Empresas CMPC S.A. announced its unaudited results for 1Q 2018. Total revenue was $1,495 million for the quarter, up 14% compared to 4Q 2017, and 23% compared to 1Q 2017. Year-on-year, revenues increased 45% in Pulp and 6% in Tissue and Papers. Higher pulp prices were the primary driver for the sales increase in 1Q 2018, with higher pulp volumes and higher prices for paper and tissue also contributing, as the company said in the press release received by Lesprom Network.
EBITDA totaled $399 million during the 1Q, up 56% quarter-on-quarter and 90% year-on-year. EBITDA margin of 26.7%, up from 19.5% in 4Q 2017 and 17.3% in 1Q 2017. The 90% year-on-year increase in EBITDA was mainly due to a $204 million (157%) increase in Pulp EBITDA, partially offset by the $9 million (-27%) decline in Paper EBITDA and $2 million (-4%) decrease in Tissue EBITDA. Higher Pulp EBITDA primarily reflects increased pulp prices, while the lower Tissue and Paper EBITDA mainly reflects higher fiber costs.
CMPC reported a net income of $144 million in 1Q 2018, compared to a net income of $6 million in 4Q 2017 and a net loss of $18 million in 1Q 2017.
Empresas CMPC produces forestry, pulp, paper, tissue and packaging products throughout Latin America.
