Empresas CMPC S.A. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
November 02, 2017
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Empresas CMPC S.A. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company's sales were $1,338,322,000 compared to $1,245,389,000 a year ago. EBITDA was $322,862,000 compared to $264,197,000 a year ago. The higher sequential EBITDA resulted from increased EBITDA in all business divisions, with a 34% increase at the Paper division, 18% increase at the Tissue division and 7% increase at the Pulp division. Operating income was $158,000,000 compared to $103,538,000 a year ago. Net income was $88,669,000 compared to $36,523,000 a year ago. Net income attributable to owners of the parent was $88,650,000 compared to $36,592,000 a year ago. Net cash flows from operating activities was $340,586,000 compared to $219,645,000 a year ago. Purchases of property, plant and equipment was $100,395,000 compared to $103,757,000 a year ago. CAPEX was $126 million compared to $141 million a year ago. These capital expenditures are mainly related to forestry maintenance, and disbursements related to the Laja, Maule and Cañete project. Also, the repairs of the recovery boiler of the Guaíba II mill accounted for approximately $19 million during the quarter.
For the nine months, the company's sales were $3,831,082,000 compared to $3,594,654,000 a year ago. EBITDA was $821,895,000 compared to $746,540,000 a year ago. Operating income was $360,143,000 compared to $298,892,000 a year ago. Net income was $96,457,000 compared to $143,975,000 a year ago. Net income attributable to owners of the parent was $98,232,000 compared to $143,955,000 a year ago. Net cash flows from operating activities was $910,000,000 compared to $666,600,000 a year ago. Purchases of property, plant and equipment was $272,645,000 compared to $325,967,000 a year ago. CAPEX was $345 million compared to $418 million a year ago. Net financial debt stood at $3,229 million as of September 30th, 2017, down 4% compared to June 30, 2017, and 11% compared to September 30th, 2016.
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.