Arauco swings to Q3 net income of US$117M from net loss of US$56.7M in year-ago period, mainly due to 59.9% increase in gross margin and 80.3% decrease in income taxes; net sales up 29.5% year-over-year to US$1.33B

SAO PAULO , November 29, 2013 (press release) – HIGHLIGHTS


• Arauco’s consolidated sales reached US$ 1,334.9 million during the third quarter of 2013, a decrease of 1.7% compared to the US$ 1,358.7 million obtained in the previous quarter. This decrease is mainly explained by lower sales of our pulp and panels division by 3.0%, and 2.5%, respectively

• During the third quarter of 2013, consolidated Adjusted EBITDA reached US$ 319.4 million, a decrease of 7.7% compared to the US$ 345.9 million Adjusted EBITDA obtained during the second quarter of 2013

• Arauco’s consolidated net income for the third quarter of 2013 reached US$ 117.0 million, a decrease of 28.0% or US$ 45.5 million compared to the US$ 162.5 million obtained in the second quarter of 2013

• Capital expenditures during the third quarter of 2013 reached US$ 166.8 million, an increase of 26.1% when compared to the US$ 132.2 million invested during the second quarter of 2013 

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Industry Intelligence editor's note: In an omitted table, Celulosa Arauco y Constitucion SA reported third-quarter 2013 net income of US$117 million and net sales of $1.335 billion compared to third-quarter 2012 net loss of $56.7 million and net sales of $1.031 billion.

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