2Q17 Press Release
Eucatex net revenue grows 3.5% in the second quarter
São Paulo, August 9, 2017 – Eucatex (BM&FBovespa: EUCA3 and EUCA4), one of the largest manufacturers of panels in Brazil, with operations also in the paint and varnish, laminated flooring, partitions and doors segments, registered net revenue of R$290.3 million in the second quarter of 2017, an increase of 3.5% from the same period in 2016. Recurring EBITDA in the period amounted to R$52.5 million (+2.5%), with margin of 18.1%.
The increase in the Company’s net revenue was supported by Wood Segment sales to both domestic and export markets, which grew 11.9% from the second quarter of 2016, above the market, which fell 2.1% according to the Brazilian Tree Association (IBÁ). According to José Antônio Goulart, Executive Vice-President and Investor Relations Officer, despite Brazil’s economic and political instability, Eucatex was able to improve sales in the segment, driven by its internal efforts to overcome this challenging scenario by focusing on leveraging sales. “The Company continues to adjust its structure, and the results will be seen in the coming quarters,” said Goulart de Carvalho.
Recurring net income in the second quarter of 2017 was R$3.2 million, down 83.7%, impacted by exchange variation.
Eucatex S.A. Indústria e Comércio completed 65 years in 2016 and is one of Brazil’s largest manufacturers of flooring, wall partitions, doors, MDP/MDF/T-HDF panels, fiberboard, and paints and varnishes. It operates five modern plants in Botucatu and Salto (both in São Paulo) and Cabo de Santo Agostinho (Pernambuco), employing 2,432 people. Its products are exported to more than 37 countries. For more information, visit ri.eucatex.com.br.