BRAZIL - Duratex, the largest wooden panel manufacturer in Brazil, recorded sales of BRL 1 billion in the first quarter of 2018, up 5.7% against the same period 2017.

Adjusted and recurring EBITDA totaled BRL 182.2 million, which represented an improvement of 22.9% in the comparison with the previous year.

Consolidated profit in the period was BRL 30.8 million, a notable improvement (+ 432.2%) when compared to the loss of BRL 9.3 million recorded in the 1Q of 2017.

“We have registered improvements in the numbers due to market growth and the initiatives of the company’s internal agenda, which aim to gain efficiency, productivity, cost management and asset profitability,” explained Henrique Haddad, director of Investor Relations of Duratex.

The company started the year highlighting in its results report the performance of its new business unit, the Ceramic Coatings Division, which through the Ceusa brand represents an important step in complementing the portfolio offered by Duratex to the market.

The Wood Division was also highlighted in the period due to its increase in sales volume, price increases and efficient management of operating costs. Sales of the wood division were up 3.1% and reached BRL 628.1 million in the 1Q-2018. The operation of Duratex Colombia, dedicated exclusively to the wood business, presented double-digit sales growth in the quarter, reaching BRL 92.8 million, up 10.7% from the BRL 83.8 million registered in 1Q-2017.