Latest news with #EmpresasCopec
Reuters
4 days ago
- Business
- Reuters
Forestry giant Copec's profit dips as revenue beats forecasts
Aug 14 (Reuters) - Chilean industrial conglomerate Empresas Copec ( opens new tab on Thursday posted an 21% drop in second-quarter profit although revenue surpassed expectations, as the forestry giant faces falling pulp prices and impacts from the U.S.-China trade war. Net profit for the three months ended June hit $228 million - in line with forecasts of analysts polled by LSEG - from revenue that edged down 1% to $7.18 billion. However, revenue for Copec, which owns a large forestry business as well as fuel distribution, mining and fishing operations, landed ahead of analysts' $6.84 billion estimate. Copec attributed the decline in sales largely to lower prices for pulp - a raw material used in a range of products such as paper, packaging and some textiles - though it partially offset this by selling off larger volumes. Copec said China faced an oversupply of pulp even though domestic consumption and demand remained strong, while in Europe, an oversupply had combined with a lower use of "almost all grades of paper", causing some paper mills to shut down. "The dissolving pulp market has been affected by the trade war between the United States, China, and other Asian textile-producing countries," it added. Copec said its forestry subsidiary Arauco sold nearly 8% more pulp compared to the same quarter last year, but prices were down more than 12%. Arauco contributes the bulk of earnings for Copec, which last year counted over 9,360 square km (3,614 square miles) of land planted mainly with eucalyptus and pine forests across Brazil and South America's Southern Cone - an area larger than the U.S. territory of Puerto Rico. Washington has slapped a 50% tariff on goods from Brazil, but excluded some major exports, including various types of wood pulp, sawn wood and paper products.
Reuters
5 days ago
- Business
- Reuters
Forestry giant Copec's profits dip even as revenues beat forecasts
Aug 14 (Reuters) - Chilean industrial conglomerate Empresas Copec ( opens new tab on Thursday posted an 21% drop in second quarter profit, landing at $228 million, from revenues that edged down 1% to $7.18 billion. Revenues for the firm, which owns a large forestry business as well as fuel distribution, mining and fishing operations, nevertheless landed comfortably ahead of those expected by analysts polled by LSEG, who had forecast just $6.84 billion. Profits landed in line with their estimates.
Reuters
13-05-2025
- Business
- Reuters
Copec says China pulp market could be challenging in face of US tariffs
May 13 (Reuters) - Chilean industrial conglomerate Empresas Copec ( opens new tab said on Tuesday that the Chinese market for its forestry products could become more challenging if paper makers struggle to boost sales amid uncertainty over U.S. tariff policies. "Most of our customers that export, especially to the U.S., really don't know what the price of their goods is going to be," said Cristian Infante, who heads Copec's forestry arm Arauco ( in a presentation. "So they're trying to buy as little as possible." Arauco, which sells pulp and wooden panels worldwide, contributes the bulk of Copec's earnings, but saw its core earnings dip over 22% in the first three months of 2025 as pulp prices fell and it shipped smaller volumes. Infante warned that prices could continue to go down in May. "When Chinese customers feel that the prices are close to the bottom, they will start talking. When that will be, that's a very good question," he added, noting that recent news on talks between the U.S. and China had made futures markets jump. Regarding Copec's U.S. market, Infante said he considered the market stable for the time being, although costs had increased for components of resins used in wood panels amid volatility over new import tax policies. "I wouldn't say it's booming," he said. "All this volatility that we've seen due to the tariff issue has affected the market." In Europe, meanwhile, Copec said uncertainty and concerns are growing in the face of the possible implementation of new U.S. tariffs and potential trade conflicts with other countries.
Reuters
27-02-2025
- Business
- Reuters
Industrial giant Copec posts Q4 profit up 15%
Feb 27 (Reuters) - Chilean industrial conglomerate Empresas Copec ( opens new tab on Thursday posted a profit for the last three months of 2024 that rose 15% to $191 million, while revenues dipped 6.4%.
