BRAZIL – Eucatex, one of the largest manufacturers of wooden panels in Brazil, with operations also in the paint and varnish and laminated flooring segments among others, reached sales of BRR 290.3 million in the second quarter of 2017, an increase of 3.5% compared to the same period 2016.

Recurring EBITDA in the period amounted to BRR 52.5 million (+2.5%), with a margin of 18.1%.

The increase in the Company’s net revenue was supported by the Wood Division sales to both domestic and export markets, which grew 11.9% compared to the second quarter of 2016, well above the market, which fell 2.1% according to the Brazilian Tree Association (IBA). Jose Antonio Goulart, Executive Vice-President and Investor Relations Officer, stated that despite Brazil’s economic and political instability, Eucatex was able to improve sales in the segment, driven by its internal efforts to overcome this challenging scenario by focusing on leveraging sales. “The Company continues to adjust its structure, and the results will be seen in the coming quarters,” said Goulart.

Net income in the second quarter of 2017 was impacted by echange variation reaching BRR 3.2 million, down 83.7%, compared to same period 2016.

Results April-June