ARAUCO & CONSTITUTION PULP INC

CIK:0001004156|SEC Filings

CONSOLIDATED STATEMENTS OF PROFIT OR LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statements of profit or loss
Revenue	$ 6,084,142	$ 6,546,146	$ 6,011,819
Cost of sales	(4,546,861)	(4,634,149)	(4,744,095)
Gross profit (loss)	1,537,281	1,911,997	1,267,724
Other income	324,023	597,061	573,017
Distribution costs	(677,734)	(695,377)	(693,039)
Administrative expenses	(560,830)	(565,027)	(624,326)
Other expense by function	(130,280)	(212,213)	(480,336)
Profit (loss) from operating activities	492,460	1,036,441	43,040
Finance income	62,560	66,355	131,666
Finance costs	(409,724)	(397,923)	(373,496)
Share of profit (loss) of associates and joint ventures accounted for using equity method	(3,865)	(45,792)	7,709
Gains (losses) on exchange differences on translation	(60,748)	(12,400)	(194,739)
Profit (loss) before income tax	80,683	646,681	(385,820)
Income tax benefit (expense)	(39,804)	(170,400)	27,293
Net profit (loss)	40,879	476,281	(358,527)
Net profit (loss) attributable to
Net profit (loss) attributable to owners of parent company	41,300	476,470	(358,560)
Net profit (loss) attributable to non-controlling interests	(421)	(189)	33
Net profit (loss)	$ 40,879	$ 476,281	$ (358,527)
Basic earnings (loss) per share
Basic earnings (loss) per share from continuing operations	$ 0.3295	$ 3.9241	$ (2.9762)
Basic earnings (loss) per share	0.3295466	3.9240555	(2.9762352)
Diluted earnings (loss) per share
Diluted earnings (loss) per share from continuing operations	0.3295	3.9241	(2.9762)
Diluted earnings (loss) per share	$ 0.3295466	$ 3.9240555	$ (2.9762352)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Classes of cash receipts from operating activities
Receipts from sales of goods and rendering of services	$ 6,676,865	$ 6,854,709	$ 6,211,313
Receipts from rents and subsequent sales of such assets	38,222	23,075	16,509
Other cash receipts from operating activities	751,132	840,543	702,283
Classes of cash payments
Payments to suppliers for goods and services	(5,074,341)	(5,238,597)	(5,049,907)
Payments to and on behalf of employees	(687,836)	(626,122)	(736,789)
Payments to manufacture or acquire assets held for rental to others and subsequently held for sale	0	(2,638)	(10,848)
Other cash payments from operating activities	(262,668)	(308,264)	(174,824)
Interest paid	(379,666)	(362,234)	(328,317)
Interest received	61,240	65,114	137,480
Income taxes (paid) refunded	(76,592)	(69,848)	(28,463)
Other inflows (outflows) of cash, net	458	5,579	1,990
Net cash flow from (used in) operating activities	1,046,814	1,181,317	740,427
Cash flows from (used in) investing activities
Cash flow from losing control of subsidiaries and other businesses	0	958,273	0
Cash flow used in obtaining control of subsidiaries or other businesses	0	(72,037)	0
Other cash receipts from sales of equity or debt instruments from other entities	1,931	7,109	0
Other cash payments to acquire equity or debt instruments from other entities	(42,113)	(26,526)	(27,528)
Other cash payments to acquire interests in joint ventures	(2,557)	(28,279)	(11,222)
Loans to related entities	0	(5,500)	0
Proceeds from sales of property, plant and equipment	19,345	37,660	11,859
Purchase of property, plant and equipment	(1,648,384)	(838,844)	(844,470)
Proceeds from sales of intangible assets	514	0	281
Purchase of intangible assets	(7,395)	(6,137)	(6,682)
Proceeds from other long-term assets	2,135	5,512	6,088
Purchase of other long-term assets	(788,892)	(383,912)	(411,897)
Dividends received	9,298	6,982	4,265
Other inflows (outflows) of cash, net	25,093	16,726	(53,818)
Cash flows from (used in) investing activities	(2,431,025)	(328,973)	(1,333,124)
Cash flows from (used in) financing activities
Payments from changes in ownership interests in subsidiaries	0	(3,600)	0
Proceeds from issuing shares	450,000	300,519	0
Total proceeds from borrowings	2,304,939	1,695,525	2,126,607
Proceeds from long-term borrowings	1,862,803	481,269	1,160,649
Proceeds from short-term borrowings	442,136	1,214,256	965,958
Repayments of borrowings	(894,766)	(2,132,898)	(1,118,156)
Payments of lease liabilities	(101,832)	(82,059)	(73,806)
Dividends paid	(114,622)	(94,637)	(282,728)
Other inflows (outflows) of cash, net	(87,266)	11,202	(6,250)
Cash flows from (used in) financing activities	1,556,453	(305,948)	645,667
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes	172,242	546,396	52,970
Effect of exchange rate changes on cash and cash equivalents	40,251	(44,844)	(150,169)
Net increase (decrease) of cash and cash equivalents	212,493	501,552	(97,199)
Cash and cash equivalents, at the beginning of the period	1,071,560	570,008	667,207
Cash and cash equivalents, at the end of the period	$ 1,284,053	$ 1,071,560	$ 570,008

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 1,284,053	$ 1,071,560
Other current financial assets	231,024	25,960
Other current non-financial assets	212,816	261,092
Trade and other current receivables	832,166	1,054,707
Accounts receivable from related companies	490	10,159
Current inventories	1,516,639	1,456,260
Current biological assets	236,333	315,500
Current tax assets	76,309	75,613
Total current assets other than assets or disposal groups classified as held for sale	4,389,830	4,270,851
Non-current assets or disposal groups classified as held for sale	3,901	3,767
Total current assets	4,393,731	4,274,618
Non-current assets
Other non-current financial assets	257,498	16,747
Other non-current non-financial assets	655,854	85,036
Non-current receivables	79,325	65,735
Investments accounted for using equity method	483,542	406,611
Intangible assets other than goodwill	50,493	55,980
Goodwill	52,681	51,325
Property, plant and equipment	11,124,813	9,610,071
Right of use assets	1,003,718	771,886
Non-current biological assets	3,101,604	2,747,894
Deferred tax assets	101,504	73,409
Total non-current assets	16,911,032	13,884,694
Total assets	21,304,763	18,159,312
Current liabilities
Other current financial liabilities	708,470	348,905
Current lease liabilities	55,823	55,851
Trade and other current payables	1,043,241	745,971
Accounts payable to related companies	9,437	10,563
Other short-term provisions	3,055	1,837
Current tax liabilities	30,405	27,565
Current provisions for employee benefits	7,501	6,669
Other current non-financial liabilities	73,643	165,589
Total current liabilities	1,931,575	1,362,950
Non-current liabilities
Other non-current financial liabilities	6,939,288	5,721,712
Non-current lease liabilities	959,237	672,139
Non-current payables	53,713	35,310
Non-current accounts payable to related companies	23,924	26,207
Other long-term provisions	38,588	33,121
Deferred tax liabilities	1,550,057	1,469,512
Non-current provisions for employee benefits	87,359	77,634
Other non-current non-financial liabilities	30,288	37,012
Total non-current liabilities	9,689,710	8,072,647
Current tax liabilities, non-current	7,256	0
Total liabilities	11,621,285	9,435,597
Equity
Issued capital	1,553,618	1,103,618
Retained earnings	8,328,561	8,312,384
Other reserves	(204,592)	(698,747)
Equity attributable to owners of parent company	9,677,587	8,717,255
Non-controlling interests	5,891	6,460
Total equity	9,683,478	8,723,715
Total equity and liabilities	$ 21,304,763	$ 18,159,312