Duratex: Middle East an attractive market for wood-based panels
Duratex reported a positive performance in Q2 with net revenues of US$296 Mn. Of this amount, US$ 51.74 Mn were earnings from exports, accounting for 17.5 per cent of the total. The Middle East and North African market made up a substantial bulk of sales.
“This is an attractive consumer market, to which the company exports, basically, wood panels (MDP, MDF and hardboard)”, the company said in a statement. “Duratex considers the region an important one.”
While export sales rose 7.6 per cent over Q1, there was a decline of 23.8 per cent over Q2/2016. The Brazilian company announced its Q2 results last week.
EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) stood at 19.4 per cent in Q2, against 15.6 per cent in Q1. The company registered a net profit of US$8 Mn from April to June, against a loss of US$2.42 Mn from January to March.
Brazilian exports of wood and wood products to Arab countries totaled over US$18 Mn in Q2, up 10.1 per cent over the same period last year, according to data from the Ministry of Industry, Foreign Trade and Services (MDIC). Saudi Arabia was the leading market in the region from April to June.
Wood panel exports yielded US$3.75 Mn, up 21.2 per cent compared to the same period last year. Saudi Arabia was the top market.