BRAZIL – Eucatex , one of the largest manufacturers of panels in Brazil, with operations also in the paint and varnish segment, announced its results for the fourth quarter of 2014 (4Q14).

In the Company’s Wood segment, domestic sales in 2014 were 1.2% lower than in 2013. In 4Q14, the decrease from 4Q13 was 6.0%. According to data from the Brazilian Tree Industry (IBA), the total panels market decreased 6.0% in 4Q14 in relation to 4Q13, while the full year decrease was 2.2%.

The Wood segment’s sales performance reflects the lower production levels, especially in fiberboard. Over the course of 2014, prices were reduced due to discounts granted and a weaker sales mix, especially in the first six months of the year.

Still, in the Wood segment the Company has a solid base to ramp up its exports and is making adjustments so that it can direct a part of its production to export markets.

EBITDA totaled R$60.5 million, up 6.6% from 4Q13. Recurring EBITDA margin reached 20.2%, higher than 19.4% in the same period the previous year. In 2014, recurring EBITDA totaled R$205.8 million, down 10.4% from 2013, and recurring EBITDA margin was 18.5%, down 2.1 p.p.

Eucatex Results October-December

Million BRR

Eucatex Results

Million BRR