MEXICO - Proteak, Mexico's largest forestry company, reported results for the third quarter of 2021 (3Q-2021).

Sales of the MDF and Teak businesses reached MXP 546 million in the quarter, 57% above 3Q-2021, excluding other income and plantation revaluation.

For the third consecutive quarter, 3Q-2021 achieved record results in the history of Tecnotabla (MDF), with a volume of 65,090 m3, representing an increase of 14% over 3Q-2020. Sales revenue reached MXP 541 million, 67% above 3Q-2020.

Market conditions have allowed us to capture additional price increases, reaching +50% on average compared to 3Q-2020.

In 3Q-2021, sales in the export market (USA) represented 4% of the total, keeping this channel open and with good customer relations.

During the period, there was a trend of recovery and improvement in global economic activity, surpassing pre-pandemic levels, mainly in the wood processing industry. There was also a decrease in imports of Chinese products.

In 3Q-2021, due to record sales, Tecnotabla's market share was 25% in Natural MDF and 35% in the melamine market.