Eucatex's profit rises with higher sales 45.6%

The Eucatex, manufacturer of wood paneling and paintwork controlled by Maluf's family, recorded net income of r $ 35.1 million in the third quarter, equivalent to growth of 45.6% in comparison with the established a year earlier. The end result was driven by increased sales in virtually all segments of the company, with emphasis on the business of wooden panels.
From July to September, the net revenue totaled r $ Eucatex 292,9 million, up 17.5 percent on the same basis of comparison. Already the result before interest, taxes, depreciation and amortization (Ebitda) climbed 22.9% recurring adjusted for R $ 60.7 million. The adjusted Ebitda margin increased from 19.8% to 20.7%.
At the same time, the cost of goods sold (COGS) advanced 15.9% in the quarter, compared to the same range of 2012, to $ 206 million. According to the Executive Vice President and Director of investor relations, José Antonio George de Carvalho, the exchange rate has pushed the cost of chemical inputs which are dollarized.
"In the fourth quarter, it is possible that there is some correction in prices, with transfer of such costs, if demand remains firm," said the Executive. Demand heated by wood panelling, whose markets are construction and furniture industry, remained at the beginning of the fourth quarter, as oak, and led to the billing record register Eucatex in October. "November will also be showing very positive," he added. "And everything indicates that 2014 might be an even better year to 2013."
In the third quarter, in addition to the expansion of domestic sales, Eucatex expanded in 50% the exportation of plates, in order to take advantage of the favorable exchange rate to foreign sales. The United States was the main destination of the product of the company.
According to Carvalho, the new factory of MDF panels/T-HDF, inaugurated between the end of 2010 and beginning of 2011 with a capacity of 275 thousand cubic meters per year, has contributed important way for improving operational results of Eucatex. "The volume of production at the new plant follows growing and we must overcome this nominal capacity further," he said. With the line, the billing of Eucatex in MDF, which represents about 20% of the business, grew 33%.