SAO PAULO, Brazil, Nov. 8 /PRNewswire-FirstCall/ -- Eucatex (Bovespa: EUCA3 e EUCA4), one of the largest manufacturers of hardboard and medium density particleboard (MDP) in Brazil, with operations also in the paint, laminate flooring, partitions and agricultural substrate sectors, announces its results for the third quarter of 2007 (3Q07). The Company's consolidated financial statements are presented in accordance with Brazilian Corporate Law.
Highlights
-- Gross revenue totaled R$193.4 million in the quarter, up 15.2% over the
3Q06. In 9M07, gross revenue amounted to R$562.3 million, an
increase of 11% compared to 9M06, due to higher domestic sales
volumes.
-- EBITDA reached R$25.3 million in the quarter, up 165.8% compared to
3Q06, while EBITDA margin rose from 6.8% to 16.4%. In 9M07, EBITDA
moved up by 61% to R$75.8 million.
-- Net financial results stood at R$2.2 million in 9M07, versus an
expense of R$65.5 million in the same period last year.
-- Eucatex net income was R$21.4 million in the quarter, against a net
loss of R$ 32.1 in 3Q06. In the year, net income was
R$42.1 million, versus the R$59.2 million loss recorded in the same
quarter last year.
-- On September 19, 2007, Eucatex successfully ratified the results of its
judicial recovery plan presented at the general meeting held in October
2006, with the remaining net debt standing at R$ 98.7 million.
The judicial recovery plan was fully approved by the creditors and
consisted of: a) Payment in kind of lands and forests, however, without
impacting the sustainability of the forestry business; b) Debentures
convertible into capital; c) Payment in cash, and d) Lengthening of the
remaining debt to up to 10 years, leaving the company with a net
debt/EBITDA ratio of 1.0x in 3Q07, representing sharp improvement
in relation to the ratio of 6.0x in 3Q06.
Conference Call - Portuguese: 11/09/07
10:00 AM (Brasilia time) - 7:00 AM (U.S. ET)
Phone: 55 11 4688-6301
Code: Eucatex
Webcast: http://www.eucatex.com.br/ri
Eucatex - Investors Relations
Phone: 55 11 3049-2361
Email: