New management wants to more than double the Duratex

After a process of succession smoothly, Duratex begins to implement its strategic plan of growth, which provides more than double its size by 2020 compared to the current level. Only in organic expansion, the investments already planned for five years, from 2014, totaling $ 2 billion, according to the value the new company President, Antonio Joaquim de Oliveira, in the first interview since he took office three months ago.
Maintaining the soundness of the results of the company and the acceleration of growth are priorities of his administration, said Oliveira. The expansion will be based on the consolidation of ongoing investment, growth in the areas in which it is present and in new businesses.
Controlled by itasa and Ligna Investments, Duratex is a leader in products of two business divisions in which it operates: wooden panels and sanitary vitreous Chinaware and metal fittings. In 2012, the company had net revenues of r $ 3.4 billion, Ebitda (earnings before interest, taxes, depreciation and amortization) of $ 1 billion and net income of r $ 460 million.
In July, the company gave the match a set of operations that, when they are at full steam, will raise its production capacity by 30%. According to the Executive, that reflect in an increase of 30% of Ebitda also in 2014. "These projects help to increase volumes and to improve the company's margins," he said.
The company started the unit of MDF wood panels in Itapetininga (SP), with an installed capacity of 520 000 m3 annually. The only investment in the factory, adding forestry area reached R $ 600 million. In 60 days, estimates, is already in full operation. Other investment of wood Division, also departing in July, was the expansion in 230 thousand m3 of productive capacity of MDP panels of Taquari (RS). There were invested R $ 90 million.
The package of almost r $ 1 billion to be completed this year, also contemplated the Deca Division. The installed capacity of crockery was expanded in 2.4 million pieces, with investments of r $ 150 million in burn unit (RJ). Also in this Division-which accounts for 40% of business-the company will complete contributions of $ 120 million in 2013, to raise the capacity of metals, in Jundiaí (SP), on 1.2 million pieces.
For the current business-sanitary vitreous Chinaware and metal fittings and wood-showers, Duratex has organic growth plan. In the Deca Division, acquisitions are not discarded, and there are projects of new factories in evaluation. The consolidation of Thermosystem, a company specialized in the manufacture of electronic and showers solar heating systems, acquired in 2012, is nearing completion. The goal is to grow in this segment.
At the time, the company concludes the final technical details of a new project, robust, wooden panels. The place chosen must be Minas Gerais. The start-up is scheduled for 2016, when the current ability to offer this product in Brazil will be fully used, according to the Executive. According to him, the company's investments already made in forests are sufficient to support future expansion of dividing panels.
In new business, Duratex has his eye on areas that have affinity with those of its activities which may capture synergies and brand management. "We are a 60-year-old lady, mature, capitalized and poised to grow", says the Executive. The expansion of this area will occur based mainly through acquisitions of assets. Oliveira ensures that there is still no target set thus far.
Despite the worsening economy, the Duratex maintains growth estimates and projection to invest $ 660 million in the year. "The role of a leader is to continue with investments," he said. For the volume shipped of wood Division, Duratex estimates expansion of twice the growth of gross domestic product (GDP) of Brazil and Deca, 1.5. The Bill considers the circuit GDP at the end of 2012 for this year, with an increase of 3% to 3.5%. "In the first half, we overcome the goal mapped out and, in July, we were in line," said Oliveira.
The Executive pointed out that the Duratex favors banks with regard to volumes. At the beginning of 2013, the company reduced prices of wooden panels in 6%. At the turn of the year, there were adjustments of some lines of Deca. "The scenario for the second half is price stability. In our planning, we don't foresee any new adjustments, "said the President.
The reduction of releases for publicly traded real estate developers real estate last year does not care about the company. "The expectation is that 2013 continues a good year compared to delivery of projects," said the Executive. According to Oliveira, two-thirds of the sales of Deca are intended for the reforms, being only one-third for new units. The wood Division already has the furniture industry as its main customer, followed by the construction sector.
According to Oliveira, Duratex's growth ambitions are not restricted to Brazil. The focus abroad, at the moment, is the Latin America. Last year, announced the purchase of stake in Colombian manufacturer of wooden panels Tablemac. "We want to grow in business, industries and countries that add value to the result," he said.
With comfortable financial profile-net debt of R $ 1.48 billion and $ 800 million in June, he said the growth will be supported by shareholders ' equity and long-term financing, such as from BNDES.