MEXICO – Proteak, Mexico’s largest forestry company, reported results for the fourth quarter of 2022 (4Q-2022).

Sales for the MDF and Teak businesses reached MXN 435 million in the quarter, 13.7% lower than the same quarter of the previous year and -1% vs. the previous quarter, excluding other income and plantation revaluation.

During 4Q-2022, Tecnotabla (MDF) sales volume was 50,743 m3 -14% vs. 4Q-2021 and +7% vs. 3Q-2022, with a value-added product share of 35%. MDF sales revenue reached MXN435 million, -14% vs. 4Q-2021 and -1% vs. 3Q-2022.

Over the course of 4Q-2022, sales in the export market (USA) represented 3% of the total, keeping the channel open and with good customer relations.

During the fourth quarter, the market continued with the downward trend that had been marked since previous quarters, due to the entry of imported MDF, the reduction in demand and the downward trend in prices.

Net income after taxes for the 4Q-2022 reached MXN 49 million