Empresas CMPC S.A. (CMPC) Earnings Call Transcripts

Empresas CMPC S.A.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Empresas CMPC S.A. reported sales of $1.8 billion, essentially flat year-on-year but down 4% sequentially. Consolidated EBITDA was $255 million, reflecting a margin of 14.1%, which is a decline of 8% compared to Q1 2025. Management highlighted ongoing cost discipline and the impact of maintenance downtime on production, particularly in the pulp segment, which saw a decrease in sales due to lower volumes, especially in China. The company maintained its investment-grade rating and signaled a focus on improving cash flow and reducing leverage through operational efficiencies and potential asset monetization.

Reported metrics

Guidance from management

Management expects progressive normalization of the net debt to EBITDA ratio throughout 2026, supported by operational efficiencies and working capital optimization. No specific guidance was provided for revenue or EBITDA growth.

What management said

Thank you very much, Claudia. We ended the first quarter of the year with roughly $5 billion of net debt. Net debt to EBITDA stands at 4.1x. We expect progressive normalization through 2026, supported by results evolution, working capital optimization and operational efficiencies. As we have mentioned on previous earnings calls, we are also evaluating asset monetization alternatives that could further strengthen the ...

I think we are talking about paper is a relatively mature market. So the demand will not explode. It's a mature market and companies need to have a very healthy and low cost base. So -- but we do see growth in the paper market at a steady growth, as I mentioned.

What analysts pressed on

Analysts expressed concerns regarding the impact of ongoing maintenance downtimes on production and the potential delays in the Natureza project due to licensing issues. There are worries about the company's ability to maintain margins in a challenging pulp market, particularly with lower demand from China.

Main topics on the call

• Cost Discipline and Margin Recovery — Management noted that 'cost discipline is starting to pay off,' particularly in Biopackaging and Softys, where EBITDA expansion was observed. This reflects a strategic focus on maintaining margins despite production chal...
• Pulp Segment Challenges — The pulp business faced significant headwinds, with sales down 5% sequentially and 7% year-on-year, primarily due to lower volumes sold, particularly in China. Management stated, 'third-party volumes fell 12%,' impacting...
• Natureza Project Timeline — Management indicated that the decision on the Natureza project is delayed due to extended licensing processes, stating, 'we are not deciding this project until some more months.' This reflects a cautious approach amid gl...
• EBITDA and Net Income Decline — Consolidated EBITDA decreased by $23 million year-on-year, with net income at $25 million, down 33% quarter-on-quarter. This was attributed to lower EBITDA from pulp and higher SG&A costs in Softys.

Read the full Empresas CMPC S.A. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 28 Empresas CMPC S.A. earnings call transcripts on record, spanning March 6, 2020 to August 7, 2026. Based on this history, Empresas CMPC S.A. reports quarterly. The most recent call on file is dated August 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CMPC

Exchange

SNSE

Country

CL

Sector

Materials

Industry

Paper and Forest Products

Calls on record

28

First call

March 6, 2020

Most recent

August 7, 2026

Reporting cadence

quarterly