CHILE – Masisa reported that sales revenues through March 2023 amounted to USD 92.9 million, a decrease of 22.5 percent compared to the same period of the previous year (USD 119.8 million).

The lower revenues are explained by the decrease in the Company's sales volumes, partially offset by a better average price. The above effect is in line with the Company's strategy of privileging margin and value added over sales volumes.

With respect to sales volumes in m3 of the wooden panel and by-products business as of March 2023, there was a decrease of 22.7% compared to the same period of the previous year, as a result of the economic slowdown in the Chilean and North American markets and the stock in customers' warehouses.

EBITDA for the first quarter was USD 11.3 million and profit reached USD 11.6 million, representing decreases of 62.6 percent and 89.8 percent, respectively, compared to the first quarter of 2022.

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 and foils, in addition to 21,000,000 m2 per year for the painting of boards and 235,000 m3 per year for the manufacture of MDF moldings. It also has a total annual capacity of 210,000 m3 of sawn lumber.

The industrial complex in Mexico is located in Chihuahua and consists of a PB board line with an installed capacity of 180,000 m3 per year and a melamine line with an installed capacity of 50,000 m3 per year, which allows it to serve the Mexican and U.S. markets.