CHILE - Masisa S.A. has released its financial results for the year ended December 31, 2023.
During this period, the company recorded total sales of USD 297.55 million, 34.9% below the previous year's USD 457.27 million.
With respect to sales volumes in m3 of the Wood-based panels and derivatives business as of December 2023, there was a 27.2% decrease compared to the previous year, as a result of the economic slowdown in the North American and Chilean markets.
EBITDA in 2023 was USD 21.4 million, affected by macroeconomic impacts, high inflation and interest rates, which implied sharp drops in demand in different industries and markets.
On December 26, 2023, Forestal Terranova México S.A. de C.V., Masisa's Mexican subsidiary, signed an asset purchase agreement with the Mexican company Duraplay S.A.P.I. de C.V. through which it sold the land, buildings, machinery and equipment belonging to that company's Chihuahua plant.
At the bottom line level, the Company recorded a Loss of USD 52.4 million as of December 2023, affected by the lower operating result and mainly by non-recurring effects (USD 42.4 million) associated with the loss from the divestment process of the Chihuahua plant in Mexico, optimization and restructuring of processes and provision for contingencies in Colombia.
