BRAZIL - Eucatex, one of the main wooden panel manufacturers in brasil, reported that Sales revenue in 2Q-2023 reached BRL 651.3 million, compared to BRL 600.9 million in 2Q-2022, up 8.4%.

In the first half 2023 (6M-2023), sales revenue increased 10.9% year on year to BRL 1,329.8 million.

In the Furniture Industry and Resale Segment, composed of MDP/MDF/THDF panels and Fiberboard, revenue grew 11.5% in the 2Q-2023. In 2Q-2023, the Export Segment registered a 3.3% reduction in net revenue year on year. Sales in its flagship export market - the United States- fell 4%, reflecting the slowdown in sales there.  According to IBÁ, Brazil’s MDP and MDF panel exports decreased 48.5% in 2Q-2023 in relation to 2Q-2022.

As a result of the above, Recurring EBITDA totaled BRL 129.2 million, up 8.9% from 2Q-2022. Recurring. EBITDA Margin in 2Q-2023 was 19.8%, increasing 0.1 p.p. from 2Q-2022.

In 6M-2023, Recurring EBITDA totaled BRL 277.9 million, up 14.9% year on year, while recurring EBITDA Margin stood at 20.9%, up 0.7 p.p. from 6M-2022.

Investments in 2Q-2023 and 6M-2023 totaled BRL 56.1 million and BRL 121.6 million, respectively, and were allocated to maintaining the Company’s industrial and, chiefly, forest operations. For 2023, investments of around BRL 251.0 million are planned, an increase of 4.0% from 2022, due to the significant increase in the plantation of new forests and the increase in prices of parts and services.