CHILE - Arauco's sales revenue amounted to USD 1,594.9 million in the third quarter of 2023 (3Q-2023), reflecting a 15.1% decrease compared to 3Q-2022.

The adjusted EBITDA for 3Q-2023 was USD 242.6 million, indicating a 56.1% decline or USD 310.4 million less than 3Q-2022.

Arauco's net profit for 3Q-2023 resulted in a loss of USD 173.0 million, marking a decrease of USD 421.9 million compared to 3Q-2022.

Sales revenue from Arauco's wood products division in 3Q-2023 reached USD 815.4 million, showing a 26.9% decrease compared to 3Q-2022 (USD 1,115.5 million).

The average prices and sales volume of Arauco's wood panels (PB, MDF, OSB) decreased by 5.1% and 0.4%, respectively, during 3Q-2023.

The U.S. market experienced reduced demand with a downward trend in prices, accompanied by sustained oversupply across most products throughout the quarter. Increases in Brazilian exports to the rest of the region, especially in MDF, continued.

In South America, the effects of low demand persisted due to a scenario of high inflation, increased interest rates, currency devaluation against the dollar, high inventories, and political uncertainty in some countries.