CHILE - Arauco, one of the largest forestry companies in the world, reported sales revenue of USD 1,049.9 million during the second quarter of 2020 (2Q-2020), a drop of 22.3 percent compared to the second quarter of 2019 (USD 1,351.6 million).

The company's Adjusted EBITDA reached USD 205.8 million in 2Q-2020, a decrease of 40.1 percent or USD 137.5 million compared to the same period in 2019(USD 343.3 million), and net income was a loss of USD 55.9 million, compared to a profit of USD 57.4 million in 2Q-2019.

In 2Q-2020, the volume of wood panels sold decreased 23.3 percent compared to the same period in 2019. Plywood sales volume decreased 4.0% during the second quarter as prices increased in the period primarily due to increased demand from major markets and supply disruptions associated with the pandemic.

After a very complex second quarter Arauco reported an improvement in sales volumes and prices for the particleboard and MDF markets. The company expects to reach normal levels during August, recognizing that uncertainty persists about how the COVID-19 situation will evolve.