Arauco's net income up 253.1%
- Details
Chile (Notifix).- Arauco's consolidated sales reached US$913.4 million during the second quarter of 2010, an increase of 24.6% compared to the US$732.8 million obtained in the second quarter of 2009. This increase is mainly explained by higher sales in all business segments, mainly driven by higher sales volume in sawn timber and panels due to reconstruction efforts after the earthquake that struck Chile on February 27, and higher prices in pulp and panels. During the second quarter of 2010, consolidated EBITDA reached US $380.6 million, an increase of 153.1% compared to the US US$ 150.4 million EBITDA obtained during the second quarter of 2009. Arauco's consolidated net income for the second quarter of 2010 reached US$174.7 million, an increase of 253.1% compared to the US$49.5 million obtained in the second quarter of the year before. During the first semester of 2010, the Panels Division sales increased 45% and 32% in volume sales, in comparison to the first semester of 2009.