2022.

Within Arauco’s wood products division, sales revenue for 2023 amounted to USD 3,210.3 million, showing a 21.9% decrease compared to 2022 (USD 4,110.8 million).

During 4Q-2023, Sales volume of Arauco’s wood panels decreased 5.4%, partially offset by a 0.3% increase in average prices during the quarter.

In North America, although the overall panel market consumption was slower than expected, their were  indications of improving demand in some products (PB & TFL). There is still some excess available supply vs demand in some products such as MDF and Plywood. There was downward pressure on prices and volumes, especially in MDF, due to depressed economies and excess supply, especially in the Brazilian market.