ECUADOR – According to the annual ranking of the Top 1000 Ecuadorian Companies published by Ekos Magazine, sales of the main companies in the wood and furniture segment grew 4.4% in 2017, reaching USD 320.6 million compared to USD 307.1 million in 2016.

This growth was above the 3% expansion registered by the Ecuadorian economy in 2017.

The six companies in the wood and furniture segment that ranked in the Top 1000 – Novopan, Empresas Durini, Aglomerados Cotopaxi, Colineal, Botrosa and Muebles El Bosque – managed to grow their sales in 2017. The highest sales growth was recorded by: Colineal (+ 8.4%), furniture manufacture and retailer; Empresas Durini (+ 6.7%), specialized in the retail of panels and supplies for the furniture and carpentry industry through its Edimca stores, and Novopan (+ 4.2%), the largest panel manufacturer in Ecuador.

The latter was once again the leader among companies in the wood and furniture segment in 2017, with sales of USD 118.2 million (2016: USD 113.4 million). Followed by Empresas Durini, Aglomerados Cotopaxi (board manufacturer) and Colineal with sales of USD 61.5 million, 45.8 million and 44.3 million respectively.

In terms of net result, Novopan with a 12.2% improvement in its profits, reaching USD 29.6 million in 2017 (2016: USD 26.4 million) was by far the most profitable. Followed by Aglomerados Cotopaxi with USD 2.8 million and Colineal with profits of USD 1.6 million.