SÃO PAULO, March 21, 2018 /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 2017 (4Q17).
- The year of 2017 was marked by the continued reduction in interest rates and low inflation, which ended the year below the target, positively influencing economic activity.
- Another factor driving the positive result was the release of inactive workers' severance funds (FGTS) accounts, which helped boost household consumption, decrease indebtedness and promote credit recovery.
- The stability in debt servicing percentage and low household debt levels favor fresh borrowings.
- Physical sales in the Company's Wood Segment, considering both domestic and export markets, advanced 10.8% in 4Q17 and 21% in 2017.
- "The Company believes and is confident in the new business environment, and is continuing the actions aimed at driving domestic and export sales, while reducing expenses and streamlining processes," said José Antônio Goulart de Carvalho, Executive Vice-President and Investor Relations Officer.
- Net Revenue of R$318.3 million (+11.9%)
- Recurring EBITDA of R$59.5 million (+27.3%), with margin of 18.7%
- Recurring Net Income of R$18.6 million (+32.8%)
Event after the Reporting Period
Acquisition of the Hardboard production unit from Duratex in the city of Botucatu, state of São Paulo, for an expansion of more than 80% in the installed production capacity of the product. Consummation of the transaction is subject to approval by Brazil's antitrust authority (CADE).
The earnings release, presentation and complete financial statements are available at: www.eucatex.com.br/ri
4Q17 Conference Call: March 22, 2018, 9:30 a.m. (Brazil), Dial-in: (11) 2188-0155, Code: Eucatex.
Investor Relations: firstname.lastname@example.org (+55 11) 3049-2473
Eucatex S.A. Indústria e Comércio completes 67 years in 2018 and is one of Brazil's largest manufacturers of laminated 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 2,433 people. Its products are exported to more than 37 countries. For further information, visit www.eucatex.com.br/ri.