BRAZIL – Duratex announced financial results for the second quarter of 2016 (2T16). The company generated BRR 1.01 billion in net revenue in the period, representing growth of 4.9% over the second quarter of 2015 (2Q-15).

EBITDA was BRR 171.7 million, 18.3% lower than 2Q-15. The EBITDA margin closed at 17%, 4.8 percentage points lower than 2Q-15 (21.8%). The results of the external market, which include the operation of the Colombian affiliate Tablemac and exports, presented good performance, with an increase of 16% in 2Q-16 compared to the first quarter of 2016 and 60% compared to 2Q-15. Revenues from abroad already account for 20.5% of the total revenue of Duratex, 12% from Tablemac and 8.5% from exports from Brazil’s operations.

“The improvement in the Brazilian economic environment reflected positively in the quarter results. Other determining factors were the growth in sales volume, adjustments in product mix and actions aimed at cost management,” said Antonio Joaquim de Oliveira, President of Duratex.

In the Wood Division, the increase in sales volume in 2Q-16 was 2% compared to the previous quarter and 9.1% compared to 2Q-15, due to the slight improvement in demand. The EBITDA margin of this division also rose and closed at 18.5%, higher than the 11.6% recorded in 1Q-16, due to the price increase and cost reduction.

 

Duratex Results April – June

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Duratex Results January – June

Million BRR