CHILE – Masisa, the chilean wooden panel manufacturer, reported its results for the first quarter 2022 (1Q-2022).
Likewise the company reported net income (profit) of USD 18.2 million, a considerable improvement compared to the same period last year (USD 3.2 million).
Financial expenses decreased by 22.5% compared to 1Q-2021, mainly due to the lower stock of financial debt and efficiencies in financing costs.
The above is a consequence of the improvement in margins due to the focus on higher value-added products and cost efficiencies associated with operational improvement plans. value-added products and cost efficiencies associated with operational improvement plans.
The decrease in board volumes from 162.8 thousand cubic meters in 1Q-2021 to 135.1 thousand m3 in 1Q-2022 is mainly explained by higher stoppages of the board production lines in Chile.
In 1Q-2022, investments amounted to USD 2.3 million, which will be increased in the coming months to drive growth.
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