BRAZIL - Duratex, the largest wooden panel manufacturer in Brazil, reported consolidated net sales for the third quarter of BRL 1,512.5 million, reflecting a 48.4% growth compared to the same period of last year.

It should be noted that, of this amount, BRL 235.1 million refers to the sale of forestry assets to Suzano Papel e Celulose.

The foreign market had revenues of BRL 274.2 million in the quarter, of which BRL 145.7 million came from exports from Brazil and 128.5 million from Duratex Colombia operations. The share of the foreign market in the composition of the Company's revenues reached the level of 18.2% in the quarter.

The increase in revenue was mainly due to higher sales volume in the three business divisions and price increases in the period. In addition, the exchange rate depreciation and the increase in export volumes contributed to the acceleration of revenues from foreign markets.

In the year to date, consolidated sales reached BRL 3,686.0 million, an increase of 27.6% over last year. Disregarding the effects of the sale of forestry assets to Suzano, sales growth for the year would have been 17.5%.

In the third quarter, recurring net income (profit) was BRL 61.6 million, an increase of 17.8% compared to the previous year. From January to September 2018, profit was BRL 119.9 million, reflecting an increase of 77.0% over last year.