CHILE  –  Masisa, the chilean wooden panel manufacturer, reported its results for the first quarter 2022 (1Q-2022).

Sales revenue reached USD 121.9 million, 26.6% above the same period last year. EBITDA reached USD 31.3 million compared to USD 13.6 million in the 1Q-2021 (+130.1%).

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.