Proteak sales affected negatively by lagging MDF sales

MEXICO –Proteak, a world leader in the producton of teak and since 2016 manufacturer of MDF boards under the Tecnotabla brand at its state of the art plant in Tabasco, reported consolidated sales of MXP 265 million in 1Q-2018, 8% below 1Q-2017 sales and explained as an effect of the price pressure in the MDF board market and lower sales volume.

785PROTEAKIn 1Q-2018 MDF sales totaled MXP 210 million, a 13.2% drop compared to 1Q-2017 sales and 8% over the sales registered in the 4Q-2017. Although sales of Tecnotabla MDF boards are not at the level of 1Q-2017, the company reports that buying recurrence continues to be at 80% and that during the 1Q-2018 prices had an average increase of 5% due to a strategy to stabilize the market price.

During 1Q-2018 sales of MDF to the US market continued to strengthen and reached MXP 19 million, representing 8% of the total quarter sales. Proteak has been developing a strategy of market penetration in the United States which has been proven successful as sales of the Teak división during the quarter were almost twice the ones registered in 1Q-2017.

Meanwhile the local Mexican MDF market continued to develop, with national board production taking a more relevant position over imported boards. Based on Tecnotabla’s analysis, it is estimated that in the first quarter of 2018 imports decreased 30% vs 1Q-2017 and the sale of domestic production surpassed the sale of import MDF boards. Tecnotabla with its new plant has played an important role in this accelerated transformation of the market.

proteak 1Q18 ENG

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