BRAZIL – Eucatex , one of the largest manufacturers of wooden panels in Brazil, with operations also in the paint, varnish, laminated flooring, and doors segments, announced its results for the 4th quarter of 2021 (4Q-2021) and 2021.

Total net sales revenue in 4Q-2021 came to BRL 709.6 million, compared to BRL 527.9 million in 4Q-2020, up 34.4%. In 2020, total net sales revenue was BRL 2,449.4 million, as against BRL 1,797.6 million in 2020, growing 36.3%.

In the Wood Segment, revenue grew 27.7% from 4Q-2020, mainly reflecting the increase in sales prices in both the domestic and export markets. Net sales Revenue in 2021 was 41.8% higher than in previous year, reflecting the variation in sales prices and the increase in volume since, in 2Q-2020, the Company had scaled down production at its plants.

As a result of the above, recurring EBITDA amounted to BRL 147.0 million in 4Q-2021, growing 32.9% compared to 4Q-2020.

Recurring EBITDA Margin in 4Q-2021 reached 20.7%, decreasing 0.2 p.p. from the same period last year. In 2021, Recurring EBITDA reached BRL 558.9 million, increasing 55.5% from the previous year, with Recurring EBITDA Margin of 2.8 p.p.

Recurring Net Income in 4Q-2021, excluding the effect of non-recurring expenses and net of income tax, totaled BRL 156.0 million.

Investments in 4Q-2021 totaled BRL 67.9 million and were allocated to maintaining the Company’s industrial and forest operations. For 2022, investments of around BRL 248.0 million are planned, an increase of 19.5% from 2021, due to the significant increase in the plantation of new forests and the increase in prices of imported parts and services.