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Empresas CMPC (CMPC) investor relations material
Empresas CMPC Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Pulp price recovery and efficiency gains at Softys drove quarterly performance, while Biopackaging faced margin pressure from oversupply and seasonality.
Sales rose 5% quarter-over-quarter, led by Softys' volume recovery in Brazil and Mexico and higher hardwood pulp prices.
Net income dropped 65% quarter-over-quarter and 89% year-over-year, mainly due to foreign exchange losses from BRL and MXN appreciation and lower hyperinflation adjustments.
Asset monetization and efficiency initiatives are underway to strengthen the balance sheet and reduce leverage.
Significant progress was made on the Natureza port project and innovation with the inauguration of Chile’s first lignin pilot plant.
Financial highlights
Consolidated sales reached $1,916 million, up 5% quarter-over-quarter and flat year-over-year.
Adjusted EBITDA was $270 million (14.1% margin), up 6% quarter-over-quarter, down 19% year-over-year.
Net income was $9 million, down 65% quarter-over-quarter and 89% year-over-year.
CapEx was $170 million, down both quarter-over-quarter and year-over-year.
Operating cash flow rose to $344 million, up 55% quarter-over-quarter and 25% year-over-year.
Outlook and guidance
Management expects leverage to decline in coming quarters, driven by improved results, cash flow, and asset monetization.
Biopackaging is expected to benefit from operational and efficiency initiatives toward year-end.
The Natureza investment decision remains subject to value creation and prudent risk management principles.
Asset monetization program continues to strengthen the balance sheet and support investment-grade rating.
No change in CapEx guidance, but ongoing focus on efficiency and strict cash use.
- Net income dropped 33.5% QoQ and 50.2% YoY as maintenance and costs weighed on results.CMPC
Q1 2026 - Sustainable pulp and tissue leader drives growth with innovation, strong brands, and green finance.CMPC
Corporate presentation - Strong sales, top market share, and ambitious sustainability drive global leadership.CMPC
Corporate presentation - Sustainable pulp and packaging leader with strong growth, innovation, and ESG performance.CMPC
Corporate presentation - Q4 2025 sales and EBITDA were stable QoQ, net income surged, and leverage is set to improve.CMPC
Q4 2025 - Earnings and margins fell sharply, but $1B in hybrid bonds improved liquidity.CMPC
Q3 2025 - Natureza project and Softys drive sustainability, innovation, and cost leadership in Latin America.CMPC
Investor Day 2024 - EBITDA margin rose to 20% as pulp outperformed, while net debt/EBITDA improved to 3.75x.CMPC
Q2 2024 - Q4 2024 sales and net income dropped, but EBITDA and pulp volumes rose; leverage improved.CMPC
Q4 2024
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