ECUADOR - According to the annual ranking of the Top 1000 Ecuadorian Companies published by Ekos magazine, sales of the six companies in the wood and furniture segment that made the ranking grew by 6.6 percent in 2018, reaching USD 341.8 million compared to USD 320.6 million in 2017.
This growth is well above the 1.4 percent expansion achieved by the Ecuadorian economy in 2018.
Of the six companies that made the Ekos Top 1000 Ranking, Novopan, Aglomerados Cotopaxi, Colineal and Muebles El Bosque managed to grow their sales in 2018, while sales of Empresas Durini and Botrosa were down in 2018.
The highest sales growth in 2018 were recorded by furniture retailer Muebles El Bosque (+ 16.4%); by the country’s largest panel manufacturer, Novopan (+ 13.8%); and by Aglomerados Cotopaxi (+ 5.2%) the only MDF manufacturer in Ecuador.
Novopan was once again the leader among companies in the wood and furniture segment in 2018, with sales of USD 134.5 million (2017: USD 118.8 million). Followed by Empresas Durini, Aglomerados Cotopaxi and Colineal with sales of USD 60.9 million, 48.2 million and 45.0 million respectively.
In terms of net result, Novopan with profits reaching USD 27.4 million in 2018 (2017: USD 29.6 million) was by far the most profitable. Followed by Colineal with USD 2.57 million and Aglomerados Cotopaxi with profits of USD 2.06 million.