MEXICO – Proteak, the largest forestry company in Mexico specializing in MDF boards and teak, posted mixed financial results in its latest report.

In the 4Q-2024, revenue grew 40.2% to MXN 328.1 million, driven by a 365,5% increase in other income. However, MDF sales fell 18,9% and teak sales dropped 122.6%. The net loss was MXN 57,1 million, improving from MXN 173.6 million in same period of the previous year.

On an annual basis, total revenue declined 6.3% to MXN 1,274.5 million. MDF sales dropped 16,7% and teak sales fell 57,8%, while other income rose by 488,9%. Despite this increase, the company reported a net loss of MXN 682.2 million, more than double the 2023 figure, with its net margin deteriorating to -53,5%.

Proteak remains in bankruptcy proceedings and faces significant financial challenges. The reduction in losses in the last quarter suggests a potential turning point, but its long-term viability will depend on its ability to restructure, optimize costs, and secure new funding sources in an increasingly competitive market.