Q1 2025 Empresas CMPC SA Earnings Call Transcript
Key Points
- Empresas CMPC SA (XSGO:CMPC) reported a net income of $50 million in the first quarter of 2025, a significant increase from the $10 million in the previous quarter.
- The Pulp business achieved an EBITDA of $192 million with a margin of 24.5%, reflecting a 7% year-over-year increase due to higher sales volumes and operational efficiencies.
- The Bio-packaging segment saw a 63% increase in EBITDA quarter-over-quarter, driven by cost and operational efficiencies.
- The company achieved a positive free cash flow of $85 million in the first quarter, a substantial improvement from the outflows in previous quarters.
- Empresas CMPC SA (XSGO:CMPC) was ranked among the top 1% of companies worldwide in the S&P Global Sustainability Yearbook for the second consecutive year, highlighting its commitment to sustainability.
- Consolidated sales for the first quarter of 2025 were $1.8 billion, down 6% quarter-over-quarter and 7% year-over-year, reflecting lower revenues across all business segments.
- The Softys business reported a 51% year-over-year decline in EBITDA, impacted by increased competition and currency fluctuations.
- The Biopackaging segment experienced a 6% year-over-year decline in EBITDA due to lower average prices.
- Net debt increased to $4.8 billion, with a net debt-to-EBITDA ratio of 3.41x, indicating a higher leverage level.
- The company faces uncertainty in the Pulp market, particularly in China, due to unclear price scenarios and potential impacts from the trade war.
Hello, everyone. I'm Fernando Hasenberg, CFO of CMPC, and I would like to welcome you to our first quarter 2025 earnings webinar. Joining me today, I have Francisco Ruiz-Tagle, CEO of CMPC; Gonzalo Darraidou, CEO of Softys; Guilherme Viesi, Chief Commercial Director of Pulp business; and Claudia Cavada, our Investor Relations Officer.
Please note that the statements made today during the presentation and Q&A may include forward-looking statements to assist you in understanding our expectations for future performance. These statements are subject to some risks and could cause actual results and events to materially differ.
In the first quarter of 2025, sales amounted $1.8 billion. EBITDA was $278 million, and net income was $50 million. The Pulp business generated an EBITDA of $192 million with an EBITDA margin of 24.5%. EBITDA decreased by 17% quarter-over-quarter, mainly from lower sales volumes and average prices. Year-over-year, EBITDA increased by 7%, reflecting a higher volume and
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