CHILE - Arauco, one of the largest global wooden panel manufacturers, reported that sales revenues reached USD 1,879.4 million in the third quarter of 2022 (3Q-2022).
A increase of 10.2% when compared to the 3Q-2021. Arauco remained with strong revenues in both pulp and wood products segments as it was in the second quarter.
Adjusted EBITDA for the 3Q-2022 was USD 553.0 million, a 40.1 % decrease when compared to the 3Q-2021.
Arauco´s net income (profit) for the third quarter of 2022 was USD 248.9 million, a decrease of 51.3% compared to 3Q-2021 (USD 511.5 million).
In most of the third quarter, wooden panels sales remained at good levels with prices and volumes showing minor variations. At the end of the quarter, markets started to reflect the effects of inflation, higher rates and more export volumes from Brazil.
On September 27, 2022, the Company’s Board of Directors approved the decision adopted by its subsidiary ARAUCO INDUSTRIA DE MÉXICO, S.A. DE C.V., to carry out the construction of a new production line of MDF boards, to be located in its industrial complex located in Zitacuaro, Michoacán, Mexico.
The aforementioned project contemplates an estimated investment of USD 235 million, and will incorporate state-ofthe-art operational, environmental and security technology.
Arauco estimates that once operating, this project would add approximately 300,000 cubic meters to the production of MDF per year, of which 150,000 cubic meters would be melamine to respond to the increasing demand from the furniture, construction and decoration business in Mexico.
On October 18th , Arauco submitted the environmental impact form to the Environmental Assessment Service (“Servicio de Evaluación Ambiental”) to develop an OSB Manufacturing Mill in the region of Ñuble, Chile. The Company foresees a potential USD 280 million investment with an estimated production capacity of 360,000 cubic meters per year.
