BRASIL – Eucatex, one of the largest manufacturers of panels in Brazil, with operations also in the paint and varnish, laminated flooring, partitions and doors segments, registered net income of BRR 19.7 million in the second quarter of 2016, an increase of 83.7% from the same period in 2015.

The result was driven by higher exports, with export net revenue increasing by 14.2% in the second quarter.

According to the Executive Vice President and Investor Relations Officer, José Antônio Goulart Carvalho, the growth in exports has helped maintain performance close to the levels recorded in the first half of 2015. “Last year, the Company prepared itself to boost exports by modernizing and adjusting its product line, which yielded positive results,” he said. In terms of volume, exports of wood panels increased by 26.7% from the second quarter of 2015. This increase is due to higher sales of T-HDF/MDF (+240.9%) and MDP (+445.6%). Exports of these products were incipient in 2014, but these have since increased their share of exports in 2015.

In addition to the export market, the Company’s strategy also includes cutting expenses. “Efforts are under way to reduce costs and investments in order to safeguard the Company during this challenging moment,” he explained. Administrative expenses in the second quarter fell 2.7% from the same period last year. The decrease already reflects the initial results of the measures to review the services and the administrative structure.

The Paint Segment registered net revenue growth of 9.8%, driven by higher volumes (+4.4%) and prices (+5.1%) between April and June 2016. In the second quarter, Eucatex’s net revenue grew 5.9% to BRR 280.4 million.

Eucatex Results April - June

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Eucatex Results January - June

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