SÃO PAULO, March 27, 2019 /PRNewswire/ — Eucatex (B3: 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, announces today its results for the fourth quarter of 2018 (4Q18) and 2018.
Total Net Revenue reached R$335.3 million in 4Q18, compared to R$318.3 million in 4Q17 (+5.4%) mainly driven by its Operating Segments: Wood and Paints, which grew 12.0% and 8.5%, respectively, in the quarter, and 8.1% and 7.1% in the year, resulting from the 12.7% increase in prices.
In 2018, Recurring EBITDA totaled R$231.9 million, increasing 9.0% from 2017, while Recurring EBITDA Margin stood at 18.4% (+0.8 p.p.). In the quarterly comparison, Recurring EBITDA totaled R$64.4 million (+8.3%), while Recurring EBITDA Margin reached 19.2%, compared to 18.7% in 4Q17.
Sales in the Company’s Wood Segment, considering both the domestic and export markets, grew 1.2% in 4Q18. Export volume in this segment grew 19.4% in the quarter. In addition to the policy of increasing exports, the Company increased spot sales, especially of MDP, thus taking advantage of the favorable exchange scenario.
Recurring Net Income amounted to R$46.0 million in 4Q18, up 147.2% from 4Q17, impacted by the exchange variation and the fair value of biological assets. In 2018, recurring net income was R$55.1 million, down 15.6% from 2017.
In Oct/18, the Company concluded the Asset Swap Process with Duratex, increasing its Fiberboard production capacity and immediately started operating it, which contributed to revenue growth in 4Q18 and will be more evident during 2019.
The earnings release, presentation and financial statements are available at: www.eucatex.com.br/ri
Conference Call: March 28, 2019, 11:00 a.m. (Brazil), Dial-in: (11) 2188-0155.
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