CHILE – CMPC’s consolidated Net Loss during the first semester 2015 stood at USD 49 million, compared with a Net Income of USD 138 million in the first half of 2014. 

The loss is caused by a higher charge on the deferred tax provision of USD 92 million, and a USD 40 million loss due to the effect of forest fires in the southern part of Chile at the beginning of the year.

Total revenues were USD 2.351 million, 2% lower compared to the same period of 2014, mainly due decrease in pulp, boxboard and energy sales. The above was partially offset by an increase in plywood sales, and also from higher sales on the Tissue Business, which operates in 8 countries in Latin America.  As a consequence, the EBITDA as of June 30th was USD 455 million, 8% lower compared to the same period in 2014.

The CEO Hernan Rodriguez also noted that in the first half of the year and in line with its schedule, the second production line at the Guaíba mill in Brazil started operations. This project, the largest in CMPC’s history, will increase pulp production capacity in 46%, from 2.8 to 4.1 million tons per year. As of July 31st, the new line produced 156.000 tons of pulp, of which 81.000 had been sold to the clients. It is expected that the mill will reach normal production during the last quarter of this year.