CHILE - Masisa, a Chile-based producer and marketer of wood products, reported its third consecutive quarter with a positive bottom-line result, reaching a profit of USD 18.8 million as of September 2021, in contrast to the loss of USD 74.8 recorded in the same period of the previous year.

As of September 30, 2021, Masisa's recurring EBITDA recorded an increase of USD 35.7 million compared to the same period of the previous year, reaching USD 54.6 million, as a result of the increase in demand and improvement in margins due to the focus on products with higher added value and cost efficiencies associated with the execution of the strategic plan. This was the fifth consecutive quarter of EBITDA growth, reaching an EBITDA of USD 66.3 million in the last twelve months.

Income from ordinary activities as of September 2021 was USD 321.6 million, a decrease of USD 152.3 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 USD 76.8 million compared to September 2020 (+31.3%).

The increase in recurring revenues is explained by the combined effect of the improvement in the average price of the main commercial solutions due to the focus on higher value-added products and the increase mainly in sales volumes in the Furniture and Interiors and Mouldings segments.