Empresas CMPC S.A. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
March 08, 2017
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Empresas CMPC S.A. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported Sales was $1,271,083,000 against sales of $1,249,475,000 a year ago. EBITDA was $219,668,000 against EBITDA of $312,593,000 a year ago. Operating income was $60,478,000 against operating income of $192,418,000 a year ago. Net loss was $162,168,000 against net income of $81,960,000 a year ago. Net cash flows from operating activities were $228,515,000 against net cash flows from operating activities of $316,819,000 a year ago. Purchases of property, plant and equipment was $114,580,000 against purchases of property, plant and equipment of $99,942,000 a year ago. Net debt of 3,573 million against net debt of 3,491 million a year ago. Higher operating costs at the Pulp division and lower revenues in US Dollars at the Tissue division resulted in lower EBITDA contribution quarter on quarter. Capital expenditures during the quarter were mainly related to the Maule and Laja projects, as well as maintenance capex.
For the full year, the company reported Sales was $4,865,737,000 against sales of $4,841,141,000 a year ago. EBITDA was $966,208,000 against EBITDA of $1,099,007,000 a year ago. Operating income was $359,370,000 against operating income of $675,400,000 a year ago. Net loss was $18,193,000 against net loss of $6,980,000 a year ago. Net cash flows from operating activities were $895,115,000 against net cash flows from operating activities of $962,563,000 a year ago. Purchases of property, plant and equipment was $440,547,000 against purchases of property, plant and equipment of $722,879,000 a year ago. Net debt of 3,573 million against net debt of 3,491 million a year ago. Year on year, lower EBITDA in the Pulp division, mainly due to lower pulp prices, and in the Paper division, as a result of lower sales volumes and prices, were the main drivers behind the decline in EBITDA.
Empresas CMPC SA is a Chile-based company primarily engaged in the paper products industry. The Companyâs activities are divided into five business segments: Forestry, which includes products that are logs for the manufacturing of cellulose pulp and solid lumber products, such as sawn lumber, remanufactured products and plywood boards; Pulp, which provides pulp manufactured in production lines in Chile and Brazil; Paper, which focuses on the production and marketing of cardboard, paper for corrugation , industrial-use paper and newsprint; Tissue, which is responsible for producing and selling tissue, sanitary and specialized hygienic products, such as toilet paper, napkins, baby diapers and facial tissues, and Other, which includes general administrative services. The Company operates in Argentina, Colombia, Mexico, Peru and Ecuador, among others. It controls a number of subsidiaries, such as CMPC Celulosa SA, Cartulinas CMPC SA, Chimolsa SA La Papelera del Plata SA.