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Empresas CMPC
Empresas CMPC (CMPC) investor relations material
Empresas CMPC Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary30 Jan, 2026
Executive summary
Fourth quarter 2025 sales reached $1.9 billion, up 1% quarter-over-quarter, with net income of $37 million and consolidated EBITDA of $262 million, driven by pulp growth and supported by higher biological asset income and lower tax expenses.
Pulp business led growth with higher international prices and increased hardwood sales, while Softys and Biopackaging faced competitive and demand pressures.
The company advanced the Natureza Project, secured a port concession in Brazil, and continued environmental permitting.
Achieved AAA rating from CDP for environmental performance and was recognized as the world’s most sustainable forestry company by Dow Jones Index.
Changed accounting policy for forestry land valuation to fair value, increasing assets and equity.
Financial highlights
Pulp EBITDA was $168 million (21.9% margin), Softys $107 million (12.4% margin, up 13% QoQ), and Biopackaging $7 million (2.8% margin, down sharply QoQ and YoY).
Net income increased to $37 million from $34 million in Q3 and $10 million in Q4 2024, driven by higher EBITDA and favorable exchange rates.
Adjusted EBITDA margin was 13.8% in 4Q25, down from 14.0% in 3Q25 and 17.3% in 4Q24.
Operating costs and other operating expenses rose 1% and 4% QoQ, respectively.
CapEx for the quarter was $179 million, down from $261 million YoY due to lower maintenance expenses.
Outlook and guidance
All 2026 pulp volumes are contracted, with over-demand in some regions; hardwood market outlook is positive, while softwood remains challenging.
Softys expects continued margin improvement through price increases, cost efficiencies, and distribution network expansion, despite overcapacity in Brazil and Mexico.
Biopackaging anticipates gradual recovery as operational issues are addressed and market conditions stabilize.
Management expects leverage ratios to improve in 2026, targeting a Net Debt/EBITDA range of 2.5x–3.5x, supported by operating cash flow and asset sales.
Ongoing asset monetization and operational improvements are expected to support financial resilience.
Natureza port CapEx: Is it in the $4.6B budget?
Softys margin expansion drivers and sustainability
Biopackaging long-term margin outlook and strategy
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Next Empresas CMPC earnings date
Q1 20268 May, 2026
Empresas CMPC
Next Empresas CMPC earnings date
Q1 20268 May, 2026
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Frequently asked questions
Empresas CMPC S.A. is a pulp and paper company engaged in the production and distribution of forestry, paper, packaging, and tissue products. The company operates across multiple segments, including industrial packaging, printing paper, and consumer hygiene products, serving both domestic and international markets. Its products are used in industries such as publishing, consumer goods, and logistics. The company is headquartered in Santiago, Chile, and its shares are listed on the BCS.
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