Eucatex S.a. Industria E Comercio · BMFBOVESPA:EUCA3
Eucatex S.a. Industria E Comercio — Eucatex — Q1 2019 Earnings Presentation
14 slides from Eucatex S.a. Industria E Comercio's earnings presentation, May 16, 2019
Slide 1: 1Q19 Eucatex Group Presentation
1Q19 Eucatex Group Presentation May 16, 2019
Slide 2: Highlights
Highlights Net Revenue • 1Q19: R$ 356.6 million, up 17.3% Recurring EBITDA • 1Q19: R$ 66.6 million, growth of 29.3% Recurring EBITDA Margin • 1Q19: 18.7%, expansion of 1.7 pp Recurring Net Income • 1Q19: R$ 17.6 million, up 237.8% 2
Slide 3: Eucatex Group structure for 2019
Eucatex Group structure for 2019 MDP and Expected Net Revenue growth of, approximately, 20% in the Total Laminated Flooring Seedling Nursery Revenue of the Eucatex Group Botucatu/SP Bofete/SP MDP Seedlings 430,000 m³ Laminated Flooring 10 million 12 million m² Finish Foil, BP and Lacca Paints and
Slide 4: Construction Industry
Construction Industry ABRAMAT Index – Domestic Market Between 2013 and 1Q19, the indicator is down 29.7%. Source: ABRAMAT 4
Slide 5: Evolution of Supply and Demand in Brazil's Panel Market – Quarter
Evolution of Supply and Demand in Brazil’s Panel Market – Quarter Effective Installed Capacity (Fiberboard + MDF + MDP) vs. Production % Var. 1Q18 vs. 1Q19 Total Total -1.0% Domestic Market 1.0% Export Market -11.6% Source: Eucatex Estimate 5
Slide 6: Net Revenue
Operating Data Net Revenue 1Q18 1Q19 Var R$ 303.9 million R$ 356.6 million 17.3% Distribution by Product - 1Q19 Distribution by Segment - 1Q19 6
Slide 7: Wood Segment Net Revenue
Wood Segment Net Revenue 1Q18 1Q19 Var R$ 222.9 million R$ 264.8 million 18.8% Total Market ('000 m³) DOMESTIC + EXPORT MARKETS 12.1% -1.0% Market Source: IBÁ 7
Slide 8: Wood Segment
Wood Segment Installed Capacity Utilization - 1Q19 9% 98% 75% 82% Fiberboard T-HDF/MDF MDP and flooring (370,000m³/year) (275,000 m³/year) (430,000 m³/year) Breakdown of Costs - 1Q19 All Panels Resin Panels Non-Resin Panels (Fiberboard) 8
Slide 9: Paint Segment
Paint Segment Market - Million Gallons Net Revenue 1Q18 1Q19 Var R$ 60.9 million R$ 67.2 million 10.3% Breakdown of Costs - 1Q19 Variation 1Q19 vs. 1Q18 Eucatex 0.3% Market 4.5% Source: Eucatex Installed Capacity Utilization 49% 1T19 1Q19 Total Capacity - 36 million gallons/year 9
Slide 10: Financial Data
Financial Data Highlights (R$ million) 1Q19 V.A. % 1Q18 V.A. % Var. (%) Net Revenue 356.6 100.0% 303.9 100.0% 17.3% Fair value of biological assets (0.1) 0.0% (0.6) -0.2% 89.2% Cost of products sold (258.9) -72.6% (227.5) -74.9% 13.8% Gross income 97.6 75.7 28.8% Gross Margin (%) 27.4% 24.9% 2.5 p.p
Slide 11: Debt
Debt Debt (R$ Million) 1Q19 2018 Var. (%) Short Term Debt 287.2 287.0 0.1% Long Term Debt 160.8 156.5 2.7% Gross Debt 448.0 443.5 1.0% Cash and Cash Equivalents 12.3 27.5 -55.3% Net Debt 435.8 416.1 4.7% % Short Term Debt 64% 65% -1 p.p. Net Debt/EBITDA (Rec. LTM) 1.8 1.8 -2.6% Net Debt/EBITDA (Rec.
Slide 12: Investments Planned for 2019 R$ 119 million
Investments Investments Made Planned for 2019 R$ 119 million 12
Slide 13: Sustainability - Forestry
Sustainability - Forestry 75 farms Average Radius for eucalyptus plantation, Salto Botucatu totaling 178 km 60 Km 45,800 hectares Newly Planted Forests and Seedling Management (ha) 13
Slide 14: Investor Relations contacts
José Antonio G. de Carvalho Executive Vice-President and IRO Sergio Henrique Ribeiro Controller Waneska Bandeira Investor Relations 55 (11) 3049-2473 / ri@eucatex.com.br