BRAZIL – Duratex, Brazil’s leading panel manufacturer, recorded consolidated net revenue of BRL 1.16 billion in the second quarter of 2018, up 27.4% against than the same period of 2017. Adjusted and Recurrent EBITDA totaled BRL 220 million.

During the period, the company's revenues from foreign markets grew by 49%, compared to the same period of the previous year. The factors responsible for this growth were the increase in exported value (+ 51.5%), particularly of wood panels, the growth in sales of Duratex Colombia (+ 46.5%) and the effects of exchange rate variation.

Revenue growth in the domestic market (+22.8%) mainly reflected the increase in the volume sold in the Wood and Deca Divisions, the sale of biological assets, the incorporation of the results of the Ceramic Coatings Division and price increases in the period.

“We remain focused on working to position Duratex at a strategic level of competitiveness, through financial deleveraging, focus on management and implementation and dissemination of the company's new organizational culture,” said Henrique Haddad, Director of Administration, Finance and Investor Relations.

According to him, the slower than expected recovery of the local economy should be offset by productivity gains and more efficient management of costs and expenses, as well as working capital and investments focused on Duratex's internal agenda, which will reflect in better profitability of the company's assets.

The quarter was also marked by important moves such as the announcement of Duratex's entry into a new activity segment, the soluble cellulose business, in partnership with the Austrian group Lenzing AG, the world leader in the production of special pulp fibers. The new company, which will be born from a Joint Venture, aims to build the world's largest soluble pulp industry line, to be located in the Triângulo Mineiro.