BRAZIL - Eucatex, one of the largest manufacturers of Wooden panels in Brazil, with operations also in the paint, varnish, laminated flooring, partitions and doors segments, announces its results for the 3rd quarter of 2021 (3Q-2021).

Total sales revenue in 3Q-2021 came to BRL 654.0 million, compared to BRL 531.4 million in 3Q-2020, up 23.1%.

In the first nine months of 2021 (9M-2021), total sales revenue was BRL 1,739.8 million, as against BRL 1,269.7 million in 9M-2020, growing 37.0%.

In the Wood Segment, revenue grew 27.7% from 3Q-2020, reflecting the increase in sales prices in both the domestic and export markets. Net Revenue in 9M-2021 grew 43.6% in relation to the same period in 2020, reflecting both the variation in sales prices and higher volume.

Recurring EBITDA amounted to BRL 149.2 million in the 3Q-2021, growing 27.4% compared to 3Q-2020. Recurring EBITDA Margin reached 22.8% in 3Q-2021, increasing 0.8 p.p. from the same period last year. In 9M-2021, recurring EBITDA amounted to BRL 404.9 million, up 62.7% from 9M-2020, while Recurring EBITDA Margin rose 3.7 p.p.

Recurring Net Income (Profit) in 3Q-2021, excluding the effect of non-recurring expenses and net of income tax, totaled BRL 69.8 million.

Investments in 3Q-2021 totaled BRL 58.8 million and were allocated to maintaining the Company’s industrial and forest operations. For 2021, investments of around BRL 175.9 million are planned, an increase of 14.7% from 2020, due to the significant increase in the plantation of new forests and the increase in prices of imported parts and services due to the weaker brazilian real (BRL).