CHILE - As of June 30, 2021, Masisa's recurring EBITDA more than doubled compared to the same period of the previous year, reaching USD 31.8 million in the first half of 2021, compared to USD 10.7 million in the first half of 2020.

This is the result of an increase in demand associated with the normalization of the economy following the deconfinements and an increase in margins associated with the value-added product mix and cost efficiency.

Masisa's sales revenues as of June 2021 were US$204.6 million, a decrease of

USD 175.4 million compared to the same period of the previous year. This decrease is explained by a non-recurring effect associated with higher revenues following the divestment of the Chilean forestry assets in June 2020. Excluding this effect, consolidated sales revenues increased by US$53.7 million compared to June 2020 and totaled USD 150.9 million (+35.6%).

At the bottom line level, the Company recorded a profit of USD 4.7 million, which compares to a loss of USD 36.3 million in the same period of the previous year.

Gross financial debt decreased from USD 483.1 million in June 2020 to USD 142.0 million in June 2021. This is the result of the financial restructuring completed in the second half of 2020.

Masisa has 2 industrial complexes in Chile with an installed capacity of 877,000 m3 per year for the manufacture of boards, 350,000 m3 per year for the coating of boards with melamine papers, in addition to 21,000,000 m2 per year for the painting of boards and 233,266 m3 per year for the manufacture of MDF moldings.

It also has a total annual capacity of 211,200 m3 of sawn lumber.

The company also has an industrial complex in Mexico with an installed capacity of 180,000 m3 per year for the manufacture of boards and a total installed capacity of 89,000 m3 per year of melamine coating lines, which allows it to serve the Mexican and U.S. markets.

In Argentina, Masisa owns 73,500 hectares of forestry land, of which 45,100 hectares are plantations and forests, mostly pine and eucalyptus.