MEXICO - Proteak, Mexico's largest forestry company, reported its results for 2Q-2023.

Sales revenue was MXN 379 million, 21.6 percent lower than in 2Q-2022 (MXN 483.3 million). Net loss was MXN 12.63 million compared to MXN 27.22 million in 2Q-2023.

Sales revenues for 2Q-2022 brought revenues in the first half of the year to MXN 790.6 million, compared to MXN 1,123.8 million (-29.6 percent).

During 2Q-2023, Tecnotabla (MDF) sales volume was 48,883 m3, 7 percent higher than in 2Q-2022 and 8 percent below 1Q-2023, with a value-added product (laminated MDF) share of around 26 percent. MDF sales revenue reached MXN356.7 million, 23 percent lower than vs 2Q-2022, due to lower prices.

Over the course of 2Q-2023, sales in the export market (USA) accounted for 4 percent of the total, keeping the channel open and with good customer relations.

Over the course of the period, the market reflected a slight recovery of +2% compared to the end of the first quarter of the current year; however, prices continue to decline.

In the current quarter, market share increased 1 percentage point vs. the previous quarter and vs. 2022, reaching 24% in Natural MDF and 36% in melamine.