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.