CHILE - Masisa S.A. has released its financial results for the 1Q-2024.

During this period, the company recorded total sales of USD 67.4 million, 17.9% below the same period of last year (1Q-2023: USD 82.1 million). While total sales volume increased by 6.2% compared to the same period, the lower revenues are explained by the drop in sales prices in most markets as a result of the macroeconomic situation, and additionally by an exchange rate effect mainly in the Chilean market.

The sales volume in m3 of the Panels and Derivatives business as of March 2024 remained largely unchanged with respect to the same period of the previous year. However, it did show an improvement with respect to the last quarters of 2023, mainly due to the gradual recovery of the North American market.

As a result, as of March 31, 2024 there was a net loss of USD 8.2 million, due to the lower operating result and non-recurring effects ( USD 3.7 million) associated with the expense generated by the transition process for the sale of the Chihuahua plant in Mexico.