The main variances during this quarter were a decrease in total sales of pulp business, with a 1.3% decrease in average prices and a 1.3% increase in volume sales; a decrease in panels products, mainly explained by a decrease of 1.4% in average prices, partially offset by an increase of 1.2% in volume sales; and an increase in total sales of sawn timber business, with a 7.2% increase in average prices and a 0.5% increase in volume sales.
Compared to the $1,031.2 million obtained in the 3Q 2012, consolidated sales were 29.5% higher, mainly explained by a 65.3% increase in total sales of our panels business, a 16.6% increase in total sales from our pulp business and a 13.8% increase in total sales of our sawn timber business.
Consolidated Adjusted EBITDA for the 3Q 2013 was $319.4 million, 7.7% or $26.5 million lower than the $345.9 million reached during the previous quarter.
This increase is mainly explained by a lower EBIT of 20.1% or $50.7 million compared to the previous quarter. This was partially offset by a $4.5 million decrease in exchange rate differences. In terms of EBITDA by business, during this 3Q of the year the company achieved an increase in its Sawn Timber and Panels divisions of 11.2% and 7.2%, respectively, and a decrease in its pulp and forestry division of 6.9% and 0.9% respectively.
Consolidated Adjusted EBITDA for the 3Q 2013 was higher by 69.1% or $130.5 million than the $188.9 million reached in the same period of 2012.
Net income for the 3Q 2013 was $117 million, a decrease of 28% or $45.5 million compared to the $162.5 million obtained in the 2Q of the year. This is mainly explained by a decrease in Operating income of 15.3% or $25.8, an 11.6% or $11.8 million decrease in Other operating income and a 37.5% or $6.5 million increase in Other operating expenses.
Income tax during the 3Q had a 25% or $9.7 million decrease mainly as a result of lower Pre-tax income.
Compared to the loss of $56.7 million obtained in the 3Q 2012, consolidated net income was $173.7 million higher during the 3Q 2013, mainly explained by a 59.9% or $153 million increase in Gross Margin and an 80.3% or $119.4 million decrease in Income Taxes.
Arauco is one of the major forestry businesses in Latin America in terms of forest ownership, plantations performance and manufacture of market woodpulp, sawn timber and panels.