CHILE - Masisa, a Chile-based producer and marketer of wood products, reported excellent results for the first half of 2022 (6M-2022).

The company achieved a profit of USD 35.1 million, compared to USD 4.7 million recorded in the same period of the previous year.

As of June 30, 2022, Masisa's recurring EBITDA improved by USD 35.1 million compared to the same period of the previous year, reaching USD 66.8 million, mainly as a consequence of the improvement in margins.

EBITDA margin grows from 15.5% in 6M-2021 to 25.6% in 6M-2022 due to the focus on higher value-added products and cost efficiencies.

Revenues from ordinary activities as of June 2022 amounted to USD 260.7 million, an increase of USD 56.1 million compared to the same period of the previous year. The increase in sales revenues is mainly explained by the improvement in the Company's average price.

With respect to sales volumes m3 of Boards as of June 2022, there was a decrease of 6.7% compared to the same period of the previous year, due to the decrease in the volume of boards as a result of the economic slowdown in the Chilean market, which was partially offset by the increase in the volume of moldings associated with the better performance in the North American market.

The execution of Masisa's investment plan continues, reaching USD 11.0 million as of Jun'22. Projects associated with new molding lines, operational efficiencies, and ESG issues stand out.