BRAZIL – Dexco reported a first-quarter 2025 (1Q-2025) net profit of BRL 83.8 million, a substantial 210.8% increase compared to BRL 27 million in the same period last year, despite declines in sales and operational margins.

Total sales reached BRL 1.902 billion, a 1.7% decrease year-over-year. The Wood Division, Dexco’s largest segment, saw a 3.4% decline in revenue, totaling BRL 1.286 billion. The external market grew 9.9% versus 1Q-2024, reflecting the strong performance of exports in the wooden panels segment.

EBITDA fell sharply by 21.8%, reaching BRL 345.6 million, with the EBITDA margin narrowing from 22.8% to 18.2%. The drop arose mainly from 1Q-2024 being an unusually strong point of comparison, given the significant forestry trading carried out by the Wood Division in that period.

In terms of volume, the company shipped 719,526 cubic meters of panels—a 5.2% decline. Standard panel shipments rose 7.1%, while laminated panel shipments dropped by 17.7%, dragging down the overall total. This decline was anticipated, being directly related to scheduled maintenance shutdowns, a key component of the operating strategy that preserves the efficiency of the factory throughout the year.