COLOMBIA – With growth in sales above 30% and in net income above 85%, the second quarter of 2015 proved to be the best recorded by Colombian board manufacturer Tablemac.

Tablemac reached consolidated net sales in the second quarter 2015 of COP 67.808 million, an increase of 30.8% in relation to COP 51.838 million achieved in the second quarter of 2014. Cumulative net sales stood at COP 126.963 million representing a 21.5% increase compared to COP 104.533 million in the first half of 2014.

EBITDA also reached important levels. Consolidated EBITDA for the quarter was COP 16.306 million, 78.6% higher compared to the COP 9.129 million in the 2Q of 2014. The accumulated EBITDA for the year was COP 30.558 million, 47.5% higher than the COP 20.712 million with which Tablemac closed the first half of 2014.

While the industry in the region is beginning to feel the impact of the slowdown in the economy, Tablemac’s quarterly net income grew 85.4%, from COP 5.764 million in 2Q/2014 to COP 10.867 million in 2Q/2015. And despite the impact of the new wealth tax of COP 2.907 million on 1Q/2015 results, the cumulative net profit of 1S/2015 grew 33.3% from COP 11.186 million in 1S/2014 to COP 14.916 million in 1S/2015.

Analysts note that Tablemac has taken advantage of the drop in board imports, mainly due to the devaluation of the Colombian peso, to consolidate its position in the local market and achieve outstanding results in the period.

 

Tablemac Results April – June

Million COP

 

Tablemac Results January – June

Million COP