São Paulo, Brazil, South America, 13 August 2008 -- Eucatex (Bovespa: EUCA3 and EUCA4; Bloomberg: EUCA3 BZ and EUCA4 BZ), one of the largest manufacturers of hardboard and medium density particleboard (MDP) in Brazil, with operations also in the paint and varnish, laminate flooring, partitions, mineral products, and agricultural substrate sectors, announces highlights of its results for the first half of 2008 (1H08).
Gross revenue for the half totaled BRN 418.7 million, a 13.5% growth compared to the first half of 2007 (1H07). The increase in gross revenue was mainly due to higher domestic sales volumes, notably the 34% growth in paints, 15% in laminate flooring, and 8% in wood panels.
EBITDA and EBITDA margin stood at BRN 66.0 million and 19.5%, respectively, in 1H08, an increase of 32.3% and 3.1 percentage points over 1H07.
Net income was BRN 30.7 million in the 1H08, which is 48.4% higher than in the previous year.
Installation of a new thin-high density fiberboard line in Salto (São Paulo State), including a new wood yard, is progressing according to schedule. The project is expected to be concluded in the first half of 2009.
The complete 1H08 earnings release is available at www.eucatex.com.br/ir.