Corporate Presentation 1st Quarter 2016
Highlights Increase of 80% in volume when compared to the Exports same period in 2015 Colombian subsidiary is presenting excelent results. A tender offer was made for the Tablemac Company’s delisting Capital funding of R$ 675 million for 6 years with Bond 98% of CDI Wood: Increase in MDP price in March and MDF in April Price Deca: price increase in all portfolio starting in April 1
Consolidated Financial Highlights Consolidated Net Revenues (R$ million) 1Q16 4Q15 % 1Q15 % (in R$ million) Net Revenue 901,4 955,0 -5,6% 1.001,5 -10,0% Wood Division Brazil 502,9 525,1 -4,2% 593,2 -15,2% Tablemac 105,5 99,2 6,4% 72,2 46,1% Deca 292,9 330,7 -11,4% 336,0 -12,8% Recurring Gross Margin 22,2% 25,2% 29,6% % Foreign Market over Total Net Revenue 2
Consolidated Financial Highlights (in R$ million) - Brazil 1Q16 4Q15 Var % 1Q15 Var % Deca Sales Volume (in '000 items) 6.218 6.249 6.718 -0,5% -7,4% Deca Shipment Volume (in '000 items) 5.422 6.217 -12,8% 6.692 -19,0% Wood Volume (in m3) 532.984 528.331 0,9% 653.127 -18,4% Recurrent EBITDA 76,1 157,6 -51,7% 199,3 -61,8% Recurrent EBITDA Margin 9,6% 18,4% - 21,5% - Recurrent Net Profit -42,1 62,2 -167,7% 61,5 -168,5% Recurrent ROE -3,8% 5,4% - 5,4% - Colombia 1Q16 4Q15 Var % 1Q15 Var % Wood Volume (in m3) 68.000 67.295 1,0% 57.782 17,7% Recurrent EBITDA 30,2 27,8 8,6% 15,1 100% Recurrent EBITDA Margin 28,6% 28,0% - 20,9% - Recurrent Net Profit 12,6 14,0 -10,4% 7,0 80,9% Consolidated 1Q16 4Q15 Var % 1Q15 Var % Deca Sales Volume (in '000 items) 6.218 6.249 -0,5% 6.718 -7,4% Deca Shipment Volume (in '000 items) 5.422 6.217 -12,8% 6.692 -19,0% Wood Volume (in m3) 600.984 595.626 0,9% 710.909 -15,5% Recurrent EBITDA 106,3 185,3 -42,7% 214,4 -50,4% Recurrent EBITDA Margin 11,8% 19,4% - 21,4% - Recurrent Net Profit -29,6 76,2 -138,8% 68,5 -143,2% Recurrent ROE -2,6% 6,5% - 5,9% - 3
Brazil’s Wood Panel Market In ‘000 m 3 MDF Market Annual Effective Capacity: 5.170 -8,9% -8,5% 13,4% MDP Markey Annual Effective Capacity: 4.030 -14,9% -14,9% -1,6% 4
Operational Highlights Wood Shipments (in ‘000 m 3 ) Installed Capacity and Occupancy Rate in the Quarter* -15,5% +0,9% 5 * Considering Itapetininga’s capacity for the calculation
Financial Highlights Wood Net Revenue (R$ million) and Recuring EBITDA (R$ million) and Gross Margin (%) EBITDA Margin (%) 23,1% 22,1% 11,6% 28,1% 23,5% 20,2% -8,6% -54,1% -2,5% -48,8% 6
Building Material Industry ABRAMAT INDEX – INTERNAL MARKET Measures growth in revenue of building materials in the internal market, relative performance to the same period in the previous year 7 Source: Brazilian Building Material Industry Association
Operational Highlights Deca Shipments (in ‘000 items) Installed Capacity and Occupancy Rate in the Quarter -19,0% -12,8% * ** For 1Q16 the sales volume was of 6.2 million items, with a great concentration in the end of the month of March, that was shipped in April ( 800k items) * Includes 536k items from Corona 8 ** Includes 233k items from Corona
Financial Highlights Deca Net Revenue (R$ million) and Recuring EBITDA (R$ million) and Gross Margin (%) EBITDA Margin (%) 18,0% 14,3% 12,2% 32,5% 28,5% 26,4% -12,8% -11,4% -41,0% -24,8% For 1Q16 the sales volume was of 6.2 million items, with a great concentration in the end of the month of March, that was shipped in April ( 800k items) Corresponding to R$ 36 million of Net Revenue and an additional EBITDA of R$ 11.2million 9
Consolidated CAPEX and Main Investments In R$ million 3.719,6 832,2 Main Projetcs of 2016 Delisting of Colombian 635,8 subsidiary Tablemac 607,9 601,5 556,2 486,0 10
Indebtedness Amortization Schedule (R$ M) Debt Origin (%) 11 * 100% Hedge
Main actions for the year of 2016 Internal Duratex Management System (Falconi) and Zero Based Budget Agenda Optimization of operational processes (logistics, sales and Management inventory management) External Increase in exports Market CAPEX restricted to maintenance CAPEX Capacity Capacity adjusted to current market Utilization 12
Disclaimer The information contained herein was prepared by Duratex S.A. and does not constitute an offering material, to subscribe for or purchase any of the Company’s securities. This material also brings general information about Duratex S.A. and its markets. No representation or warranty, express or implied, is made concerning, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented herein. The Company can give no assurance that expectations disclosed in this presentation will be confirmed. April 2016 13 13
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