BRAZIL – Eucatex, one of the largest wood-based panel manufacturers in Brazil announced its results for the first quarter of 2024 (1Q-2023).

Sales revenue in 1Q-2024 reached BRL 641.0 million, compared to BRL 678.6 million in 1Q-2023, down 5.5%. In the Industry and Resale Segment, which includes MDP/MDF/THDF and Fiberboard panels, sales fell 12.1% in 1Q-2024. Wood panel exports fell 15.9% in 1Q-2024 compared to 1Q-2023.

EBITDA in 1Q-2024 reached BRL 137.4 million, down 7.7% compared to 1Q-2023, with a recurring EBITDA margin of 21.4%, a slight 0.5 p.p. deterioration compared to 1Q-2023.  Recurring net income (profit) in 1Q-2024 was BRL 59.6 million, a drop of 30.9% compared to the same period of 2023 (1Q-2023: BRL 86.2 million).

Investments in 1Q-2024 amounted to BRL 74.5 million and were allocated to the maintenance of the company’s industrial and, mainly, forestry activities.

Eucatex’s forest sustainability is assured by 45,400 hectares of forests, all located in the state of São Paulo. The Company is recognized for its sustainable development practices and was the first in the industry to obtain the ISO 9001 certification, in 2000. It also holds the ISO 14001 certification and the Green Seal awarded by the Forest Stewardship Council (FSC), which certifies that its forests are managed in accordance with rigorous environmental, social and economic standards.