MEXICO - Proteak, Mexico's largest forestry company, reported fourth quarter and consolidated results for 2021.

Sales of the MDF and Teak businesses reached MXP 504.7 million in the quarter, 106% above 4Q-2020.

Consolidated sales of the MDF and Teak businesses in 2021 reached MXP 1,929.9 million, 67% above the previous year.

In 4Q-2021 Tecnotabla (MDF), marketed a volume of 56,986 m3, representing an increase of 13% compared to 4Q-2020. MDF sales revenue reached MXP 502.9 million, 68.1% higher than 4Q-2020. In 4Q-2021, sales in the export market (USA) accounted for 4% of the total, keeping this channel open and with a good relationship with customers.

In 4Q-2021, Tecnotabla's market share was maintained, despite the growth in market size, reaching 24% in raw MDF and 34% in the melamine market.

Market conditions have allowed the company to capture additional price increases, reaching an average price 48% above the price in 4Q-2020.

At the end of 2021, Tecnotabla achieved its highest level of production with a total of 235,952 m3, equivalent to an average monthly production of 19,663 m3, 23% above MDF production in 2020.