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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Masisa SA (New) Ads | NYSE:MYS | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Form
20-F
x
|
Form
40-F
o
|
Yes
o
|
No
x
|
As
of September 30 ,
|
|||||||
CONSOLIDATED
BALANCE SHEET
|
2007
|
2006
|
|||||
|
THUS$
|
THUS$
|
|||||
ASSETS
|
|||||||
Total
current assets
|
508,715
|
498,697
|
|||||
Cash
and Banks
|
14,275
|
11,148
|
|||||
Time
deposits
|
42,315
|
50,846
|
|||||
Marketable
securities (net)
|
1,154
|
201
|
|||||
Accounts
receivable (net)
|
144,674
|
141,052
|
|||||
Notes
receivable (net)
|
9,052
|
10,968
|
|||||
Sundry
debtors
|
24,611
|
27,491
|
|||||
Notes
and accounts receivable from related companies
|
7,619
|
7,694
|
|||||
Inventories
(net)
|
193,320
|
187,953
|
|||||
Recoverable
taxes
|
55,065
|
47,437
|
|||||
Prepaid
expenses
|
9,190
|
7,794
|
|||||
Deferred
taxes
|
5,324
|
3,551
|
|||||
Other
current assets
|
2,116
|
2,562
|
|||||
Leasing
Contracts (net)
|
0
|
0
|
|||||
Assets
for Leasing(net)
|
0
|
0
|
|||||
Total
fixed assets
|
1,587,886
|
1,475,494
|
|||||
Lands
|
157,868
|
135,386
|
|||||
Buildings
and infrastructure
|
214,345
|
212,511
|
|||||
Machinery
and equipment
|
853,011
|
843,304
|
|||||
Other
fixed assets
|
808,551
|
689,044
|
|||||
Goodwill
from technical reappraisal of fixed asset
|
7,390
|
7,390
|
|||||
Depreciation
(less)
|
-453,279
|
-412,141
|
|||||
Total
other assets
|
-2,308
|
-19,397
|
|||||
Investments
in related companies
|
4,319
|
4,633
|
|||||
Investments
in other companies
|
217
|
205
|
|||||
Goodwill
|
2,345
|
1,186
|
|||||
Negative
goodwill (less)
|
-55,295
|
-59,412
|
|||||
Long
term debtors
|
5,385
|
4,661
|
|||||
Long
term notes and accounts receivable from related companies
|
0
|
1,556
|
|||||
Long
term deferred taxes
|
0
|
0
|
|||||
Intangible
assets
|
11,498
|
10,637
|
|||||
Amortization
(less)
|
-680
|
-28
|
|||||
Others
|
29,903
|
17,165
|
|||||
0
|
|||||||
TOTAL
ASSETS
|
2,094,293
|
1,954,794
|
As
of September 30 ,
|
|||||||
CONSOLIDATED
BALANCE SHEET
|
2007
|
2006
|
|||||
THUS$
|
THUS$
|
||||||
Total
current liabilities
|
370,518
|
277,442
|
|||||
Short
term
obligations to banks and financial institutions
|
117,691
|
65,904
|
|||||
Short
term
portion of long
term
obligations to banks and financial institutions
|
42,358
|
57,741
|
|||||
Obligations
to the public -short-term portion (promissory note)
|
0
|
0
|
|||||
Obligations
to the public -short-term portion (bonds)
|
57,848
|
34,359
|
|||||
Long
term
obligations due within one year
|
0
|
4
|
|||||
Dividends
payable
|
451
|
504
|
|||||
Accounts
payable
|
70,800
|
57,760
|
|||||
Notes
payable
|
997
|
719
|
|||||
Sundry
creditors
|
1,373
|
2,192
|
|||||
Notes
and accounts payable to related companies
|
10,718
|
4,948
|
|||||
Provisions
|
40,293
|
26,164
|
|||||
Withholdings
|
15,628
|
18,166
|
|||||
Income
tax
|
11,871
|
7,801
|
|||||
Revenue
received in advance
|
230
|
866
|
|||||
Deferred
Taxes
|
0
|
0
|
|||||
Other
current liabilities
|
260
|
314
|
|||||
Total
long-term liabilities
|
525,909
|
530,350
|
|||||
Obligations
to banks and financial institutions
|
146,423
|
181,051
|
|||||
Long
term obligations to the Public (bonds)
|
283,769
|
283,264
|
|||||
Notes
payable Long Term
|
0
|
0
|
|||||
Long
term sundry creditors
|
67
|
130
|
|||||
Notes
and accounts payable to related companies Long Term
|
0
|
0
|
|||||
Long
term Provisions
|
1,657
|
1,426
|
|||||
Long
term Deferred taxes
|
76,450
|
46,828
|
|||||
Other
long term liabilities
|
17,543
|
17,651
|
|||||
Minority
interest
|
10,277
|
17,354
|
|||||
Total
shareholders' equity
|
1,187,589
|
1,129,648
|
|||||
Paid/up
capital stock
|
812,880
|
812,880
|
|||||
Capital
revaluation reserve
|
0
|
0
|
|||||
Overcharge
in company share sales
|
0
|
0
|
|||||
Other
reserves
|
206,708
|
173,176
|
|||||
Retained
Earnings
|
168,001
|
143,592
|
|||||
Reserves
future dividends
|
51,424
|
51,424
|
|||||
Accumulated
profits
|
90,089
|
73,072
|
|||||
Accumulated
losses (less)
|
0
|
0
|
|||||
Net
income (loss) for the period
|
26,488
|
19,096
|
|||||
Interim
dividends (less)
|
0
|
0
|
|||||
Accumulated
deficit for development period
|
0
|
0
|
|||||
Total
liabilities
|
2,094,293
|
1,954,794
|
As
of September 30 ,
|
|||||||
2007
|
|
2006
|
|
||||
|
|
THUS$
|
|
|
THUS$
|
||
CONSOLIDATED
INCOME STATEMENT
|
|||||||
OPERATING
RESULT
|
76,564
|
65,446
|
|||||
GROSS
MARGIN
|
173,391
|
153,643
|
|||||
Operating
Income
|
706,109
|
663,850
|
|||||
Operating
costs (less)
|
-532,718
|
-510,207
|
|||||
Selling
and administrative expenses (less)
|
-96,827
|
-88,197
|
|||||
NON
/OPERATING RESULT
|
-40,757
|
-35,890
|
|||||
Financial
Income
|
3,204
|
3,808
|
|||||
Net
income on investments in related companies
|
0
|
573
|
|||||
Other
non operating income
|
1,305
|
2,711
|
|||||
Loss
on investments in related companies (less)
|
-47
|
0
|
|||||
Amortization
of goodwill (less)
|
-85
|
-64
|
|||||
Financial
expenses (less)
|
-29,237
|
-26,037
|
|||||
Other
non/operating expenses (less)
|
-13,479
|
-7,837
|
|||||
Price/level
restatements
|
2,834
|
1,093
|
|||||
Exchange
Differences
|
-5,252
|
-10,137
|
|||||
Result
before income taxes and extraordinary items
|
35,807
|
29,556
|
|||||
Income
taxes
|
-20,072
|
-21,403
|
|||||
Extraordinary
Items
|
0
|
||||||
Net
income (loss) before minority interests
|
15,735
|
8,153
|
|||||
Minority
interests
|
7,324
|
7,532
|
|||||
Net
Income (Loss)
|
23,059
|
15,685
|
|||||
3,429
|
3,411
|
||||||
NET
INCOME (LOSS) FOR THE PERIOD
|
26,488
|
19,096
|
|
As
of September 30 ,
|
||||||
2007
|
2006
|
||||||
|
THUS$
|
THUS$
|
|||||
CONSOLIDATED STATEMENT OF CASH FLOW -DIRECT | |||||||
Net
cash flow from operating activities
|
71,629
|
100,666
|
|||||
Collection
of accounts receivable
|
989,075
|
824,231
|
|||||
Financial
income received
|
4,742
|
7,165
|
|||||
Dividends
and other distributions received
|
0
|
0
|
|||||
Other
income received
|
32,930
|
19,885
|
|||||
Payments
of suppliers and personnel (less)
|
-876,602
|
-694,340
|
|||||
Interest
paid (less)
|
-25,804
|
-32,418
|
|||||
Income
tax paid (less)
|
-11,415
|
-9,710
|
|||||
Other
expenses paid (less)
|
-2,643
|
-2,772
|
|||||
VAT,
and similar paid (less)
|
-38,654
|
-11,375
|
|||||
Cash
flow from financing activities
|
10,337
|
-22,099
|
|||||
Placement
of shares
|
0
|
44,012
|
|||||
Loans
drawn
|
160,383
|
219,368
|
|||||
Bonds
|
87,842
|
162,965
|
|||||
Documented
loans from related companies
|
0
|
0
|
|||||
Other
loans from related companies
|
0
|
0
|
|||||
Other
financing sources
|
7,786
|
0
|
|||||
Dividends
paid (less)
|
-12,433
|
-11,491
|
|||||
Distribution
of capital (less)
|
0
|
0
|
|||||
Loans
repaid (less)
|
-151,739
|
-266,445
|
|||||
Bonds
paid (less)
|
-81,502
|
-169,605
|
|||||
Repayment
of documented loans from related companies (less)
|
0
|
0
|
|||||
Repayment
of other loan form related companies (less)
|
0
|
0
|
|||||
Stock
issuance and placement expenses (less)
|
0
|
-903
|
|||||
Bond
issuance and placement expenses (less)
|
0
|
0
|
|||||
Other
financing disbursements (less)
|
0
|
0
|
|||||
Net
cash flow from investment activities
|
-71,875
|
-114,246
|
|||||
Sales
of fixed assets
|
1,441
|
38
|
|||||
Sales
of permanent investments
|
0
|
0
|
|||||
Sales
of other investments
|
16,677
|
0
|
|||||
Collection
of documented loans to related companies
|
3,952
|
0
|
|||||
Collection
of other loans to related companies
|
32,672
|
0
|
|||||
Other
investment income
|
0
|
0
|
|||||
Acquisition
of fixed assets (less)
|
-99,176
|
-84,086
|
|||||
Interest
capitalized repaid (less)
|
-6,573
|
-5,149
|
|||||
Permanent
investments (less)
|
-2,371
|
-24,340
|
|||||
Investments
in financial instruments (less)
|
-18,497
|
0
|
|||||
Documented
loans to related companies (less)
|
0
|
-709
|
|||||
Other
loans to related companies (less)
|
0
|
0
|
|||||
Other
investment disbursements (less)
|
0
|
0
|
|||||
Net
total cash flow for the period
|
10,091
|
-35,679
|
|||||
Effect
of inflation on cash and cash equivalents
|
-32
|
17
|
|||||
Net
variation in cash and cash equivalents
|
10,059
|
-35,662
|
|||||
Initial
balance of cash and cash equivalents
|
47,049
|
97,857
|
|||||
Final
balance of cash and cash equivalents
|
57,108
|
62,195
|
As
of September 30 ,
|
|||||||
2007
|
2006
|
||||||
THUS$
|
THUS$
|
||||||
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES | |||||||
Net
income (loss) for the period
|
26,488
|
19,096
|
|||||
Results
on sales of assets:
|
28
|
-26
|
|||||
(Profit)
loss on sales of fixed assets
|
28
|
-26
|
|||||
Profit
on sales of investments (less)
|
0
|
0
|
|||||
Loss
on sales of investments
|
0
|
0
|
|||||
(Profit)
loss on sales of other assets
|
0
|
0
|
|||||
Charges
(credits) to income not affecting cash flow:
|
53,342
|
58,069
|
|||||
Depreciation
for the period
|
37,567
|
37,664
|
|||||
Amortization
of intangible assets
|
746
|
337
|
|||||
Write/off
and provisions
|
5,038
|
0
|
|||||
Income
from investment in related companies (less)
|
0
|
-573
|
|||||
Loss
on investment in related companies
|
47
|
0
|
|||||
Amortization
of goodwill
|
85
|
64
|
|||||
Amortization
of negative goodwill (less)
|
-3,429
|
-3,411
|
|||||
Net
price/level restatements
|
-2,834
|
-1,093
|
|||||
Net
exchange difference
|
5,252
|
10,137
|
|||||
Other
credit to income not affecting cash flow (less)
|
-3,013
|
0
|
|||||
Other
charges to income not affecting cash flow
|
13,883
|
14,944
|
|||||
Changes
in assets affecting cash flow (increases) decreases:
|
-48,147
|
151
|
|||||
Accounts
receivable
|
-34,761
|
-29,977
|
|||||
Inventories
|
-8,557
|
31,868
|
|||||
Other
assets
|
-4,829
|
-1,740
|
|||||
Changes
in liabilities affecting cash flow (increases) decreases:
|
47,242
|
30,908
|
|||||
Accounts
payable related to operating income
|
14,914
|
21,967
|
|||||
Interest
payable
|
9,896
|
-4,880
|
|||||
Net
income taxes payable
|
2,985
|
-2,189
|
|||||
Other
accounts payable related to non/operating income
|
7,734
|
-369
|
|||||
Net
value added tax and similar payable
|
11,713
|
16,379
|
|||||
Profit
(loss) of minority interest
|
-7,324
|
-7,532
|
|||||
Net
cash flow from operating activities
|
71,629
|
100,666
|
|
|
2007
per
US dollar
|
|
2006
per
US dollar
|
|||
Chilean
Peso
|
511.2300
|
537.0300
|
|||||
Reales
|
1.8389
|
2.1742
|
|||||
Bolivares
|
2,150.0000
|
2,150.0000
|
|||||
Argentinean
Peso
|
3.1500
|
3.1040
|
|||||
Colombian
Peso
|
2,023.1900
|
2,394.3100
|
|||||
Mexican
Peso
|
10.9203
|
11.0502
|
|||||
0.7009
|
0.7886
|
||||||
Unidad
de Fomento
|
0.0266
|
0.0292
|
-
|
Products
being processed and finished products are shown at their production
cost,
under the cost-by-absorption
method.
|
-
|
Standing
forests are shown at the forestry appraisal value of the plantations
that
are expected to be harvested during the following
year.
|
-
|
Wood
logs, pulp wood and native wood are shown at average production cost
or at
cost, as the case may be.
|
-
|
Materials,
spares, supplies, etc at their average
cost.
|
-
|
Imports
in transit at cost.
|
-
|
Replacement
of old machinery or spares for unused
machines.
|
-
|
Little
alternative use of materials or spares with a low
turnover.
|
-
|
Possible
loss of commercial value of finished products in lengthy storage
due to
deterioration, as compared to the standards demanded by the
market.
|
Ownership
as of
|
||||||||||
30/09/2007
|
30/09/2006
|
|||||||||
RUT
|
Company
|
Direct
|
Indirect
|
Total
|
Total
|
|||||
99537270-3
|
INVERSIONES
INTERNACIONALES TERRANOVA S.A.
|
60.0000
|
0.0000
|
60.0000
|
60.0000
|
|||||
81507700-8
|
FORESTAL
TORNAGALEONES S.A.
|
94.9061
|
0.0000
|
94.9061
|
94.9061
|
|||||
77790860-K
|
MASISA
PARTES Y PIEZAS LIMITADA
|
99.8000
|
0.2000
|
100.0000
|
100.0000
|
|||||
0-E
|
MASISA
OVERSEAS LIMITED
|
100.0000
|
0.0000
|
100.0000
|
100.0000
|
|||||
0-E
|
MADERAS
Y SINTÉTICOS DEL PERÚ S.A.C.
|
99.0114
|
0.8897
|
99.9011
|
99.9011
|
|||||
0-E
|
MASISA
USA, INC.
|
25.1200
|
44.9280
|
70.0480
|
70.0480
|
|||||
0-E
|
MADERAS
Y SINTÉTICOS SERVICIOS S.A. DE C.V.
|
99.0000
|
1.0000
|
100.0000
|
100.0000
|
|||||
0-E
|
MASISA
ECUADOR S.A.
|
99.9000
|
0.1000
|
100.0000
|
100.0000
|
|||||
0-E
|
MASISA
DO BRASIL LTDA.
|
98.3907
|
1.6093
|
100.0000
|
100.0000
|
|||||
0-E
|
MADERAS
Y SINTÉTICOS MÉXICO S.A. DE C.V.
|
99.9999
|
0.0001
|
100.0000
|
100.0000
|
|||||
0-E
|
TERRANOVA
PANAMÁ S.A.
|
0.0000
|
60.0000
|
60.0000
|
60.0000
|
|||||
0-E
|
TERRANOVA
DE VENEZUELA S.A.
|
0.0000
|
60.0000
|
60.0000
|
60.0000
|
|||||
0-E
|
COFORVEN
S.A.
|
0.0000
|
59.9700
|
59.9700
|
59.9700
|
|||||
0-E
|
FORESTAL
TERRANOVA MEXICO S.A. DE C.V.
|
0.0000
|
59.9940
|
59.9940
|
59.9940
|
|||||
0-E
|
CORPORACIÓN
FORESTAL GUAYAMURE C.A.
|
0.0000
|
51.0000
|
51.0000
|
51.0000
|
|||||
0-E
|
MASISA
MADEIRAS LTDA.
|
0.0000
|
59.9940
|
59.9940
|
59.9940
|
|||||
0-E
|
MASISA
COLOMBIA S.A.
|
0.0000
|
59.9940
|
59.9940
|
59.9940
|
|||||
0-E
|
CORPORACIÓN
FORESTAL IMATACA C.A.
|
0.0000
|
60.0000
|
60.0000
|
60.0000
|
|||||
0-E
|
ANDINOS
C.A.
|
0.0000
|
60.0000
|
60.0000
|
60.0000
|
|||||
0-E
|
FORESTAL
ARGENTINA S.A.
|
1.3200
|
93.6530
|
94.9730
|
93.6500
|
|||||
0-E
|
MASISA
ARGENTINA S.A.
|
98.0000
|
2.0000
|
100.0000
|
100.0000
|
|||||
0-E
|
FIBRANOVA
C.A.
|
0.0000
|
60.0000
|
60.0000
|
60.0000
|
|||||
0-E
|
MASNOVA
DE MEXICO S.A. DE C.V.
|
0.0000
|
80.0000
|
80.0000
|
80.0000
|
|||||
0-E
|
CC
MAS S.A DE C.V.
|
0.0000
|
100.0000
|
100.0000
|
0.0000
|
2007
|
2006
|
||||||
THUS$
|
THUS$
|
||||||
-
Chile
|
38,008
|
33,153
|
|||||
-
Venezuela
|
18,359
|
12,829
|
|||||
-
Brazil
|
30,862
|
26,900
|
|||||
-
Argentina
|
5,408
|
4,823
|
|||||
-
Mexico
|
24,881
|
31,536
|
|||||
-
Colombia
|
3,519
|
3,721
|
|||||
-
United States
|
19,983
|
24,079
|
|||||
-
Ecuador
|
1,511
|
2,094
|
|||||
-
Peru
|
2,143
|
1,917
|
|||||
144,674
|
141,052
|
Current
|
||||||||||||||||||||||||||||
Less
than 90 days
|
More
than 90 days and up to 1 year
|
Sub-Total
|
Current
Total (net)
|
Long
Term
|
||||||||||||||||||||||||
30-09-007
|
30-09-006
|
30-09-007
|
30-09-006
|
30-09-007
|
30-09-007
|
30-09-006
|
30-09-007
|
30-09-2006
|
||||||||||||||||||||
Account
receivable
|
130,715
|
132,168
|
19,400
|
14,657
|
150,115
|
144,674
|
141,052
|
2,527
|
2,088
|
|||||||||||||||||||
Uncollectible
receivables estimate
|
5,441
|
|||||||||||||||||||||||||||
Notes
receivable
|
8,659
|
10,457
|
898
|
1,330
|
9,557
|
9,052
|
10,968
|
580
|
880
|
|||||||||||||||||||
Uncollectible
receivables estimate
|
505
|
|||||||||||||||||||||||||||
Sundry
debtors
|
20,175
|
22,905
|
4,852
|
4,730
|
25,027
|
24,611
|
27,491
|
2,278
|
1,693
|
|||||||||||||||||||
Uncollectible
receivables estimate
|
416
|
|||||||||||||||||||||||||||
Total
Long Term receivable
|
5.385
|
4.661
|
|
Short
Term
|
Long
Term
|
||||||||
RUT
|
Company
|
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
|||||
Foreign
|
OXINOVA
C.A.
|
7,616
|
5,360
|
0
|
0
|
|||||
Foreign
|
AMANCO
TUBOSISTEMAS HONDURAS
|
0
|
763
|
0
|
0
|
|||||
Foreign
|
AMANCO
TUBOSISTEMAS COSTA RICA S.A.
|
0
|
165
|
0
|
0
|
|||||
Foreign
|
AMANCO
TUBOSISTEMAS EL SALVADOR
|
0
|
163
|
0
|
0
|
|||||
Foreign
|
PLYCEM
CONSTRUSISTEMAS GUATEMALA S.A.
|
0
|
245
|
0
|
0
|
|||||
Foreign
|
PLYCEM
CONSTRUSISTEMAS NICARAGUA
|
0
|
327
|
0
|
0
|
|||||
Foreign
|
AMANCO
BRAZIL LTD
|
0
|
665
|
0
|
0
|
|||||
Foreign
|
GRUPO
NUEVA
|
3
|
6
|
0
|
0
|
|||||
TOTAL
|
|
7,619
|
7,694
|
0
|
0
|
Short-Term
|
Long-Term
|
|||||||||
RUT
|
Company
|
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
|||||
Foreign
|
OXINOVA
C.A.
|
8,842
|
4,584
|
0
|
0
|
|||||
Foreign
|
TEK
BOARD OVERSEAS, INC
|
1,876
|
364
|
0
|
0
|
|||||
TOTAL
|
|
10,718
|
4,948
|
0
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
30-09-2007
|
|
|
30-09-2006
|
|
||||||
Company
|
|
|
RUT
|
|
|
Relationship
Nature
|
|
|
Description
of Transaction
|
|
|
Amount
|
|
|
Effect
on Income, (debit/credit)
|
|
|
Amount
|
|
|
Effect
on Income,
(debit/credit))
|
|
OXINOVA
C.A.
|
Foreign
|
Related
|
Services
rendered
|
54
|
54
|
54
|
54
|
|||||||||||||||
OXINOVA
C.A.
|
Foreign
|
Related
|
Purchase
of products
|
18,635
|
-18,635
|
14,937
|
-14,937
|
|||||||||||||||
OXINOVA
C.A.
|
Foreign
|
Related
|
Land
rent
|
9
|
9
|
9
|
9
|
|||||||||||||||
PLYCEM
CONSTRUSISTEMAS GUATEMALA S.A.
|
Foreign
|
Common
Parent
|
Sales
of products
|
207
|
87
|
477
|
184
|
|||||||||||||||
PLYCEM
CONSTRUSISTEMAS COSTA RICA S.A.
|
Foreign
|
Common
Parent
|
Sales
of products
|
276
|
116
|
0
|
0
|
|||||||||||||||
PLYCEM
CONSTRUSISTEMAS EL SALVADOR S.A.
|
Foreign
|
Common
Parent
|
Sales
of products
|
122
|
59
|
424
|
150
|
|||||||||||||||
AMANCO
TUBOSISTEMAS COSTA RICA
|
Foreign
|
Common
Parent
|
Sales
of products
|
0
|
0
|
1,433
|
570
|
|||||||||||||||
PLYCEM
CONSTRUSISTEMAS NICARAGUA S.A.
|
Foreign
|
Common
Parent
|
Sales
of products
|
0
|
0
|
361
|
134
|
|||||||||||||||
AMANCO
TUBOSISTEMAS HONDURAS
|
Foreign
|
Common
Parent
|
Sales
of products
|
0
|
0
|
144
|
66
|
2007
|
|
2006
|
|||||
THUS$
|
THUS$
|
||||||
Finished
and process products
|
96,611
|
93,554
|
|||||
Imports
in transit
|
15,900
|
22,427
|
|||||
Standing
Timber
|
34,339
|
29,700
|
|||||
Raw
Material, spare parts and materials
|
46,470
|
42,272
|
|||||
TOTAL
|
193,320
|
187,953
|
Country
|
2007
|
2006
|
|||||
THUS$
|
THUS$
|
||||||
Chile
|
4,457
|
(
4,872
|
)
|
||||
Argentina
|
(
7,544
|
)
|
(
6,241
|
)
|
|||
Brazil(*)
|
(12,750
|
)
|
(
6,678
|
)
|
|||
United
States
|
1,644
|
(
1,401
|
)
|
||||
Peru
|
(964
|
)
|
(661
|
)
|
|||
Colombia
|
(783
|
)
|
(836
|
)
|
|||
Venezuela
|
(
4,048
|
)
|
42
|
||||
Others
|
(84
|
)
|
(756
|
)
|
|||
Total
|
(20,072
|
)
|
(
21,403
|
)
|
30-09-2007
|
|
30-09-2006
|
|
||||||||||||||||||||||
|
|
Assets
deferred taxes
|
|
Liabilities
deferred taxes
|
|
Assets
deferred taxes
|
|
Liabilities
deferred taxes
|
|
||||||||||||||||
|
|
Short
Term
|
|
Long
Term
|
|
Short
Term
|
|
Long
Term
|
|
Short
Term
|
|
Long
Term
|
|
Short
Term
|
|
Long
Term
|
|||||||||
Temporary
Differences
|
|
|
|
|
|
|
|
||||||||||||||||||
Provision
for uncollectible accounts
|
949
|
978
|
0
|
73
|
1,413
|
0
|
0
|
0
|
|||||||||||||||||
Anticipated
income
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||
Vacation
provisions
|
818
|
0
|
0
|
0
|
660
|
0
|
0
|
0
|
|||||||||||||||||
Amortization
of intangible assets
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||
Leasing
assets
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||
Manufacturing
expenses
|
0
|
0
|
1,354
|
0
|
0
|
0
|
1,115
|
0
|
|||||||||||||||||
Fixed
assets depreciation
|
231
|
0
|
0
|
40,314
|
0
|
0
|
0
|
34,945
|
|||||||||||||||||
Severance
payment
|
7
|
0
|
0
|
0
|
22
|
0
|
0
|
0
|
|||||||||||||||||
Others
events
|
1,422
|
3,743
|
24
|
1,970
|
18
|
0
|
0
|
48
|
|||||||||||||||||
Expenses
paid in advance
|
0
|
0
|
81
|
33
|
0
|
0
|
116
|
255
|
|||||||||||||||||
Fixed
assets provision
|
0
|
1,404
|
0
|
0
|
0
|
1,993
|
0
|
0
|
|||||||||||||||||
Obsolescence
provision
|
943
|
115
|
0
|
0
|
426
|
0
|
0
|
||||||||||||||||||
Other
provisions
|
809
|
466
|
0
|
29,770
|
2,129
|
1,913
|
0
|
15,126
|
|||||||||||||||||
Forestry
Reserve
|
0
|
0
|
0
|
47,216
|
0
|
0
|
0
|
35,424
|
|||||||||||||||||
Tax
losses
|
1,380
|
76,168
|
0
|
0
|
79
|
124,202
|
0
|
0
|
|||||||||||||||||
Cost
of activated funding
|
0
|
0
|
0
|
6,328
|
0
|
0
|
0
|
6,118
|
|||||||||||||||||
Non
realized profits provision
|
224
|
227
|
0
|
0
|
129
|
230
|
0
|
0
|
|||||||||||||||||
Activated
expenses in plantations
|
0
|
0
|
0
|
986
|
0
|
0
|
61
|
18,248
|
|||||||||||||||||
Others
|
|||||||||||||||||||||||||
Balance
for Complementary assets net of amortization
|
0
|
0
|
0
|
14,277
|
33
|
1,402
|
0
|
17,165
|
|||||||||||||||||
Valuation
provisions
|
0
|
47,138
|
|
|
0
|
80,765
|
|
|
|||||||||||||||||
Total
|
6,783
|
35,963
|
1,459
|
112,413
|
4,843
|
46,171
|
1,292
|
92,999
|
Items
|
30-09-2007
|
30-09-2006
|
|||||
Regular
tax expense (tax provision)
|
-14,354
|
-10,465
|
|||||
Tax
expenses adjustment (previous period)
|
0
|
-224
|
|||||
Effect
for assets and liabilities for deferred taxes of the
period
|
-4,507
|
-6,569
|
|||||
Tax
credit due to tax loss
|
305
|
-3,438
|
|||||
Effect
for amortization of deferred assets and liabilities complementary
accounts
|
-1,423
|
-1,043
|
|||||
Effect
on assets and liabilities of deferred taxes for the changes in the
valuating provisions
|
21
|
0
|
|||||
Other
charges and credits in the account
|
-114
|
336
|
|||||
Total
|
-20,072
|
-21,403
|
|
|
|
2007
|
|
|
2006
|
|||||||||||||
Fixed
assets
|
Book
value
|
Cumulative
Depreciation
|
Net
Fixed Assets
|
Book
value
|
Cumulative
Depreciation
|
Net
Fixed Assets
|
|||||||||||||
THUS$
|
THUS$
|
THUS$
|
THUS$
|
THUS$
|
THUS$
|
||||||||||||||
Lands
|
157,868
|
-
|
157,868
|
135,386
|
-
|
135,386
|
|||||||||||||
Building
|
|||||||||||||||||||
and
infrastructure
|
214,345
|
(
79,230
|
)
|
135,115
|
212,511
|
( 69,582 |
)
|
142,929
|
|||||||||||
Machinery
and
|
|||||||||||||||||||
equipment
|
853,011
|
(325,900
|
)
|
527,111
|
843,304
|
(293,239 |
)
|
550,065
|
|||||||||||
Other
fixed assets
|
808,551
|
(
43,833
|
)
|
764,718
|
689,044
|
( 45,021 |
)
|
644,023
|
|||||||||||
-Plantations
|
626,609
|
-
|
626,609
|
560,510
|
-
|
560,510
|
|||||||||||||
-Sites
under
|
|||||||||||||||||||
Construction
|
115,895
|
-
|
115,895
|
56,482
|
-
|
56,482
|
|||||||||||||
-Other
fixed assets
|
66,047
|
(
43,833
|
)
|
22,214
|
72,052
|
( 45,021 |
)
|
27,031
|
|||||||||||
Negative
Goodwill
|
|||||||||||||||||||
Technical
Reappraisal:
|
7,390
|
(4,316
|
)
|
3,074
|
7,390
|
(4,299
|
)
|
3,091
|
|||||||||||
-
Land
|
2,672
|
-
|
2,672
|
2,672
|
-
|
2,672
|
|||||||||||||
-
Building and infrastructure
|
4,718
|
(4,316
|
)
|
402
|
4,718
|
(4,299
|
)
|
419
|
|||||||||||
Total
|
2,041,165
|
(453,279
|
)
|
1,587,886
|
1,887,635
|
(412,141
|
)
|
1,475,494
|
Depreciation
for the year
:
|
2007
|
2006
|
|||||
THUS$
|
THUS$
|
||||||
Effect
on Income
|
|||||||
From
Operations
|
34,251
|
34,288
|
|||||
Administrative
Expenses
|
2,907
|
2,792
|
|||||
Non-operating
|
409
|
584
|
|||||
Activated
|
|||||||
Negative
Goodwill in Plantations
|
57
|
182
|
|||||
Total
|
37,624
|
37,846
|
|
|
|
|
|
|
Investment
|
|
|
|
|
Participation
%
|
|
|
Shareholder's
Equity
|
|
||||||||||
|
|
|
Company
|
|
|
Country
|
|
|
Control
Currency
|
|
|
Number
of
shares
|
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
|||||||||
Foreign
|
OXINOVA
S.A.
|
VENEZUELA
|
DOLLARS
|
1,963,564
|
49.00000
|
49.00000
|
8,814
|
9,455
|
Investment
|
|
|
Net
Income for
the
period
|
|
|
Shareholder's
Equity
to
just value
|
|
|
Net
Income to
just
value
|
|||||||||||||||||||
Company
|
|
|
Country
|
|
|
Control
Currency
|
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
||||||||||||||||
Foreign
|
OXINOVA
S.A.
|
VENEZUELA
|
DOLLARS
|
-96
|
1,170
|
0
|
0
|
0
|
0
|
|
|
|
|
|
Investment
|
|
|
Net
Income Accrued
|
|
|
VP/VPP
|
|
|
Unrealized
Result
|
|
|
Book
value of investment
|
|||||||||||||||||
Company
|
|
|
Country
|
|
|
Control
Currency
|
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
||||||||||||||||||||
Foreign
|
OXINOVA
S.A.
|
VENEZUELA
|
DOLLARS
|
-47
|
573
|
4,319
|
4,633
|
0
|
0
|
4,319
|
4,633
|
|||||||||||||||||||||||
Total
|
4,319
|
4,633
|
0
|
0
|
4,319
|
4,633
|
|
|
|
|
|
|
30-09-2007
|
|
|
30-09-2006
|
|
||||||
RUT
|
|
|
Company
|
|
|
Amortization
Amount
for
the
Period
|
|
|
Goodwill
|
|
|
Amortization
Amount
for
the
Period
|
Goodwill
|
|||
96623490-3
|
MASISA
CABRERO S.A.
|
64
|
1,101
|
64
|
1,186
|
|||||||||||
Foreign
|
FORESTAL
ARGENTINA S.A.
|
21
|
1,244
|
0
|
0
|
|||||||||||
TOTAL
|
85
|
2,345
|
64
|
1,186
|
30-09-2007
|
|
|
30-09-2006
|
|||||||||||||
RUT
|
|
|
Company
|
|
|
Amortization
Amount
for
the
Period
|
|
|
Negative
Goodwill
|
|
|
Amortization
Amount
for
the
Period
|
|
|
Negative
Goodwill
|
|
81507700-8
|
FORESTAL
TORNAGALEONES S.A.
|
641
|
11,980
|
641
|
12,835
|
|||||||||||
92257000-0
|
MASISA
S.A. (ANTIGUA
)
|
2,075
|
27,227
|
2,074
|
29,993
|
|||||||||||
96802690-9
|
TERRANOVA
S.A.
|
252
|
5,452
|
252
|
5,787
|
|||||||||||
Foreign
|
CORPORACIÓN
FORESTAL GUAYAMURE C.A.
|
92
|
1,658
|
93
|
1,782
|
|||||||||||
Foreign
|
FORESTAL
ARGENTINA S.A.
|
369
|
8,978
|
351
|
9,015
|
|||||||||||
TOTAL
|
3,429
|
55,295
|
3,411
|
59,412
|
2007
|
2006
|
||||||
MUS$
|
MUS$
|
||||||
Exploitation
rights (1)
|
9,963
|
10,425
|
|||||
Others
(2)
|
1,535
|
212
|
|||||
TOTAL
|
11,498
|
10,637
|
2007
|
2006
|
||||||
THUS$
|
THUS$
|
||||||
7,421
|
3,219
|
||||||
Goodwill
and expenses in bonds placing (1)
|
4,831
|
5,498
|
|||||
Bond
issue & placement costs (1)
|
5,225
|
5,992
|
|||||
Goods
for sale
|
8,770
|
-
|
|||||
Others
|
3,656
|
2,456
|
|||||
29,903
|
17,165
|
|
|
|
|
|
|
Types
of currency and index readjustment
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Bank
or
|
|
US
Dollar
|
|
Euro
|
|
Yen
|
|
Other
foreign currency
|
|
UF
|
|
ThCh$
non readjustables
|
|
TOTAL
|
|||||||||||||||
RUT
|
|
financial
institution
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
97023000-9
|
BANCO
CORPBANCA
|
1,120
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1,120
|
0
|
|||||||||||||||
97030000-7
|
BANCO
ESTADO
|
2,133
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
2,133
|
||||||||||||||||
97919000-K
|
ABN
AMRO BANK
|
0
|
7
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
7
|
|||||||||||||||
97039000-6
|
BANCO
SANTANDER
|
577
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
577
|
0
|
|||||||||||||||
Foreign
|
BANCO
DO BRASIL
|
1,032
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1,032
|
0
|
||||||||||||||||
Foreign
|
BANCO
BBVA
|
691
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
691
|
0
|
|||||||||||||||
97018000-1
|
SCOTIABANK
|
18,020
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
18,020
|
|||||||||||||||||
Foreign
|
BANCO
ITAU BBA S.A.
|
0
|
2,009
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
2,009
|
|||||||||||||||
Foreign
|
BANCO
MERCANTIL
|
0
|
0
|
0
|
0
|
0
|
0
|
49,746
|
21,546
|
0
|
0
|
0
|
0
|
49,746
|
21,546
|
|||||||||||||||
Foreign
|
BANCO
PROVINCIAL
|
0
|
0
|
0
|
0
|
0
|
0
|
7,078
|
8,209
|
0
|
0
|
0
|
0
|
7,078
|
8,209
|
|||||||||||||||
Foreign
|
BANCO
DE VENEZUELA
|
0
|
0
|
0
|
0
|
0
|
0
|
27,560
|
24,461
|
0
|
0
|
0
|
0
|
27,560
|
24,461
|
|||||||||||||||
Foreign
|
CITIBANK
VENEZUELA
|
0
|
0
|
0
|
0
|
0
|
0
|
9,734
|
9,672
|
0
|
0
|
0
|
0
|
9,734
|
9,672
|
|||||||||||||||
OTHERS
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||||
|
Total
|
23,573
|
2,016
|
94,118
|
63,888
|
117,691
|
65,904
|
|||||||||||||||||||||||
|
Principal
owed
|
22,496
|
2,000
|
92,474
|
63,347
|
114,970
|
65,347
|
|||||||||||||||||||||||
--------
|
Average
Rate
|
5.43
|
% |
5.65
|
% |
12.42
|
% |
2.10
|
% |
Types
of currency and index readjustment
|
||||||||||||||||||||||||||||||
|
Bank
or
|
|
US
Dollar
|
|
Euro
|
|
Yen
|
|
Other
foreign currency
|
|
UF
|
|
ThCh$
no adjustment
|
|
TOTAL
|
|||||||||||||||
RUT
|
|
financial
institution
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
|
30-09-2007
|
|
30-09-2006
|
97006000-6
|
BANCO
DE CREDITO E INVERSIONES
|
7,028
|
7,228
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
7,028
|
7,228
|
|||||||||||||||
97030000-7
|
BANCO
ESTADO
|
4,253
|
8,840
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
4,253
|
8,840
|
|||||||||||||||
97053000-2
|
BANCO
SECURITY
|
1,887
|
1,951
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1,887
|
1,951
|
|||||||||||||||
97023000-9
|
BANCO
CORPBANCA
|
11,718
|
14,451
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
11,718
|
14,451
|
|||||||||||||||
97039000-6
|
BANCO
SANTANDER
|
4,360
|
4,972
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
4,360
|
4,972
|
|||||||||||||||
Foreign
|
ABN
AMRO BANK
|
201
|
143
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
201
|
143
|
|||||||||||||||
Foreign
|
WESTDEUTSCHE
LANDESBANK
|
453
|
6,303
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
453
|
6,303
|
|||||||||||||||
Foreign
|
CITIBANK
N.A.
|
453
|
323
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
453
|
323
|
|||||||||||||||
Foreign
|
THE
BANK OF NOVA SCOTIA
|
453
|
323
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
453
|
323
|
|||||||||||||||
Foreign
|
RABOBANK
NEDERLAND
|
5,212
|
5,432
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
5,212
|
5,432
|
|||||||||||||||
Foreign
|
KREDITANSTALT
FUR WIEDERAUFBAU
|
3,805
|
3,803
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
3,805
|
3,803
|
|||||||||||||||
Foreign
|
BANCO
BBVA
|
1,452
|
2,939
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1,452
|
2,939
|
|||||||||||||||
Foreign
|
BANCO
ITAU BBA
|
1,083
|
1,033
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1,083
|
1,033
|
|||||||||||||||
Others
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||||
|
TOTAL
|
42,358
|
57,741
|
42,358
|
57,741
|
|||||||||||||||||||||||||
|
Equity
Amount in debt
|
39,921
|
55,169
|
39,921
|
55,169
|
|||||||||||||||||||||||||
--------
|
Average
Rate
|
6.50
|
% |
3.46
|
% |
Percentage
of the amount owed in foreign currency (%)
|
55.9800
|
|||
Percentage
of the amount owed in local currency (%)
|
44.0200
|
More
than 10 years
|
Date
close actual period
|
Date
close past period
|
||||||||||||||||||||
RUT
|
Bank
or financial institution
|
Currency
|
More
than 1 year Up to 2 year |
More
than 2 year up to 3 year
|
More
than 3 year Up to 5 year
|
More
than 5 year Up to 10 year
|
amount
|
term
|
Total
Long Term to close The financial Statements
|
Rate
|
Total
Long Term to close The financial Statements
|
|||||||||||
97006000-6
|
BANCO
DE CRÉDITO E INVERSIONES
|
Dollar
|
4,028
|
2,778
|
0
|
0
|
0
|
0
|
6,806
|
6.75
|
% |
12,083
|
||||||||||
Euros
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Yens
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
UF
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
non
adjustable $
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Other
currencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
97030000-7
|
BANCO
ESTADO
|
Dollar
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
4,232
|
||||||||||||
Euros
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Yens
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
UF
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
non
adjustable $
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Other
currencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
97036000-K
|
BANCO
SANTANDER
|
Dollar
|
592
|
0
|
0
|
0
|
0
|
0
|
592
|
6.46
|
% |
3,515
|
||||||||||
Euros
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Yens
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
UF
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
non
adjustable $
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Other
currencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
97023000-9
|
BANCO
CORPBANCA
|
Dollar
|
2,992
|
0
|
0
|
0
|
0
|
0
|
2,992
|
6.46
|
% |
11,002
|
||||||||||
|
|
Euros
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
Yens
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
UF
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
non
adjustable $
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
Other
currencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
More
than 10 years
|
Date
close actual period
|
Date
close past period
|
||||||||||||||||||||
RUT
|
Bank
or financial institution
|
Currency
|
More
than 1 year Up to 2 year
|
More
than 2 year up to 3 year
|
More
than 3 year Up to 5 year
|
More
than 5 year Up to 10 year
|
amount
|
term
|
Total
Long Term to close The financial Statements
|
Rate
|
Total
Long Term to close The financial Statements
|
|||||||||||
Foreign
|
CITIBANK
N.A.
|
Dollar
|
2,475
|
6,188
|
16,087
|
0
|
0
|
0
|
24,750
|
5.88
|
% |
24,751
|
||||||||||
Euros
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Yens
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
UF
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
non
adjustable $
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Other
currencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Foreign
|
RABOBANK
NEDERLAND
|
Dollar
|
6,475
|
10,188
|
20,837
|
2,000
|
0
|
0
|
39,500
|
6.04
|
% |
48,790
|
||||||||||
Euros
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Yens
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
UF
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
non
adjustable $
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Other
currencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Foreign
|
KREDITANSTALT
FUR WIEDERAUFBAU
|
Dollar
|
3,800
|
1,900
|
0
|
0
|
0
|
0
|
5,700
|
7.38
|
% |
9,500
|
||||||||||
|
|
Euros
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
Yens
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
UF
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
non
adjustable $
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
Other
currencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
More
than 10 years
|
Date
close actual period
|
Date
close past period
|
||||||||||||||||||||
RUT
|
Bank
or financial institution
|
Currency
|
More
than 1 year Up to 2 year
|
More
than 2 year up to 3 year
|
More
than 3 year Up to 5 year
|
More
than 5 year Up to 10 year
|
amount
|
term
|
Total
Long Term to close The financial Statements
|
Rate
|
Total
Long Term to close The financial Statements
|
|||||||||||
Foreign
|
WESTDEUTSCHE
LANDESBANK
|
Dollar
|
2,475
|
6,188
|
16,087
|
0
|
0
|
0
|
24,750
|
5.88
|
% |
28,233
|
||||||||||
Euros
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Yens
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
UF
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
non
adjustable $
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Other
currencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Foreign
|
BANCO
BBVA
|
Dollar
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1,444
|
||||||||||||
Euros
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Yens
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
UF
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
non
adjustable $
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Other
currencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||
Foreign
|
ABN
AMRO BANK
|
Dollar
|
1,100
|
2,750
|
7,150
|
0
|
0
|
0
|
11,000
|
5.88
|
% |
11,000
|
||||||||||
|
|
Euros
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
Yens
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
UF
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
non
adjustable $
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
|
|
Other
currencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||
TOTAL
|
31,995
|
36,180
|
76,248
|
2,000
|
0
|
146,423
|
181,051
|
Total
amount of liabilities in foreign currency:
|
0
|
%
|
||
Total
amount of liabilities in local currency:
|
100
|
%
|
Registration
Number or Instrument Identification
|
|
|
|
|
|
|
|
|
|
|
|
Periodicity
|
|
Par
Value
|
|
|
||||
Short
term Portion of Long Term Bond
|
|
Series
|
|
Nominal
amount Valid placement
|
|
Currency
of bond adjustment
|
|
Interest
rate
|
|
Final
maturity
|
|
Interest
Payment
|
|
Amortization
Payment
|
|
30-09-2007
|
|
30-09-2006
|
|
Place
of the transaction Chile or Foreign
|
356
|
SERIE
A
|
0
|
U.F.
|
5.00
|
% |
Semi
annual
|
2006
|
0
|
18,242
|
Local
|
||||||||||
355
|
SERIE
B
|
0
|
U.F.
|
6.25
|
% |
Semi
annual
|
2011
|
473
|
432
|
Local
|
||||||||||
336
|
SERIE
C
|
30,000,000
|
USD
|
5.00
|
% |
Semi
annual
|
2008
|
30,433
|
432
|
Local
|
||||||||||
440
|
SERIE
D
|
200,000
|
U.F.
|
4.25
|
% |
Semi
annual
|
2008
|
8,949
|
1,321
|
Local
|
||||||||||
439
|
SERIE
E
|
137,500
|
U.F.
|
4.75
|
% |
Semi
annual
|
2007
|
7,322
|
4,384
|
Local
|
||||||||||
356
|
SERIE
F
|
0
|
U.F.
|
3.50
|
% |
Semi
annual
|
2012
|
244
|
0
|
Local
|
||||||||||
356
|
SERIA
G
|
0
|
U.F.
|
3.50
|
% |
Semi
annual
|
2012
|
244
|
0
|
Local
|
||||||||||
356
|
SERIE
H
|
0
|
U.F.
|
4.35
|
% |
Semi
annual
|
2028
|
908
|
0
|
Local
|
||||||||||
PRIVATE
PLACEMENT
|
SERIE
B
|
9,000
|
USD
|
8.06
|
% |
Semi
annual
|
2006
|
9,275
|
9,548
|
Foreign
|
||||||||||
Total
Short Term Portion
|
|
57,848
|
34,359
|
|
||||||||||||||||
--------
|
||||||||||||||||||||
Long
Term Bond
|
|
|
|
|
|
|
|
|
|
|||||||||||
356
|
SERIE
A
|
0
|
U.F.
|
5.00
|
% |
Semi
annual
|
2006
|
0
|
59,187
|
Local
|
||||||||||
355
|
SERIE
B
|
702,000
|
U.F.
|
6.25
|
% |
Semi
annual
|
2011
|
26,336
|
24,054
|
Local
|
||||||||||
336
|
SERIE
C
|
0
|
USD
|
5.00
|
% |
Semi
annual
|
2008
|
0
|
30,000
|
Local
|
||||||||||
440
|
SERIE
D
|
1,800,000
|
U.F.
|
4.25
|
% |
Semi
annual
|
2008
|
67,694
|
68,835
|
Local
|
||||||||||
439
|
SERIE
E
|
2,543,750
|
U.F.
|
4.75
|
% |
Semi
annual
|
2007
|
96,156
|
92,188
|
Local
|
||||||||||
356
|
SERIE
F
|
500,000
|
U.F.
|
3.50
|
% |
Semi
annual
|
2012
|
18,709
|
0
|
Local
|
||||||||||
356
|
SERIA
G
|
500,000
|
U.F.
|
3.50
|
% |
Semi
annual
|
2012
|
18,709
|
0
|
Local
|
||||||||||
356
|
SERIE
H
|
1,500,000
|
U.F.
|
4.35
|
% |
Semi
annual
|
2028
|
56,165
|
0
|
Local
|
||||||||||
PRIVATE
PLACEMENT
|
SERIE
B
|
9,000
|
USD
|
8.06
|
% |
Semi
annual
|
2008
|
0
|
9,000
|
Foreign
|
||||||||||
Total
Long Term
|
|
|
|
|
|
|
283,769
|
283,264
|
|
2007
|
|
2006
|
|
||||
|
|
THUS$
|
|
THUS$
|
|||
Related
to the Personnel:
|
|||||||
Vacations
|
6,691
|
5,688
|
|||||
Gratifications
|
699
|
700
|
|||||
Sundry
compensations
|
1,330
|
-
|
|||||
Incentive
bonds to the personnel
|
4,173
|
3,117
|
|||||
Other
benefits
|
3,549
|
2,074
|
|||||
Other
Provisions:
|
|||||||
Participation
of the Board
|
800
|
508
|
|||||
Consultancies
and services
|
2,744
|
1,228
|
|||||
Major
repairs and plant shutdowns
|
1,450
|
722
|
|||||
Imports
and exports expenses
|
2,554
|
689
|
|||||
Commissions
|
1,953
|
1,682
|
|||||
Goods
and services receivable
|
1,755
|
2,181
|
|||||
Contingent
liabilities
|
1,701
|
825
|
|||||
Missing
inventories provision
|
808
|
-
|
|||||
Other
Taxes
|
8,800
|
4,809
|
|||||
Other
Provisions
|
1,286
|
1,941
|
|||||
TOTAL
|
40,293
|
26,164
|
Long-term
Provisions
|
|||||||
2007
|
|
|
2006
|
|
|||
|
|
|
THUS$
|
|
|
THUS$
|
|
Proforca
provision (*)
|
1,118
|
1,000
|
|||||
Antiquity
Bonds provision
|
259
|
-
|
|||||
Sundry
taxes provision
|
-
|
426
|
|||||
Severance
Payment Provision
|
280
|
-
|
|||||
TOTAL
|
1,657
|
1,426
|
Provisions
presented net from assets that originate
them:
|
2007
|
|
2006
|
|
||||
|
|
THUS$
|
|
THUS$
|
|||
Provision
for irretrievable debtors
|
6,396
|
6,736
|
|||||
Provision
for inventory
|
5,710
|
6,588
|
|||||
Provision
for fix assets
|
9,132
|
13,160
|
Expire
|
|
Values
|
|
|||||||||||||
|
|
2008
|
|
2009
|
|
2010
|
|
2007
|
|
2006
|
|
|||||
|
|
(
THUSD )
|
||||||||||||||
ICMS
Tax payable on long term
|
3,433
|
4,452
|
7,520
|
15,405
|
12,924
|
|||||||||||
Unrealized
profit made by coverage operations of
existing entries
|
637
|
-
|
-
|
637
|
2,631
|
|||||||||||
Swap
market value of rates and currencies
|
1,501
|
-
|
-
|
1,501
|
2,096
|
|||||||||||
TOTAL
|
5,571
|
4,452
|
7,520
|
17,543
|
17,651
|
Liabilities
|
Net
income
for
the period
|
||||||||||||
2007
|
|
2006
|
|
2007
|
|
2006
|
|||||||
THUS$
|
|
THUS$
|
|
THUS$
|
|
THUS$
|
|||||||
Forestal
Tornagaleones S.A.
|
7,545
|
6,519
|
(321
|
)
|
(92
|
)
|
|||||||
Forestal
Argentina S.A.
|
-
|
953
|
(12
|
)
|
(23
|
)
|
|||||||
Maderas
y Sintéticos de Peru S.A.
|
7
|
5
|
-
|
-
|
|||||||||
Corporación
Forestal Guayamure C.A.
|
2,009
|
1,967
|
11
|
99
|
|||||||||
Invers.
Internacionales Terranova S.A.
|
708
|
7,904
|
7,646
|
7,548
|
|||||||||
Masisa
Madeiras Ltda.
|
7
|
6
|
-
|
-
|
|||||||||
Corporación
Forestal de Venezuela C.A.
|
1
|
-
|
-
|
-
|
|||||||||
Total
|
10,277
|
17,354
|
7,324
|
7,532
|
On
2007:
|
|||||||||||||
Dividend
|
|
|
|
Month
paid
|
|
Dividend
per
share
|
|
No,
of third
party
shares
|
|
||||
|
|
|
|
|
|
US$
|
|
|
|||||
Mandatory |
Year
2006 No.12
|
May-2007
|
0.0013197737 |
5,667,750,881
|
|||||||||
Additional |
Year
2006 No.12
|
May-2007
|
0.0008798492 |
5,667,750,881
|
On
2006:
|
|||||||||||||
Dividend
|
Month
paid
|
|
Dividend
per
share
|
|
No,
of third
party
shares
|
|
|||||||
|
|
|
|
|
|
US$
|
|||||||
Mandatory
|
Year
2005 No.11
|
May-2006
|
0.001216508
|
5,667,750,881
|
|||||||||
Additional
|
Year
2005 No.11
|
May-2006
|
0.000811005
|
5,667,750,881
|
|
30-09-2007
|
|||||||||||||||||||||||||||
Paid-in
capital
|
Reserve
for Capital Revaluation
|
Overpricing
on sales of shares
|
Other
Reserves
|
Reserve
for future dividends
|
Accumulated
income
|
Interim
Dividends
|
Deficit
during development period
|
Period
Income
|
||||||||||||||||||||
Initial
Balance
|
812,880
|
219,494
|
51,424
|
73,072
|
29,485
|
|||||||||||||||||||||||
Previous
period income distribution
|
29,485
|
-29,485
|
||||||||||||||||||||||||||
Definitive
dividend of previous period
|
-12,468
|
|||||||||||||||||||||||||||
Capital
Increase with shares issue
|
0
|
|||||||||||||||||||||||||||
Capitalization
of reserves and/or profits
|
||||||||||||||||||||||||||||
Deficit
accumulated during development period
|
||||||||||||||||||||||||||||
Dividends
Payment
|
||||||||||||||||||||||||||||
Capital
effects due to merger
|
-14,972
|
|||||||||||||||||||||||||||
Adjustment
For Conversion difference
|
2,186
|
|||||||||||||||||||||||||||
Forestry
reserve
|
||||||||||||||||||||||||||||
Emission
and placement costs
|
0
|
|||||||||||||||||||||||||||
Previous
period income Adjustments
|
||||||||||||||||||||||||||||
Capital
reduction due to end of legal period
|
0
|
|||||||||||||||||||||||||||
Equity
capital revaluation
|
0
|
0
|
||||||||||||||||||||||||||
Net
income for the period
|
26,488
|
|||||||||||||||||||||||||||
Interim
dividends
|
||||||||||||||||||||||||||||
Final
Balance
|
812,880
|
0
|
0
|
206,708
|
51,424
|
90,089
|
0
|
0
|
26,488
|
|||||||||||||||||||
Actualized
Balance
|
|
30-09-2006
|
|||||||||||||||||||||||||||
|
Paid-in
capital
|
Reserve
for Capital Revaluation
|
Overpricing
on sales of shares
|
Other
Reserves
|
Reserve
for future dividends
|
Accumulated
income
|
Interim
Dividends
|
Deficit
during development period
|
Period
Income
|
|||||||||||||||||||
Initial
Balance
|
769,834
|
188,477
|
51,424
|
60,129
|
0
|
0
|
26,369
|
|||||||||||||||||||||
Previous
period income distribution
|
0
|
0
|
26,369
|
0
|
0
|
-26,369
|
||||||||||||||||||||||
Definitive
dividend of previous period
|
0
|
0
|
0
|
0
|
0
|
-11,491
|
0
|
0
|
0
|
|||||||||||||||||||
Capital
Increase with shares issue
|
44,012
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||||
Capitalization
of reserves and/or profits
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||||
Deficit
accumulated during development period
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||||
Dividends
Payment
|
0
|
0
|
0
|
-1,519
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||||
Forestry
reserve
|
0
|
0
|
0
|
-12,879
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||||
Adjustment
For Conversion difference
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||||
Capital
effects due to merger
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||||
Emission
and placement costs
|
0
|
0
|
0
|
0
|
0
|
-1,935
|
0
|
0
|
0
|
|||||||||||||||||||
Previous
period income Adjustments
|
0
|
0
|
-903
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||||||||
Capital
reduction due to end of legal period
|
-966
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||||||||
Equity
capital revaluation
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
19,096
|
|||||||||||||||||||
Net
income for the period
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||||
Interim
dividends
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||||||||||||
Final
Balance
|
812,880
|
0
|
0
|
173,176
|
51,424
|
73,072
|
0
|
0
|
19,096
|
|||||||||||||||||||
Actualized
Balance
|
812,880
|
0
|
0
|
173,176
|
51,424
|
73,072
|
0
|
0
|
19,096
|
Series
|
Numbers
shares subscribed
|
Numbers
paid shares
|
Outstanding
shares
|
|||||||
Unique
|
5,667,750,881
|
5,667,750,881
|
5,667,750,881
|
Series
|
Subscribed
Capital
|
Paid
Capital
|
|||||
Unique
|
812,880
|
812,880
|
Share
repurchase
|
|||||||||||||
Share
repurchase reason
|
Share
repurchase date
|
No
of Shares
|
Series
|
|
|
Amount
|
|||||||
Merger
|
01/07/2003
|
87,871,054
|
Unique
|
16,828
|
|||||||||
Withdrawal
right
|
26/12/2003
|
13,538,394
|
Unique
|
1,550
|
|||||||||
Withdrawal
right old Terranova S.A.
|
27/05/2005
|
12,647,263
|
Unique
|
3,202
|
|||||||||
Withdrawal
right old Masisa S.A.
|
27/05/2005
|
5,431,721
|
Unique
|
1,379
|
Portfolio
decrease
|
||||||||||
Reason
|
Date
|
No
of Shares
|
Amount
|
|||||||
Capital
Decrease
|
31-10-2004
|
87,871,054
|
16,828
|
|||||||
Capital
Decrease
|
26-12-2004
|
13,538,394
|
1,550
|
|||||||
Preferent
Offer
|
12-12-2005
|
10,806,939
|
2,738
|
|||||||
Preferent
Offer
|
06-01-2006
|
3,459,841
|
877
|
|||||||
Capital
Decrease
|
27-05-2006
|
3,812,204
|
966
|
2007
|
|
2006
|
|
||||
|
|
THUS$
|
|
THUS$
|
|||
Other
non-operating income
|
|||||||
Gain
on sale of goods & services
|
640
|
921
|
|||||
Tax
devolution
|
-
|
856
|
|||||
Others
|
665
|
934
|
|||||
Total
|
1,305
|
2,711
|
(1)
|
Due
to that the supply of wood for the industrial plants in Venezuela
was
assured with a wood supply agreement with Proforca under unfavorable
conditions, on March 2006 it was accorded with Proforca the repair
and
refund of a sawmill that was being rented and the wood supply contract
was
ended. This contract ending meant compensation payments and repair
expenses on the sawmill that are stated in Other expenses outside
the
operation in the Income Statement.
|
(2)
|
In
February 2007, the shut down of the MDF Moulding plant at Charleston
was
materialized. This decision implied associated losses regarding severance
payments, write offs associated to raw materials and other expenses
directly related to the closing of the
facilities.
|
(3)
|
In
January 2007, a forest fire burned down a total of 1,171 has, of
standing
forests in Chile, which implied the acknowledgement of an estimated
loss
to the company, net of estimated involved insurance
payments.
|
ASSETS
(DEBITS) / CREDITS
|
READJUSTMENT
INDEX
|
|
30-09-2007
|
|
30-09-2006
|
|||||
INVENTORIES
|
0
|
0
|
||||||||
FIXED
ASSET
|
IPC
|
6,097
|
2,549
|
|||||||
INVESTMENT
IN RELATED COMPANIES
|
IPC
|
4,091
|
1,669
|
|||||||
OTHER
NON MONETARY ASSETS
|
IPC
|
5
|
-98
|
|||||||
EXPENSES
AND COSTS ACCOUNTS
|
0
|
|||||||||
TOTAL
(DEBITS) CREDITS
|
10,193
|
4,120
|
||||||||
LIABILITIES
(DEBITS) / CREDITS
|
||||||||||
EQUITY
|
IPC
|
-7,359
|
-3,027
|
|||||||
NON
MONETARY LIABILITIES
|
IPC
|
0
|
0
|
|||||||
INCOME
ACCOUNTS
|
IPC
|
0
|
0
|
|||||||
TOTAL
(DEBITS) CREDITS
|
-7,359
|
-3,027
|
||||||||
(LOSS)
PROFIT FROM PRICE LEVEL
|
2,834
|
1,093
|
Account
|
|
Amount
|
||||||||
Assets
(Debits) / Credit
|
Currency
|
|
30-09-2007
|
|
30-09-2006
|
|||||
Cash
|
Argentinean
Peso
|
-126
|
-52
|
|||||||
Cash
|
Chilean
Peso
|
-324
|
-6,203
|
|||||||
Cash
|
Mexican
Peso
|
-45
|
-141
|
|||||||
Cash
|
Brazilian
Real
|
337
|
104
|
|||||||
Cash
|
Bolivars
|
-71
|
-24
|
|||||||
Cash
|
Other
Currencies
|
-16
|
-564
|
|||||||
Time
deposits
|
Other
Currencies
|
167
|
0
|
|||||||
Marketable
securities
|
Bolivars
|
2
|
0
|
|||||||
Marketable
securities
|
Chilean
Peso
|
93
|
420
|
|||||||
Marketable
securities
|
Brazilian
Real
|
1,169
|
1,185
|
|||||||
Accounts
receivable
|
Argentinean
Peso
|
-95
|
14
|
|||||||
Accounts
receivable
|
Chilean
Peso
|
1,311
|
72
|
|||||||
Accounts
receivable
|
Mexican
Peso
|
-130
|
-427
|
|||||||
Accounts
receivable
|
Brazilian
Real
|
3,837
|
1,314
|
|||||||
Accounts
receivable
|
Bolivars
|
-2
|
0
|
|||||||
Accounts
receivable
|
Other
Currencies
|
337
|
93
|
|||||||
Notes
receivable
|
Chilean
Peso
|
-76
|
-1,427
|
|||||||
Notes
receivable
|
Argentinean
Peso
|
-10
|
-125
|
|||||||
Notes
receivable
|
Brazilian
Real
|
111
|
0
|
|||||||
Notes
receivable
|
Mexican
Peso
|
-52
|
-174
|
|||||||
Notes
receivable
|
Bolivars
|
11
|
-2
|
|||||||
Notes
receivable
|
Other
Currencies
|
46
|
0
|
|||||||
Sundry
debtors
|
Chilean
Peso
|
240
|
-112
|
|||||||
Sundry
debtors
|
Bolivars
|
43
|
0
|
|||||||
Sundry
debtors
|
Argentinean
Peso
|
-23
|
-33
|
|||||||
Sundry
debtors
|
Mexican
Peso
|
4
|
-45
|
|||||||
Sundry
debtors
|
Other
Currencies
|
135
|
-39
|
|||||||
Sundry
debtors
|
Brazilian
Real
|
587
|
228
|
|||||||
Inventories
|
Mexican
Peso
|
-2
|
0
|
|||||||
Inventories
|
Brazilian
Real
|
8
|
-263
|
|||||||
Inventories
|
Other
Currencies
|
12
|
0
|
|||||||
Recoverable
taxes
|
Argentinean
Peso
|
-85
|
-167
|
|||||||
Recoverable
taxes
|
Chilean
Peso
|
530
|
-787
|
|||||||
Recoverable
taxes
|
Mexican
Peso
|
-40
|
-198
|
|||||||
Recoverable
taxes
|
Brazilian
Real
|
1,310
|
1,051
|
|||||||
Recoverable
taxes
|
Bolivars
|
-5
|
-3
|
|||||||
Recoverable
taxes
|
Other
Currencies
|
211
|
-26
|
|||||||
Prepaid
expenses
|
Chilean
Peso
|
298
|
-188
|
|||||||
Prepaid
expenses
|
Argentinean
Peso
|
0
|
4
|
|||||||
Prepaid
expenses
|
Bolivars
|
1
|
0
|
|||||||
Prepaid
expenses
|
Brazilian
Real
|
137
|
22
|
|||||||
Prepaid
expenses
|
Mexican
Peso
|
-1
|
0
|
|||||||
Prepaid
expenses
|
Other
Currencies
|
47
|
0
|
|||||||
Others
current assets
|
Chilean
Peso
|
-5
|
-10
|
|||||||
Others
current assets
|
Mexican
Peso
|
-11
|
-8
|
|||||||
Others
current assets
|
Brazilian
Real
|
0
|
-12
|
|||||||
Investment
in relates companies
|
Chilean
Peso
|
356
|
1,043
|
|||||||
Investment
in other societies
|
Chilean
Peso
|
-5
|
0
|
|||||||
Long
term debtors
|
Chilean
Peso
|
34
|
102
|
|||||||
Long
term debtors
|
Brazilian
Real
|
292
|
147
|
|||||||
Long
term debtors
|
Argentinean
Peso
|
-4
|
-1
|
|||||||
Others
assets
|
Argentinean
Peso
|
1
|
0
|
|||||||
Others
assets
|
Chilean
Peso
|
1,098
|
-299
|
|||||||
Others
assets
|
Brazilian
Real
|
161
|
10
|
|||||||
Others
assets
|
Other
Currencies
|
1
|
98
|
|||||||
Total
(Debits) Credits
|
11,799
|
-5,423
|
Amount
|
||||||||||
Account
|
Currency
|
|
30-09-2007
|
|
30-09-2006
|
|||||
LIABILITIES
(DEBIT)/CREDIT
|
||||||||||
Short-term
financial liabilities
|
Brazilian
Real
|
-75
|
0
|
|||||||
Short-term
financial liabilities
|
Bolivars
|
-7,172
|
-7,907
|
|||||||
Obligations
with the public
|
Mexican
Peso
|
204
|
0
|
|||||||
Obligations
with the public
|
U.F.
|
-13,776
|
6,887
|
|||||||
Accounts
payable
|
Argentinean
Peso
|
22
|
96
|
|||||||
Accounts
payable
|
Mexican
Peso
|
-50
|
-35
|
|||||||
Accounts
payable
|
Chilean
Peso
|
-11
|
251
|
|||||||
Accounts
payable
|
Brazilian
Real
|
-1,219
|
-356
|
|||||||
Accounts
payable
|
Bolivars
|
-35
|
-1
|
|||||||
Accounts
payable
|
Other
Currencies
|
-282
|
-30
|
|||||||
Notes
payable
|
Brazilian
Real
|
0
|
-89
|
|||||||
Notes
payable
|
Bolivars
|
-27
|
0
|
|||||||
Sundry
creditors
|
Chilean
Peso
|
-536
|
5
|
|||||||
Sundry
creditors
|
Argentinean
Peso
|
0
|
-3
|
|||||||
Sundry
creditors
|
Brazilian
Real
|
56
|
-6
|
|||||||
Sundry
creditors
|
Other
Currencies
|
0
|
4
|
|||||||
Accounts
payable related companies
|
Chilean
Peso
|
1,439
|
-946
|
|||||||
Accounts
payable related companies
|
Brazilian
Real
|
-23
|
-19
|
|||||||
Accounts
payable related companies
|
Argentinean
Peso
|
2
|
53
|
|||||||
Accounts
payable related companies
|
Mexican
Peso
|
109
|
0
|
|||||||
Accounts
payable related companies
|
Other
Currencies
|
24
|
88
|
|||||||
Accounts
payable related companies
|
Bolivars
|
8
|
0
|
|||||||
Provisions
|
Chilean
Peso
|
-310
|
165
|
|||||||
Provisions
|
Bolivars
|
-13
|
-1
|
|||||||
Provisions
|
Other
Currencies
|
-14
|
0
|
|||||||
Provisions
|
Argentinean
Peso
|
239
|
115
|
|||||||
Provisions
|
Brazilian
Real
|
-758
|
-328
|
|||||||
Provisions
|
Mexican
Peso
|
3
|
11
|
|||||||
Provisions
|
#N/A
|
4
|
0
|
|||||||
Withholdings
|
Bolivars
|
2
|
3
|
|||||||
Withholdings
|
Chilean
Peso
|
-1
|
0
|
|||||||
Withholdings
|
Mexican
Peso
|
32
|
0
|
|||||||
Withholdings
|
Brazilian
Real
|
-1,382
|
0
|
|||||||
Withholdings
|
Other
Currencies
|
27
|
0
|
|||||||
Withholdings
|
Argentinean
Peso
|
95
|
50
|
|||||||
Income
tax
|
Chilean
Peso
|
-102
|
110
|
|||||||
Income
tax
|
Brazilian
Real
|
-14
|
-865
|
|||||||
Income
tax
|
Other
Currencies
|
-88
|
64
|
|||||||
Income
tax
|
Argentinean
Peso
|
0
|
76
|
|||||||
Income
tax
|
Mexican
Peso
|
24
|
-65
|
|||||||
Other
current liabilities
|
Chilean
Peso
|
-30
|
-178
|
|||||||
Other
current liabilities
|
Brazilian
Real
|
-1,526
|
-1,043
|
|||||||
Other
current liabilities
|
Argentinean
Peso
|
-9
|
0
|
|||||||
Long-term
financial liabilities
|
Chilean
Peso
|
-222
|
-452
|
|||||||
Obligations
with the public long term
|
U.F.
|
8,432
|
-497
|
|||||||
Other
long-term liabilities
|
Chilean
Peso
|
258
|
51
|
|||||||
Other
long-term liabilities
|
Mexican
Peso
|
9
|
23
|
|||||||
Other
long-term liabilities
|
Other
Currencies
|
-4
|
0
|
|||||||
Other
long-term liabilities
|
Argentinean
Peso
|
168
|
109
|
|||||||
Other
long-term liabilities
|
Brazilian
Real
|
-529
|
-54
|
|||||||
Total
(debit) / credits
|
|
-17,051
|
-4,714
|
|||||||
(Loss)
Profits from exchange difference
|
-5,252
|
-10,137
|
2007
|
|
2006
|
|||||
ThUS$
|
ThUS$
|
||||||
Stamp
taxes
|
6,661
|
7,524
|
|||||
Placement
& auction fees
|
812
|
687
|
|||||
Bond
auction fees
|
305
|
284
|
|||||
Credit
rating advice
|
260
|
230
|
|||||
Registration
& inscription fees
|
33
|
42
|
|||||
Legal
advice
|
40
|
28
|
|||||
Printing
costs
|
22
|
20
|
|||||
Other
costs
|
463
|
128
|
|||||
Total
costs
|
8,596
|
8,943
|
|||||
Accumulated
amortization
|
(2,616
|
)
|
(1,983
|
)
|
|||
Balance
to be amortized
|
5,980
|
6,960
|
2007
|
2006
|
||||||
ThUS$
|
ThUS$
|
||||||
Financial
advice
|
3,027
|
3,027
|
|||||
Placement
fees
|
352
|
352
|
|||||
Publications
|
641
|
641
|
|||||
Legal
advice
|
426
|
426
|
|||||
Printing
& other costs
|
70
|
70
|
|||||
Total
costs
|
4,516
|
4,516
|
2007
|
|||||||
Initial
balance
|
|
Initial
balance
|
|
||||
MUS$
|
MUS$
|
||||||
Cash
|
16,705
|
14,275
|
|||||
Time
deposits
|
29,388
|
41,679
|
|||||
Marketable
securities
|
956
|
1,154
|
|||||
47,049
|
57,108
|
2006
|
|||||||
|
Initial
balance
|
|
|
Initial
balance
|
|
||
ThUS$
|
ThUS$
|
||||||
Cash
|
11,987
|
11,148
|
|||||
Time
deposits
|
82,906
|
50,846
|
|||||
Marketable
securities
|
2,424
|
201
|
|||||
Buy-back
agreements
|
540
|
||||||
97,857
|
62,195
|
2007
|
2006
|
||||||
ThUS$
|
ThUS$
|
||||||
Depletion
Argentina
|
630
|
900
|
|||||
Depletion
Brazil
|
3,737
|
4,419
|
|||||
Depletion
Chile
|
7,068
|
6,878
|
|||||
Depletion
Venezuela
|
2,448
|
2,747
|
|||||
Total
|
13,883
|
14,944
|
Affected
Account
|
||||||||||||||||||||||||
Description
of the contract
|
Protected
|
Assets
/ Liabilities
|
Effect
On Income
|
|||||||||||||||||||||
Type
|
Contract
|
Value
|
Maturity
|
Class
|
Buy
/ Sale
|
Name
|
Amount
|
Value
|
Name
|
Amount
|
Realized
|
Unrealized
|
||||||||||||
S
|
CCPE
|
23,277
|
IV-2010
|
Currency
exchange
|
C
|
U.F.
Bonds
|
16,294
|
17,361
|
Other
long-term assets
|
1,278
|
144
|
2,303
|
||||||||||||
S
|
CCPE
|
46,553
|
IV-2010
|
Currency
exchange
|
C
|
U.F.
Bonds
|
32,587
|
34,722
|
Other
long-term assets
|
2,576
|
-119
|
4,838
|
||||||||||||
S
|
CCPE
|
33,523
|
IV-2012
|
Currency
exchange
|
C
|
U.F.
Bonds
|
33,523
|
35,349
|
Other
long-term assets
|
2,639
|
-230
|
440
|
||||||||||||
S
|
CCPE
|
33,523
|
IV-2012
|
Currency
exchange
|
C
|
U.F.
Bonds
|
33,523
|
35,349
|
Other
long-term assets
|
2,206
|
-206
|
224
|
||||||||||||
S
|
CCPE
|
15,000
|
IV-2026
|
Currency
exchange
|
C
|
U.F.
Bonds
|
14,625
|
15,220
|
Other
long-term assets
|
1,117
|
-129
|
316
|
||||||||||||
S
|
CI
|
20,000
|
IV-2010
|
Currency
exchange
|
C
|
Future
Flows
|
14,000
|
14,826
|
Other
long-term liabilities
|
1,708
|
-3
|
0
|
Expiry
|
ThUS$
|
|||
2007
|
11
|
|||
Total
|
11
|
-
|
By
the incorporation of Oxinova C.A. an affiliate in the Republic
of
Venezuela, the affiliate Inversiones Internacionales Terranova
S.A. signed
a shareholders agreement with the company Oxiquim S.A., mainly
for the
purpose of restricting the sale of shares, in order not to establish
a
pledge, or levy any share that is of its property and to maintain
the
control of Fibranova C.A., whether through Masisa S.A. or
directly.
|
1.
|
The
land sites where the plantations are located are the property of
the
company CVG Proforca C.A., and they are not part of the
sale.
|
2.
|
The
processing of the documents and obtaining future permits that may
be
required and its costs, shall be on the account for
TDVSSA.
|
3.
|
CVG,Proforca
C.A. shall compensate TDVSA in the event that the latter should
incur in
expenses and costs due to the non compliance of CVG Proforca C.A.
as
owner, holder and operator of the mentioned
goods.
|
4.
|
TDVSA
is bound to comply with environmental protection regulations in
order to
prevent fires, industrial hygiene and safety, current lumbering
and
maintenance of feasibility and infrastructure, as well as how to
carry out
the risk analysis in order to prevent fires and the creation of
an
operational plan for fighting
fires.
|
5.
|
TDVSA
shall have the required insurance policies in order to cover third
party
expenditures, while the beneficiary shall be CVG Proforca C.A.
|
-
|
To
reforest on its account for its benefit (except for the previously
mentioned consideration to CVG Proforca C.A.) the parts that have
been
planted by TDVSA during the first twenty years this contract is
valid.
|
-
|
To
establish a bond for the true compliance of obligations assumed
under this
contract in favor of CVG Proforca C.A. for the total amount of
THUS$
300.
|
Debtor
|
Compromised
Assets
|
Outstanding
amount as of the end of the period
|
Liberation
of guarantees
|
||||||||||||||||||||||
Institution
|
Name
|
Relation
|
Guaranty
Type
|
Type
|
Account
value
|
30-09-2007
|
30-09-2006
|
30-09-2008
|
Assets
|
30-09-2009
|
Assets
|
30-09-2010
|
Assets
|
||||||||||||
BANCO
BBVA
|
ANDINOS
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
443
|
443
|
908
|
298
|
144
|
0
|
|||||||||||||||
BANCO
DEL ESTADO DE CHILE
|
ANDINOS
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
851
|
851
|
1,745
|
574
|
278
|
0
|
|||||||||||||||
BANCO
SANTANDER
|
ANDINOS
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
1,601
|
1,601
|
3,281
|
1,078
|
522
|
0
|
|||||||||||||||
CITIBANK
VENEZUELA
|
ANDINOS
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
0
|
0
|
2,194
|
0
|
0
|
0
|
|||||||||||||||
WESTDEUTSCHE
LANDESBANK
|
ANDINOS
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
0
|
0
|
1,039
|
0
|
0
|
0
|
|||||||||||||||
KREDITANSTALT
FUR WIEDERAUFBAU
|
ANDINOS
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
1,162
|
1,162
|
1,548
|
402
|
380
|
380
|
|||||||||||||||
RABOBANK
NEDERLAND
|
FORESTAL
ARGENTINA S.A.
|
Subsidiary
|
Suretyship
|
Equity
|
0
|
0
|
5,478
|
0
|
0
|
0
|
|||||||||||||||
BANCO
PROVINCIAL
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
9,306
|
9,306
|
8,214
|
9,306
|
0
|
0
|
|||||||||||||||
BANCO
BBVA
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
2,583
|
2,583
|
3,025
|
2,101
|
482
|
0
|
|||||||||||||||
BANCO
CORPBANCA
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
25,067
|
25,067
|
25,050
|
21,061
|
4,005
|
0
|
|||||||||||||||
BANCO
DE CRÉDITO E INVERSIONES
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
8,202
|
8,202
|
7,805
|
6,952
|
1,250
|
0
|
|||||||||||||||
BANCO
DE VENEZUELA S.A.
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
22,722
|
22,722
|
27,717
|
22,722
|
0
|
0
|
|||||||||||||||
BANCO
DEL ESTADO DE CHILE
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
8,867
|
8,867
|
10,386
|
7,214
|
1,653
|
0
|
|||||||||||||||
BANCO
MERCANTIL
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
26,585
|
26,585
|
27,418
|
26,585
|
0
|
0
|
|||||||||||||||
BANCO
SANTANDER
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
3,882
|
3,882
|
3,695
|
3,290
|
592
|
0
|
|||||||||||||||
BANCO
SECURITY
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
3,827
|
3,827
|
3,646
|
3,244
|
583
|
0
|
|||||||||||||||
CITIBANK
VENEZUELA
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
2,339
|
2,339
|
3,651
|
2,339
|
0
|
0
|
Debtor
|
Compromised
Assets
|
Outstanding
amount as of the end of the period
|
Liberation
of guarantees
|
|||||||||||||||||||||||
Institution |
Name
|
Relation |
Guaranty
Type
|
Type
|
Account
value
|
30-09-2007
|
30-09-2006
|
30-09-2008
|
Assets
|
30-09-2009
|
Assets
|
30-09-2010
|
Assets
|
|||||||||||||
WESTDEUTSCHE
LANDESBANK
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
13,808
|
13,808
|
16,008
|
13,808
|
0
|
0
|
||||||||||||||||
BNP
PARIBAS
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
7,823
|
7,823
|
7,245
|
7,823
|
0
|
0
|
||||||||||||||||
KREDITANSTALT
FUR WIEDERAUFBAU
|
FIBRANOVA
C.A.
|
Subsidiary
|
Suretyship
|
Equity
|
10,459
|
10,459
|
13,933
|
3,619
|
3,420
|
3,420
|
||||||||||||||||
BANCO
DE CRÉDITO E INVERSIONES
|
MASISA
ARGENTINA S.A.
|
Subsidiary
|
Suretyship
|
Equity
|
8,392
|
8,392
|
11,188
|
2,836
|
2,778
|
2,778
|
||||||||||||||||
RABOBANK
NEDERLAND
|
MASISA
ARGENTINA S.A.
|
Subsidiary
|
Suretyship
|
Equity
|
7,553
|
7,553
|
10,070
|
2,553
|
2,500
|
2,500
|
||||||||||||||||
ABN
AMRO BANK
|
MASISA
OVERSEAS LIMITED
|
Subsidiary
|
Suretyship
|
Equity
|
11,036
|
11,036
|
11,033
|
36
|
1,100
|
2,750
|
||||||||||||||||
CITIBANK
N.A.
|
MASISA
OVERSEAS LIMITED
|
Subsidiary
|
Suretyship
|
Equity
|
24,831
|
24,831
|
24,824
|
81
|
2,475
|
6,188
|
||||||||||||||||
RABOBANK
NEDERLAND
|
MASISA
OVERSEAS LIMITED
|
Subsidiary
|
Suretyship
|
Equity
|
24,831
|
24,831
|
24,824
|
81
|
2,475
|
6,188
|
||||||||||||||||
THE
BANK OF NOVA SCOTIA
|
MASISA
OVERSEAS LIMITED
|
Subsidiary
|
Suretyship
|
Equity
|
24,831
|
24,831
|
24,824
|
81
|
2,475
|
6,188
|
||||||||||||||||
WESTDEUTSCHE
LANDESBANK
|
MASISA
OVERSEAS LIMITED
|
Subsidiary
|
Suretyship
|
Equity
|
24,831
|
24,831
|
24,824
|
81
|
2,475
|
6,188
|
||||||||||||||||
BANCO
BBVA
|
MASISA
MADEIRAS LIMITADA
|
Subsidiary
|
Suretyship
|
Equity
|
295
|
295
|
491
|
199
|
96
|
0
|
||||||||||||||||
BANCO
DEL ESTADO DE CHILE
|
MASISA
MADEIRAS LIMITADA
|
Subsidiary
|
Suretyship
|
Equity
|
567
|
567
|
945
|
382
|
185
|
0
|
||||||||||||||||
BANCO
ITAU BBA
|
MASISA
MADEIRAS LIMITADA
|
Subsidiary
|
Suretyship
|
Equity
|
2,042
|
2,042
|
1,006
|
1,042
|
1,000
|
0
|
||||||||||||||||
BANCO
DO BRASIL
|
MASISA
MADEIRA
|
Subsidiary
|
Suretyship
|
Equity
|
1,015
|
1,015
|
0
|
1,015
|
0
|
0
|
|
|
Debtor
|
Compromised
Assets
|
Outstanding
amount as of the end of the period
|
Liberation
of guarantees
|
|||||||||||||||||||||
Institution
|
Name
|
Relation
|
Guaranty
Type
|
Type
|
Account
value
|
30-09-2007
|
30-09-2006
|
30-09-2008
|
Assets
|
30-09-2009
|
Assets
|
30-09-2010
|
Assets
|
|||||||||||||
BANCO
SANTANDER
|
MASISA
MADEIRAS LIMITADA
|
Subsidiary
|
Suretyship
|
Equity
|
1,067
|
1,067
|
1,776
|
719
|
348
|
0
|
||||||||||||||||
WESTDEUTSCHE
LANDESBANK
|
INVERSIONES
INTERNACIONALES TERRANOVA
|
Subsidiary
|
Suretyship
|
Equity
|
0
|
0
|
5,224
|
0
|
0
|
0
|
||||||||||||||||
KREDITANSTALT
FUR WIEDERAUFBAU
|
INVERSIONES
INTERNACIONALES TERRANOVA
|
Subsidiary
|
Suretyship
|
Equity
|
0
|
0
|
15,020
|
0
|
0
|
0
|
||||||||||||||||
CITIBANK
VENEZUELA
|
TERRANOVA
VENEZUELA S.A.
|
Subsidiary
|
Suretyship
|
Equity
|
0
|
0
|
3,705
|
0
|
0
|
0
|
||||||||||||||||
WESTDEUTSCHE
LANDESBANK
|
TERRANOVA
VENEZUELA S.A.
|
Subsidiary
|
Suretyship
|
Equity
|
5,996
|
5,996
|
9,965
|
5,996
|
0
|
0
|
||||||||||||||||
BANQUE
EUROPEENNE POUR AM
|
TERRANOVA
VENEZUELA S.A.
|
Subsidiary
|
Suretyship
|
Equity
|
0
|
0
|
0
|
0
|
0
|
0
|
||||||||||||||||
BANCO
DE CHILE
|
OXINOVA
C.A.
|
Joined
|
Suretyship
|
Equity
|
4,900
|
4,900
|
4,900
|
4,900
|
0
|
0
|
||||||||||||||||
291,714
|
291,714
|
348,605
|
152,418
|
31,216
|
36,580
|
a)
|
Assets
|
|
|
Amount
|
||||
Account
|
Currency
|
30-09-2007
|
30-09-2006
|
|||
Cash
|
Chilean
peso
|
1,194
|
0
|
|||
Cash
|
Dollar
|
3,892
|
4,811
|
|||
Cash
|
Argentinean
Peso
|
1,945
|
0
|
|||
Cash
|
Brazilian
Real
|
4,303
|
1,848
|
|||
Cash
|
Mexican
Peso
|
1,021
|
2,963
|
|||
Cash
|
Bolivars
|
1,506
|
692
|
|||
Cash
|
Other
currencies
|
394
|
828
|
|||
Cash
|
Euro
|
20
|
6
|
|||
Time
deposit
|
Dollar
|
20,716
|
44,143
|
|||
Time
deposit
|
Euro
|
123
|
89
|
|||
Time
deposit
|
Mexican
Peso
|
9,707
|
0
|
|||
Time
deposit
|
Bolivars
|
18
|
886
|
|||
Time
deposit
|
Brazilian
Real
|
11,060
|
5,267
|
|||
Time
deposit
|
Other
currencies
|
691
|
461
|
|||
Marketable
securities
|
Chilean
peso
|
1,154
|
201
|
|||
Accounts
receivable
|
Chilean
peso
|
25,512
|
29,727
|
|||
Accounts
receivable
|
Euro
|
1,199
|
295
|
|||
Accounts
receivable
|
Dollar
|
48,552
|
62,854
|
|||
Accounts
receivable
|
Argentinean
Peso
|
3,789
|
2,579
|
|||
Accounts
receivable
|
Brazilian
Real
|
27,816
|
546
|
|||
Accounts
receivable
|
Bolivars
|
17,818
|
12,102
|
|||
Accounts
receivable
|
Other
currencies
|
3,670
|
3,721
|
|||
Accounts
receivable
|
Mexican
Peso
|
16,318
|
29,228
|
|||
Notes
receivable
|
Chilean
peso
|
3,042
|
2,196
|
|||
Notes
receivable
|
Dollar
|
1,600
|
2,466
|
|||
Notes
receivable
|
Argentinean
Peso
|
3,743
|
3,540
|
|||
Notes
receivable
|
Other
currencies
|
17
|
386
|
|||
Notes
receivable
|
Brazilian
Real
|
0
|
2
|
|||
Notes
receivable
|
Mexican
Peso
|
650
|
2,378
|
|||
Sundry
debtors
|
Chilean
peso
|
4,973
|
5,737
|
|||
Sundry
debtors
|
Dollar
|
4,595
|
8,470
|
|||
Sundry
debtors
|
Bolivars
|
6,508
|
2,891
|
|||
Sundry
debtors
|
Euro
|
3
|
1,197
|
|||
Sundry
debtors
|
Argentinean
Peso
|
1,384
|
1,056
|
|||
Sundry
debtors
|
Brazilian
Real
|
3,438
|
3,231
|
|||
Sundry
debtors
|
Mexican
Peso
|
1,473
|
2,285
|
|||
Sundry
debtors
|
Other
currencies
|
2,237
|
2,624
|
Notes
receivable from related companies
|
Dollar
|
7,619
|
7,694
|
|||
Inventories
|
Dollar
|
193,517
|
188,145
|
|||
Recoverable
taxes
|
Chilean
peso
|
24,574
|
20,595
|
|||
Recoverable
taxes
|
Dollar
|
3,436
|
3,087
|
|||
Recoverable
taxes
|
Argentinean
Peso
|
3,833
|
12,934
|
|||
Recoverable
taxes
|
Brazilian
Real
|
8,082
|
5,553
|
|||
Recoverable
taxes
|
Mexican
Peso
|
1,627
|
920
|
|||
Recoverable
taxes
|
Bolivars
|
10,622
|
2,739
|
|||
Recoverable
taxes
|
Other
currencies
|
2,891
|
1,609
|
|||
Prepaid
expenses
|
Chilean
peso
|
4,166
|
806
|
|||
Prepaid
expenses
|
Dollar
|
2,173
|
1,768
|
|||
Prepaid
expenses
|
Argentinean
Peso
|
15
|
340
|
|||
Prepaid
expenses
|
Bolivars
|
1,879
|
1,813
|
|||
Prepaid
expenses
|
Brazilian
Real
|
566
|
734
|
|||
Prepaid
expenses
|
Mexican
Peso
|
246
|
240
|
|||
Prepaid
expenses
|
U.F.
|
8
|
0
|
|||
Prepaid
expenses
|
Other
currencies
|
137
|
2,093
|
|||
Deferred
taxes
|
Dollar
|
2,191
|
831
|
|||
Deferred
taxes
|
Argentinean
Peso
|
2,054
|
627
|
|||
Deferred
taxes
|
Mexican
Peso
|
1,074
|
2,085
|
|||
Deferred
taxes
|
Other
currencies
|
5
|
8
|
|||
Others
currents assets
|
Other
currencies
|
0
|
13
|
|||
Others
currents assets
|
U.F.
|
926
|
0
|
|||
Others
currents assets
|
Dollar
|
923
|
2,373
|
|||
Others
currents assets
|
Argentinean
Peso
|
0
|
15
|
|||
Others
currents assets
|
Mexican
Peso
|
267
|
161
|
|||
Fixed
Assets
|
||||||
Fixed
Assets
|
Dollar
|
1,587,886
|
1,475,494
|
|||
Investments
in related companies
|
Dollar
|
4,319
|
4,633
|
|||
Investments
in other companies
|
Chilean
peso
|
35
|
48
|
|||
Investments
in other companies
|
Dollar
|
182
|
157
|
|||
Goodwill
|
Dollar
|
2,345
|
1,186
|
|||
Negative
goodwill
|
Dollar
|
-55,295
|
-59,412
|
|||
Long
term receivables
|
Dollar
|
1,859
|
2,182
|
|||
Long
term receivables
|
Chilean
peso
|
0
|
258
|
|||
Long
term receivables
|
Argentinean
Peso
|
159
|
32
|
|||
Long
term receivables
|
Brazilian
Real
|
3,367
|
2,089
|
|||
Long
term receivables
|
Other
currencies
|
0
|
100
|
|||
Notes
receivable from related companies
|
Dollar
|
0
|
1,556
|
Intangible
|
Dollar
|
11,498
|
10,637
|
|||
Amortization
(less)
|
Dollar
|
-680
|
-28
|
|||
Others
|
Chilean
peso
|
380
|
378
|
|||
Others
|
Bolivars
|
265
|
0
|
|||
Others
|
U.F.
|
9,756
|
0
|
|||
Others
|
Argentinean
Peso
|
56
|
46
|
|||
Others
|
Dollar
|
17,315
|
15,116
|
|||
Others
|
Brazilian
Real
|
1,360
|
857
|
|||
Others
|
Other
currencies
|
0
|
662
|
|||
Others
|
Mexican
Peso
|
771
|
106
|
|||
Total
Assets
|
||||||
Chilean
peso
|
65,030
|
59,946
|
||||
Dollar
|
1,858,643
|
1,778,163
|
||||
Argentinean
Peso
|
16,978
|
21,169
|
||||
Brazilian
Real
|
59,992
|
20,127
|
||||
Mexican
Peso
|
33,154
|
40,366
|
||||
Bolivars
|
38,616
|
21,123
|
||||
Other
currencies
|
10,042
|
12,505
|
||||
Euro
|
1,345
|
1,587
|
||||
U.F.
|
10,690
|
0
|
b)
|
Short
Term Liabilities
|
Until
90 days
|
90
days to 1 year
|
|||||||||||||||||
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
|||||||||||||||
Account
|
Currency
|
|
Amount
|
|
Annual
Rate
|
|
Amount
|
|
Annual
Rate
|
|
Amount
|
|
Annual
Rate
|
|
Amount
|
|
Annual
Rate
|
|
Obligations
to banks and financial institutions short/term
|
dollar
|
0
|
7
|
23,573
|
5.43%
|
2,009
|
5.65%
|
|||||||||||
Obligations
to banks and financial institutions short/term
|
bolivars
|
0
|
0
|
94,118
|
12.42%
|
63,888
|
2.1%
|
|||||||||||
Obligations
to banks and financial institutions portion
|
dollar
|
6,175
|
6.5%
|
9,543
|
3.46%
|
36,183
|
6.5%
|
20,200
|
3.46%
|
|||||||||
Obligations
to banks and financial institutions portion
|
bolivars
|
0
|
0
|
0
|
27,998
|
6%
|
||||||||||||
Obligations
with the public short/term portion (Bonds)
|
U.F.
|
7,322
|
4.75%
|
0
|
10,818
|
4.31%
|
24,379
|
5.8%
|
||||||||||
Obligations
with the public short/term portion (Bonds)
|
dollar
|
274
|
8.06%
|
0
|
39,434
|
5.7%
|
9,980
|
7.9%
|
||||||||||
Long
term liabilities maturing within one year
|
dollar
|
0
|
4
|
0
|
0
|
|||||||||||||
Dividends
payable
|
Chilean
peso
|
451
|
0
|
0
|
0
|
|||||||||||||
Dividends
payable
|
dollar
|
0
|
504
|
0
|
0
|
|||||||||||||
Accounts
payable
|
U.F.
|
214
|
63
|
0
|
0
|
|||||||||||||
Accounts
payable
|
Chilean
peso
|
9,237
|
18,249
|
0
|
0
|
|||||||||||||
Accounts
payable
|
dollar
|
37,608
|
20,577
|
0
|
0
|
|||||||||||||
Accounts
payable
|
Argentinean
peso
|
2,132
|
1,523
|
0
|
0
|
|||||||||||||
Accounts
payable
|
Brazilean
real
|
10,360
|
6,429
|
0
|
0
|
|||||||||||||
Accounts
payable
|
bolivars
|
2,693
|
2,641
|
0
|
0
|
|||||||||||||
Accounts
payable
|
Mexican
peso
|
1,908
|
2,333
|
0
|
0
|
|||||||||||||
Accounts
payable
|
EURO
|
1,282
|
1,359
|
0
|
0
|
|||||||||||||
Accounts
payable
|
Other
currencies
|
5,366
|
4,586
|
0
|
0
|
|||||||||||||
Notes
payable
|
Argentinean
peso
|
997
|
719
|
0
|
0
|
|||||||||||||
Sundry
creditors
|
Chilean
peso
|
43
|
41
|
0
|
0
|
|||||||||||||
Sundry
creditors
|
dollar
|
188
|
1,539
|
0
|
0
|
|||||||||||||
Sundry
creditors
|
Mexican
peso
|
2
|
0
|
0
|
0
|
|||||||||||||
Sundry
creditors
|
Brazilean
real
|
0
|
5
|
0
|
0
|
|||||||||||||
Sundry
creditors
|
bolivars
|
320
|
320
|
0
|
0
|
|||||||||||||
Sundry
creditors
|
EURO
|
780
|
275
|
0
|
0
|
|||||||||||||
Sundry
creditors
|
Other
currencies
|
40
|
12
|
0
|
0
|
Until
90 days
|
90
days to 1 year
|
|||||||||||||||||
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
|||||||||||||||
Account
|
Currency
|
Amount
|
Annual
Rate
|
Amount
|
Annual
Rate
|
Amount
|
Annual
Rate
|
Amount
|
Annual
Rate
|
|||||||||
Notes
and accounts payable to related companies
|
dollar
|
1,877
|
4,948
|
0
|
0
|
|||||||||||||
Notes
and accounts payable to related companies
|
bolivars
|
8,841
|
0
|
0
|
0
|
|||||||||||||
Provisions
|
Chilean
peso
|
4,594
|
4,901
|
0
|
16
|
|||||||||||||
Provisions
|
dollar
|
12,848
|
5,500
|
1,283
|
1,068
|
|||||||||||||
Provisions
|
Argentinean
peso
|
9,673
|
5,751
|
0
|
0
|
|||||||||||||
Provisions
|
bolivars
|
4,124
|
2,723
|
0
|
0
|
|||||||||||||
Provisions
|
Brazilean
real
|
6,454
|
4,959
|
0
|
0
|
|||||||||||||
Provisions
|
Mexican
peso
|
1,085
|
1,133
|
0
|
0
|
|||||||||||||
Provisions
|
Other
currencies
|
232
|
113
|
0
|
0
|
|||||||||||||
Withholdings
|
Chilean
peso
|
1,150
|
891
|
0
|
0
|
|||||||||||||
Withholdings
|
dollar
|
662
|
867
|
52
|
68
|
|||||||||||||
Withholdings
|
bolivars
|
3,413
|
2,587
|
0
|
0
|
|||||||||||||
Withholdings
|
Argentinean
peso
|
1,186
|
805
|
0
|
0
|
|||||||||||||
Withholdings
|
Brazilean
real
|
6,912
|
8,611
|
0
|
0
|
|||||||||||||
Withholdings
|
Mexican
peso
|
2,076
|
3,746
|
0
|
0
|
|||||||||||||
Withholdings
|
Other
currencies
|
177
|
591
|
0
|
0
|
|||||||||||||
Income
tax
|
dollar
|
478
|
1,382
|
0
|
0
|
|||||||||||||
Income
tax
|
Argentinean
peso
|
0
|
0
|
6,727
|
3,675
|
|||||||||||||
Income
tax
|
bolivars
|
2,823
|
106
|
0
|
0
|
|||||||||||||
Income
tax
|
Brazilean
real
|
946
|
710
|
0
|
0
|
|||||||||||||
Income
tax
|
Mexican
peso
|
0
|
970
|
98
|
120
|
|||||||||||||
Income
tax
|
Other
currencies
|
799
|
838
|
0
|
0
|
|||||||||||||
Income
received in advance
|
Chilean
peso
|
226
|
837
|
0
|
0
|
|||||||||||||
Income
received in advance
|
bolivars
|
4
|
27
|
0
|
0
|
|||||||||||||
Income
received in advance
|
Brazilean
real
|
0
|
2
|
0
|
0
|
|||||||||||||
Other
current liabilities
|
dollar
|
0
|
314
|
0
|
0
|
|||||||||||||
Other
current liabilities
|
Mexican
peso
|
245
|
0
|
0
|
0
|
|||||||||||||
Other
current liabilities
|
Other
currencies
|
15
|
0
|
0
|
0
|
Until
90 days
|
90
days to 1 year
|
|||||||||||||||||
30-09-2007
|
30-09-2006
|
30-09-2007
|
30-09-2006
|
|||||||||||||||
Account
|
Currency
|
Amount
|
Annual
Rate
|
Amount
|
Annual
Rate
|
Amount
|
Annual
Rate
|
Amount
|
Annual
Rate
|
|||||||||
TOTAL
CURRENT LIABILITIES
|
|
|||||||||||||||||
|
|
|||||||||||||||||
|
dollar
|
60,110
|
45,185
|
100,525
|
33,325
|
|||||||||||||
|
bolivars
|
22,218
|
8,404
|
94,118
|
91,886
|
|||||||||||||
|
U.F.
|
7,536
|
63
|
10,818
|
24,379
|
|||||||||||||
Chilean
peso
|
15,701
|
24,919
|
0
|
16
|
||||||||||||||
|
Argentinean
peso
|
13,988
|
8,798
|
6,727
|
3,675
|
|||||||||||||
|
Brazilean
real
|
24,672
|
20,716
|
0
|
0
|
|||||||||||||
|
Mexican
peso
|
5,316
|
8,182
|
98
|
120
|
|||||||||||||
|
EURO
|
2,062
|
1,634
|
0
|
0
|
|||||||||||||
|
Other
currencies
|
6,629
|
6,140
|
0
|
0
|
|
1
to 3 year
|
|
3
to 5 year
|
|
5
to 10 year
|
|
More
of 10 year
|
|||||||||||
Account
|
|
Currency
|
|
Amount
|
|
Rate
|
|
Amount
|
|
Rate
|
|
Amount
|
|
Rate
|
|
Amount
|
|
Rate
|
Obligations
to banks and financial institutions long term
|
Dollar
|
84,673
|
6.86
|
% |
61,750
|
6.86
|
% |
0
|
0
|
0
|
0
|
|||||||
Obligations
with the public (Bonds) long term
|
U.F.
|
60,631
|
4.38
|
% |
75,133
|
4.6
|
% |
40,471
|
4.75%
|
107,534
|
4.3%
|
|||||||
Sundry
creditors long term
|
Dollar
|
67
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||
Provisions
|
Dollar
|
0
|
0
|
0
|
0
|
539
|
0
|
0
|
0
|
|||||||||
Provisions
|
Bolivar
|
1,118
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||
Deferred
taxes
|
Dollar
|
47,930
|
0
|
0
|
0
|
18,647
|
0
|
0
|
0
|
|||||||||
Deferred
taxes
|
Argentinean
peso
|
2,097
|
0
|
741
|
0
|
1,852
|
0
|
1,851
|
0
|
|||||||||
Deferred
taxes
|
Mexican
peso
|
92
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||
Deferred
taxes
|
Bolivar
|
1,542
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||
Deferred
taxes
|
Brazilian
Real
|
1,698
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||
Other
long-term liabilities
|
Dollar
|
2,139
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|||||||||
Other
long-term liabilities
|
Brazilian
Real
|
0
|
0
|
15,404
|
0
|
0
|
0
|
0
|
0
|
|||||||||
Total
long-term liabilities
|
||||||||||||||||||
|
Dollar
|
134,809
|
61,750
|
19,186
|
0
|
|||||||||||||
|
U.F.
|
60,631
|
75,133
|
40,471
|
107,534
|
|||||||||||||
|
Bolivars
|
2,660
|
0
|
0
|
0
|
|||||||||||||
|
Argentinean
peso
|
2,097
|
741
|
1,852
|
1,851
|
|||||||||||||
|
Mexican
peso
|
92
|
0
|
0
|
0
|
|||||||||||||
Brazilian
Real
|
1,698
|
15,404
|
0
|
0
|
|
|
|
|
1
to 3 year
|
|
3
to 5 year
|
|
5
to 10 year
|
|
More
of 10 year
|
||||||||
Account
|
|
Currency
|
|
Amount
|
|
Rate
|
|
Amount
|
|
Rate
|
|
Amount
|
|
Rate
|
|
Amount
|
|
Rate
|
Obligations
to banks and financial institutions long term
|
dollar
|
62,481
|
5.2%
|
83,729
|
5.2%
|
34,841
|
5.2%
|
0
|
||||||||||
Obligations
to the public - long term (Bonds)
|
U.F.
|
45,680
|
4.8%
|
53,965
|
4.8%
|
72,399
|
4.8%
|
72,220
|
4.8%
|
|||||||||
Obligations
to the public - long term (Bonds)
|
dollar
|
39,000
|
5.7%
|
0
|
0
|
0
|
||||||||||||
Sundry
creditors
|
dollar
|
130
|
0
|
0
|
0
|
|||||||||||||
Provisions
|
bolivars
|
1,000
|
0
|
0
|
0
|
|||||||||||||
Provisions
|
Brazilean
real
|
426
|
0
|
0
|
0
|
|||||||||||||
Deferred
taxes
|
dollar
|
27,234
|
0
|
4,322
|
8,020
|
|||||||||||||
Deferred
taxes
|
Argentinean
peso
|
1,165
|
777
|
1,942
|
1,942
|
|||||||||||||
Deferred
taxes
|
bolivars
|
1,426
|
0
|
0
|
0
|
|||||||||||||
Other
long-term liabilities
|
dollar
|
4,727
|
0
|
0
|
0
|
|||||||||||||
Other
long-term liabilities
|
||||||||||||||||||
Total
long-term liabilities
|
||||||||||||||||||
|
dollar
|
133,572
|
83,729
|
39,163
|
8,020
|
|||||||||||||
|
U.F.
|
45,680
|
53,965
|
72,399
|
72,220
|
|||||||||||||
|
bolivars
|
2,426
|
0
|
0
|
0
|
|||||||||||||
|
Brazilean
real
|
426
|
0
|
12,924
|
0
|
|||||||||||||
|
Argentinean
peso
|
1,165
|
777
|
1,942
|
1,942
|
|
Invested
|
||||||
|
Budget
|
&
expenses
|
|||||
Business
Unit
|
2007
|
2007
|
|||||
ThUS$
|
ThUS$
|
||||||
Word
Boards & Solid Wood
|
7,607
|
2,476
|
|||||
Forestry
|
938
|
477
|
|||||
Total
|
8,535
|
2,954
|
A.
|
Comparative
analysis of the main observed
trends:
|
2007
|
2006
|
2006
|
||||||||
Jan-Sept
|
Jan-Sept
|
Jan-Dec
|
||||||||
Liquidity
Indexes
|
||||||||||
Current
Liquid Assets
|
1.37
|
1.80
|
1.78
|
|||||||
Acid
Ratio
|
0.04
|
0.04
|
0.06
|
2007
|
2006
|
2006
|
||||||||
Jan-Sept
|
Jan-Sept
|
Jan-Dec
|
||||||||
Indebtedness
Indexes
|
||||||||||
Indebtedness
Ratio (times)
|
0.72
|
0.69
|
0.65
|
|||||||
Short
Term Debt/Total Debt
|
33.62
|
%
|
25.39
|
%
|
25.36
|
%
|
||||
Long
Term Debt/Total Debt
|
66.38
|
%
|
74.61
|
%
|
74.64
|
%
|
||||
Financial
Expenses Coverage (times)
|
2.22
|
2.14
|
2.06
|
2007
|
2006
|
2006
|
||||||||
Jan-Sept
|
Jan-Sept
|
Jan-Dec
|
||||||||
Activity
Indexes
|
||||||||||
1,
Total Assets
|
2,094,293
|
1,954,794
|
2,016,334
|
|||||||
Investments
in the period
|
||||||||||
-
In Fixed asset
|
99,176
|
84,086
|
121,843
|
|||||||
Transfers:
|
||||||||||
-
Divestitures
|
1,441
|
38
|
1,565
|
|||||||
2,
Inventory Turnover
|
2.81
|
2.49
|
3.33
|
|||||||
3.
Inventory Permanence
|
96.07
|
108.60
|
108.23
|
|||||||
4.
Accounts Payable Turnover
|
5.77
|
6.17
|
12.97
|
|||||||
5.
Accounts Payable Permanence
|
31.19
|
29.16
|
27.76
|
|||||||
6.
Accounts Receivable Turnover
|
2.83
|
2.83
|
6.16
|
|||||||
7.
Accounts Receivable Permanence
|
63.55
|
63.68
|
58.40
|
2007
|
2006
|
2006
|
||||||||
Jan-Sept
|
Jan-Sept
|
Jan-Dec
|
||||||||
Income
Indexes
|
||||||||||
Operating
Income
|
706,109
|
663,850
|
886,507
|
|||||||
-
Domestic market
|
501,622
|
594,874
|
816,439
|
|||||||
-
Foreign market
|
204,487
|
68,976
|
70,068
|
|||||||
Operating
Costs
|
(532,718
|
)
|
(510,207
|
)
|
(678,956
|
)
|
||||
-
Domestic market
|
(378,444
|
)
|
(487,912
|
)
|
(625,292
|
)
|
||||
-
Foreign market
|
(154,274
|
)
|
(22,295
|
)
|
(53,664
|
)
|
||||
Operating
Income
|
76,564
|
65,446
|
83,579
|
|||||||
Financial
Expenses
|
(29,237
|
)
|
(26,037
|
)
|
(35,371
|
)
|
||||
Non-Operating
Income
|
(40,757
|
)
|
(35,890
|
)
|
(45,997
|
)
|
||||
R.A.I.I.D.A.I.E.
|
103,442
|
93,658
|
124,040
|
|||||||
Net
Income (loss) after tax
|
23,059
|
15,685
|
24,933
|
2007
|
2006
|
2006
|
||||||||
Jan-Sept
|
Jan-Sept
|
Jan-Dec
|
||||||||
Argentina
|
630
|
900
|
1,288
|
|||||||
Brazil
|
3,737
|
4,419
|
5,562
|
|||||||
Chile
|
7,068
|
6,878
|
9,011
|
|||||||
Venezuela
|
2,448
|
2,747
|
3,307
|
|||||||
Total
|
13,883
|
14,944
|
19,168
|
2007
|
2006
|
2006
|
||||||||
Jan-Sept
|
Jan-Sept
|
Jan-Dec
|
||||||||
Profitability
Indexes
|
||||||||||
1,
Return on shareholders’ equity
|
2.23
|
%
|
1.72
|
%
|
2.58
|
%
|
||||
2.
Return on assets
|
1.29
|
%
|
0.97
|
%
|
1.48
|
%
|
||||
3.
Return on operating assets
|
3.66
|
%
|
3.32
|
%
|
4.13
|
%
|
||||
4.
Earnings per share (US dollars)
|
0.00467
|
0.0034
|
0.0052
|
|||||||
5.
Return on dividends
|
0.90
|
%
|
1.18
|
%
|
1.01
|
%
|
2007
|
2006
|
2006
|
||||||||
Jan-Sept
|
Jan-Sept
|
Jan-Dec
|
||||||||
Positive
net cash flow from operating activities
|
71,629
|
100,666
|
132,035
|
|||||||
-
Sales Debtor collection
|
989,075
|
824,231
|
1,230,899
|
|||||||
-
Payment to suppliers and employees
|
(876,602
|
)
|
(694,340
|
)
|
(1,053,794
|
)
|
||||
-
Others
|
(40,844
|
)
|
(29,225
|
)
|
(45,070
|
)
|
||||
Net
cash flow from
|
||||||||||
Financing
Activities
|
10,337
|
(22,099
|
)
|
(32,963
|
)
|
|||||
-
Share placement payment
|
-
|
44,012
|
44,012
|
|||||||
-
Loan granting
|
160,383
|
219,368
|
242,536
|
|||||||
-
Obligations to the public
|
87,842
|
162,965
|
162,965
|
|||||||
-
Dividend payment
|
(12,433
|
)
|
(11,491
|
)
|
(11,491
|
)
|
||||
-
Loan payment
|
(151,739
|
)
|
(266,445
|
)
|
(291,108
|
)
|
||||
-
Obligations to the public payment
|
(81,502
|
)
|
(169,605
|
)
|
(178,338
|
)
|
||||
-
Others
|
7,786
|
(903
|
)
|
(1,539
|
)
|
|||||
Net
cash flow from
|
||||||||||
Investment
Activities
|
(71,875
|
)
|
(114,246
|
)
|
(149,868
|
)
|
||||
-
Fixed assets sales
|
1,441
|
38
|
1,565
|
|||||||
-
Incorporation of fixed assets
|
(99,176
|
)
|
(84,086
|
)
|
(121,843
|
)
|
||||
-
Others
|
25,860
|
(30,198
|
)
|
(29,590
|
)
|
|||||
Total
net cash flow for the period
|
(10,091
|
)
|
(35,679
|
)
|
(50,796
|
)
|
||||
Inflation
effect
|
(32
|
)
|
17
|
(12
|
)
|
|||||
Initial
cash balance and cash equivalent
|
47,049
|
97,857
|
97,857
|
|||||||
Final
cash balance and cash equivalent
|
57,108
|
62,195
|
47,049
|
2007
|
2006
|
2006
|
||||||||
Jan-Sept
|
Jan-Sept
|
Jan-Dec
|
||||||||
United
States
|
19.8
|
%
|
27.0
|
%
|
26.0
|
%
|
||||
Chile
|
16.1
|
%
|
16.5
|
%
|
16.3
|
%
|
||||
Mexico
|
11.6
|
%
|
13.7
|
%
|
13.2
|
%
|
||||
Brazil
|
20.7
|
%
|
16.1
|
%
|
16.4
|
%
|
||||
Venezuela
|
15.1
|
%
|
9.5
|
%
|
10.4
|
%
|
||||
Argentina
|
9.7
|
%
|
7.5
|
%
|
7.9
|
%
|
||||
Others
|
13.4
|
%
|
9.7
|
%
|
9.8
|
%
|
||||
Total
|
100.0
|
%
|
100.0
|
%
|
100.0
|
%
|
2007
|
2006
|
2006
|
||||||||
Jan-Sept
|
Jan-Sept
|
Jan-Dec
|
||||||||
Assets
|
235,847
|
191,810
|
190,197
|
|||||||
520,047
|
465,112
|
419,306
|
||||||||
Asset
Position (liability)
|
(284,200
|
)
|
(273,302
|
)
|
(229,109
|
)
|
2007
|
|
2006
|
|
||||
ThUS$
|
ThUS$
|
||||||
Tax
Payable
|
8,860
|
14,632
|
|||||
Social
Laws
|
2,349
|
1,298
|
|||||
Remuneration
payable
|
4,408
|
2,186
|
|||||
Others
|
11
|
50
|
|||||
TOTAL
|
15,628
|
18,166
|
MASISA S.A. | ||
|
|
|
Date: November 9, 2007 | Conf: | /s/ Patricio Reyes U,, |
Name: Patricio Reyes U, |
||
General
Counsel
|
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