BRAZIL – Duratex, Brazil’s largest panel manufacturer, reported consolidated sales for the third quarter 2019 (3Q-2019) of BRL 1,308.4 million, a 13.5 percent drop compared to the same period 2018.

Disregarding the sales of assets to Suzano S.A. in the 3Q-2018, sales were up of 2.4 percent in 3Q-2019. In the first nine months of 2019 (9M-2019) and excluding effects of the above mentioned sale to Suzano S.A., sales were up 3.2 percent.

Sales in the 3Q-2019 to the foreign market reached BRL 206.3 million, 24.7 percent lower than 3Q-2018. Sales share of the external market in the 3Q-2019 was 15.8 percent. In 9M-2019 sale to the external market totaled BRL 617.9 million, equivalent to 17.5 percent of total sales.

In the third quarter, Adjusted and Recurring EBITDA was BRL 237.9 million, growth of 13.5 percent compared to the same period of the previous year, justified by the differential of the result arising from the acquisition of Cecrisa S.A.

As a result of higher general and administrative expenses and worsening of the Company's financial results, both resulting from the consolidation of Cecrisa’s results, as well as higher expenses with the new soluble pulp unit, recurring net profit was BRL 30.5 million in the 3Q-2019 , down 50.5 percent compared to the same period last year. From January to September 2019, recurring net profit was BRL 119.2 million, in line with the same period of 2018.