CHILE - Masisa reported its results at the end of 2022.

Sales revenues in 2022 amounted to USD 501.1 million, an increase of 14.1% compared to the previous year (2021: USD 439.1 million). The increase in revenues is mainly explained by the improvement in the Company's average business price.

With respect to sales volumes in m3 of the panels and by-products business in 2022, there was a decrease of 12.0% compared to the same period of the previous year, due to the decrease in the volume of wooden panels 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.

EBITDA reached USD 111.2 million, which represents an increase of 52.7% compared to the previous year (2021: USD 72.8 million), mainly as a consequence of the improvement in its sales margins.

EBITDA margin grows from 16.6% in 2021 to 22.2% in 2022, due to the focus on higher value-added products and cost efficiencies.

At the bottom line level, the Company recorded a loss of USD 167.3 million as of December 2022, explained by the sale of the Argentine subsidiaries. This extraordinary loss amounts to USD 248.9 million.