Investor Presentaiton
October 12, 2021
MDF WOOD BOARDS (P$6.1 PER SHARE)
MDF boards are used for furniture, cabinets, flooring, and interior design projects. Through an industrial process, wood is
broken down into fiber that is then compressed together using glue and heat. The end product is seamlessly-looking boards
that are resistant, solid, and easy to work with. This allows for the use of paint and thermally fused melamine, i.e. value-added
paper overlays, which add a look of design and beauty.
Mexico's demand for MDF: 852,000 m3 in 2019 (+5.3% 2016-2019 CAGR), based on company estimates. In our view, increased
MDF consumption is explained by its qualities, both aesthetic and physical, that make it stand out against particle boards (PB)
as a better-looking and more resistant material.
Mexico's MDF Consumption
- Thousand m³
2019 Market Share
900
730
CAGR 5.3%
600
300
0
2016
Source: Company estimates
Natural Boards
8%
0 10
20
852
20
30
40
40
50
50
60
60
70
80
90
100
22%
42%
22%
14%
750k m³
4%
Value-Added Boards
0%
2019
0
10
20
20
30
40 50 60
70 80
90
100
26%
56%
8%
10%
102k m³
⑪ TECNOTABLA
Arauco (Company)
Imports
Others
by PROTEAK
Source: Company estimates
GBM
TEAK: AFTER ALL, MONEY DOES GROW ON TREES. | 18View entire presentation