Empresas COPEC SA (XSGO:COPEC)

Q1 2026 Empresas Copec SA Earnings Call Transcript

May 11, 2026 / 03:00 PM GMT

Release Date Price: CLP6190 (-0.32%)

Transcript

Key Points

Positve

Empresas COPEC SA (XSGO:COPEC) reported an adjusted EBITDA of $880 million, marking an 11% year-on-year and 23% quarter-on-quarter increase.
The energy division showed strong performance with an EBITDA of 571 million, driven by inventory revaluation effects and higher contributions from lubricants.
The company is making significant progress on the SuperDO project in Brazil, with construction progress at 73% and railway progress at 16%.
Mina Justa continues to perform well, generating an EBITDA above $200 million for the quarter, benefiting from a favorable copper pricing scenario.
Empresas COPEC SA (XSGO:COPEC) maintains a well-balanced debt schedule, with net debt-to-EBITDA decreasing to 3.1, indicating strong credit metrics.

Negative

The forestry division experienced a decline in EBITDA, primarily due to lower pulp prices and increased costs.
Wood products had a weak quarter with a significant drop in EBITDA to $84 million, attributed to decreased sales volumes for solid wood.
The market outlook remains challenging due to global volatility, including disruptions from geopolitical tensions and fluctuating energy prices.
Fuel demand may be impacted by recent price hikes, with potential longer-term effects on customer behavior and fuel volumes.
The company faces risks of CapEx overruns and higher production costs for the SuperDO project due to high energy prices and currency fluctuations.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

COPEC.SN - Empresas Copec SA
Q1 2026 Empresas Copec SA Earnings Call
May 11, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone, and welcome to Impresas Copec's first quarter 2026 results conference call.

Today's presentation and the first quarter 2026 earnings release are available on the company's investor relations website, investors.impresascopec.cl.

Before we begin, I would like to remind you that this presentation may include market outlooks and forward-looking statements, which are based on the beliefs and assumptions of Impresa Scopec management and on information currently available to the company.

They involve risks, uncertainties, and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur in the future.

Investors should understand that

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