CHILE – Arauco, one of the largest wooden panel manufacturers in the world, reported that sales revenues reached USD 1,555.6 million during the second quarter of 2021, a 48.2% increase compared to the second quarter of 2020 (USD 1,049.9).
Arauco’s net income was USD 201.4 million, a USD 257.4 million increase compared to the second quarter of 2020 (-USD 55.9 million). This is mainly explained by a higher operational result due to higher average prices, as well as a slight decrease in cost of sales.
Sales revenues from wooden panels increased when compared to the first quarter, mainly as a result of a 9.7% increase in average prices. Sales volumes increased 1.6%.
During the second quarter, the market demand for wooden panels continued to rise. The foregoing is explained by an increase in demand for products of home improvement and remodeling, the reactivation of construction projects and by government measures that have favored consumption.
On May 12, 2021, Forestal Arauco S.A., a subsidiary of the Company, executed a master agreement, by means of which it agreed to sell to a third party, 461 forest properties that include a total of 80,489 hectares, of which 61,742 are productive hectares, for a total price of USD 385.5 million plus the corresponding Value Added Tax.
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