Chile · Delayed Price · Currency is CLP Empresas Copec Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 saw EBITDA decline 7% year-over-year to $599M, but net income rose due to record results from Mina Justa, including a one-time gain. Major projects like Sucuriú and panel expansions are ahead of schedule, and energy and mining segments delivered strong performances.
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Q3 2025 saw EBITDA fall 15.9% year-on-year due to weak forestry, but energy and mining divisions delivered strong growth. Major projects like Sucuriú and Mina Justa advanced, with financing secured and no supply issues expected. Debt and CapEx rose in line with project progress.
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EBITDA for Q2 2025 fell 7.5% year-over-year to $712 million, mainly due to lower forestry results, while energy and mining segments performed strongly. Sucuriú project advanced to 13.2% completion, and leverage remains within target despite high CapEx.
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EBITDA rose 20% quarter-on-quarter to $774 million, led by strong energy results and the first-time consolidation of Gasib. Forestry faced lower pulp prices, while CapEx focused on the Sucuriú project. ESG milestones included a $500 million sustainable bond and carbon neutrality for Duragas.
Fiscal Year 2024
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Q4 2024 EBITDA was $644 million, stable year-over-year but down sequentially, with full-year EBITDA above $3 billion and net income of $1.1 billion. Major projects like Sucuriú and the Gasib acquisition progressed, while market volatility and tariff risks remain key uncertainties.
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EBITDA rose 27% year-over-year to $760 million, with net income boosted by asset sales and strong forestry and energy results. Major investments include the Sucuriú pulp mill and new energy infrastructure, while debt and leverage improved significantly.
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Sucuriú, a $4.6 billion pulp mill in Brazil, will boost capacity, efficiency, and sustainability, with first production expected in late 2027. The project is fully financed through equity, cash flow, and debt, and will position the company as a top global hardwood pulp producer.
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Sucuriú, a $4.6 billion, 3.5 million ton pulp mill in Brazil, will significantly boost capacity, diversify production, and enhance competitiveness with industry-leading costs and sustainability standards. Financing is secured through a mix of equity, debt, and a temporary dividend cut.
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EBITDA rose 78% year-over-year to $768M, with strong forestry and energy results, while net income also increased. Major developments include a €275M LPG acquisition in Europe, a $1.2B asset sale in Brazil, and robust ESG progress. Net debt/EBITDA improved to 3x.