BRAZIL – Eucatex, one of the largest manufacturers of wooden panels in Brazil, with operations also in the paint and varnish, laminated flooring, partitions and doors segments, reported its results for the third quarter of 2017 (3Q17).

Sales revenue totaled BRR 313.7 million, compared to BRR 304.3 million in 3Q16, for a growth of 3.1%. In the nine-month period, net revenue amounted to BRR 887.1 million, up 3.2% from 9M16.

In the Wood Segment, sales revenue grew 6.9%, mainly due to the performance of the domestic market, but still adversely impacted by the exchange variation of around -3% on average in 3Q17 compared to 3Q16, and by about -9% on average in 9M17 compared to 9M16.

Sales volume in the Wood segment, considering both domestic and export markets, increased by 12.0% in 3Q17 compared to the same period last year, supported by the 12.9% growth in domestic sales. The Company’s export volume in the Wood Segment grew 5.8% in the quarter.

As a result of the above figures, recurring EBITDA totaled BRR 55.5 million, up 16.5% from 3Q16. Recurring EBITDA margin reached 17.7%, compared to 15.7% in the same period last year. In 9M17, Recurring EBITDA was BRR 153.2 million, growing 10.1% from 9M16, with Recurring EBITDA margin of 17.3 up 1.1 percentage points.

According to the Brazilian Tree Industry (IBÁ), the Total Panels Market expanded by 11.3% in 3Q17, marked by growth in sales of MDF (12.6%) and MDP (13.1%) and a decline in Fiberboard sales (-21.6%). 

January - September (9M)

July - September