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Disclaimer
Thi t ti i l d f d l ki t t t th t bj t t• This presentation includes forward‐looking statements that are subject to 
risks and uncertainties based on the beliefs and assumptions of the 
Company’s management, and on information currently available to the 
Company. 
• Forward‐looking statements are not guarantees of performance. They 
involve risks, uncertainties and assumptions because they relate to futureinvolve risks, uncertainties and assumptions because they relate to future 
events and therefore depend on circumstances that may or may not occur. 
• Investors should understand that overall economic conditions, industry 
diti d th ti f t ff t th ’ f tconditions and other operating factors may affect the company’s future 
results and may lead to results that differ materially from those expressed 
in such forward‐looking statements.
2
Agenda
3rd Q t Hi hli ht» 3rd Quarter Highlights
» MDP, MDF, Laminate Flooring and Paints g
» Operating Performance
» Financial Performance
Fi i l R t t i» Financial Reestructuring
» Capital Marketp
» Why Eucatex?
3
3rd Quarter Highlights 
» Sales growth in all lines of Eucatex’s products» Sales growth in all lines of Eucatex s products 
Growth of the real estate sector and favorable macroeconomic moment
Good sales performance in the paint segment – 52% growth in the 9M07
» Substantially improved financial results
Gross revenue moved up by 15 2% to R$ 193 4 million in the 3Q07Gross revenue moved up by 15.2%, to R$ 193.4 million in the 3Q07
EBITDA increased by 165.8%, to R$ 25.3 million, accompanied by an EBITDA margin of 16.4%
(+9.6 p.p.)
Turnaround from  a loss of R$32 million loss to net income of R$ 21,4 million 
YTD net income totaled R$42.1 million, with 9.2% net margin
» Successful completion of the capital restructuring
Eucatex is prepared for a new growth cycle
4
MDP and MDF Demand
MDP Consumption
(Growth 2006 x 2007 = 20%)
MDF Consumption
(Growth 2006 x 2007 = 43%)
(9M07)m3
1.400.000
1.600.000
1.800.000
2.000.000
m3 ( )
+20 %
(Growth 2006 x 2007 20%)
(9M07)m3
1.400.000
1.600.000
1.800.000
2.000.000
+43 %
(9M07)
1.400.000
1.600.000
1.800.000
2.000.000
m3 m3
1.569.565
1.577.741
1.888.627
400 000
600.000
800.000
1.000.000
1.200.000
040.213
1.318.728
1.518.654
400 000
600.000
800.000
1.000.000
1.200.000
400 000
600.000
800.000
1.000.000
1.200.000
-
200.000
400.000
2.005 2.006 2.007
1.0
-
200.000
400.000
2.005 2.006 2.007
-
200.000
400.000
Use of MDP 2006      
(%) Germany USA China Brazil
Furniture 53% 27% 95% 89%
Use of MDF 2006       
(%) Germany USA China Brazil
Furniture 25% 19% 65% 55%
Construction 11% 46% 15% 39%
Construction 31% 55% ‐ 8%
Laminating Flooring ‐ ‐ ‐ 2%
Construction 11% 46% 15% 39%
Pack and Containers 6% 6% 5% ‐
Laminating Flooring 55% 12% 10% 4%
Source: ABIPA – Brazilian Hardboard Industry Association
Others 16% 18% 5% 1%
Total 100% 100% 100% 100%
Others 3% 17% 5% 2%
Total 100% 100% 100% 100%
5
Eucatex Sales Volume
2005 100 b H db d2005 – 100  base Hardboard
131 +28%
16%
102  99 
115 
+16%
3T06 3T07 9M06 9M073Q073Q06 9M079M06
6
Paint Market
Eucatex Paint Sales
100 b 2005
Estimatted Paint Demand
(annual)  
+9%GalonsMM +9%GalonsMM +9%GalonsMM +9%GalonsMM +9%GalonsMM +9%GalonsMM +9%GalonsMM +9%GalonsMMGalons MM
Estimated paint consumption
209 
198 
+49%
+52%
100 base - 2005+9%+9%+9%+9%+9%+9%+9%+9%Galons MM
140 
130 
206 
212 
226 
3T06 3T07 9M06 9M073Q073Q06
2005 2006 2007
Source: ABRAFATI – Brazilian Paint Manufacturers Association
7
Laminate Flooring Market
Eucatex’s Sales of Laminate FlooringEucatex s Sales of Laminate Flooring
139 
160  11%
+20%m2 000
Consumo aparente de Pisos Laminados
(jan. a set)
Estimated consumption of Laminate Flooring
125 
114 
124 
80
100 
120 
140  9%
20
40 
60 
80 
4.320 
4.669 
5.186  ‐
20 
3T06 3T07 9M06 9M07
2005 2006 2007
8
ABIPLAR - Brazilian Laminate Flooring Association
Financial Highlights
Quarter Highlights R$ MM 3Q07 3Q06 Var % 9M07 9M06 Var %
N R 154 1 139 3 10 7% 459 1 418 3 9 8%Net Revenue 154.1        139.3     10.7% 459.1      418.3      9.8%
COGS (106.2)       (99.4)      6.9% (315.3)    (295.4)    6.8%
Gross Income 47.9           39.9       20.1% 143.8      122.9      17.0%
Gross Margin(%) 31.1% 28.7% +2.4 p.p. 31.3% 29.4% +1.9 p.p.
Operating (Loss) Income (57 9) (59 2) 2 1% (171 2) (172 2) 0 5%(32 5) (44 2) 26 4% (99 4) (116 6) 14 8%Operating  (Loss) Income (57.9)         (59.2)      ‐2.1% (171.2)    (172.2)    ‐0.5%
EBITDA 25.3          9.5         165.8% 75.8        47.1        60.9%
EBITDA Margin (%) 16.4% 6.8% +9.6 p.p. 16.5% 11.3% +5.3 p.p.
Financial Net (Loss) Income  5.9             (27.9)      n.m. (2.2)        (65.5)      ‐96.6%
Net Income 21.4 (32.1) n.m. 42.1 (59.2) n.m.
(32,5) (44,2) ‐26,4% (99,4) (116,6) ‐14,8%
562
Gross Revenue LTM* (R$ MM)
Net Income 21.4          (32.1)      n.m. 42.1        (59.2)      n.m.
76 
507  507 
562 
53 
40 
47 
10 8%
13,5%
486 
10,8%
8,0%
9,3%
* LTM = Last 12 months
9
9M04 9M05 9M06 9M079M04 9M05 9M06 9M07
EBITDA Margem EBITDAEBITDA Margin
Investments ‐ Capex
» 2 new MDP finishing lines: a» 2 new MDP finishing lines: a
low‐pressure laminate (LPL)
line and a high‐gloss finish foil
(FF) line
CAPEX R$ MM
85 4
+21%
(FF) line.
» Conclusion of the wood
70.8 
85.4 
+38%
recycling project
Pl i f 4 400 h f
25.9 
35.8 
» Planting of 4,400 hectares of
new forests. 3Q06 3Q07 9M06 9M07
10
Financial Restructuring
On September 19, 2007, Eucatex successfully ratified the results of its judicial
recovery plan presented at the general meeting held in October 2006 that consisted
of:
a) Payment in kind of lands and forests, without impacting the sustainability of the forestry
business;business;
b) Debentures convertible into capital;
c) Payment in cash, and
d) Lengthening of the remaining debt to up to 10 years
Indebtness (R$ MM) 3Q07  3Q06 
Short Term Debt 31 6 366 1Short Term Debt 31.6 366.1 
Long Term Debt 71.5  0.1 
Gross Debt 103.1  366.1 
Cash and Cash Equivalent 4.5  5.7 
Net Cash Debt 98.7 360.4 
% Short Term Debt 32% 102%
Net Cash (Debt)/ EBITDA 1.0  6.0 
11
Capital Market
Evolução EUCA4
10,0 
EUCA4 Evolution
7,0 
8,0 
9,0 
07/nov
4,0 
5,0 
6,0 
321%
Comparativo EV/EBITDA*
16.3 x1,0 
2,0 
3,0 
EV/EBITDA ratio*
5.5x 
13.0 x‐
28/dez 28/jan 28/fev 28/mar 28/abr 28/mai 28/jun 28/jul 28/ago 28/set 28/out
* Eucatex 3Q07 book value data. Duratex and Satipel  2Q07 book value data. 
Quotation on 11/07/07
12
Eucatex Duratex Satipel
Why Eucatex?
» Boom of the real estate and construction markets in Brasil;» Boom of the real estate and construction markets in Brasil;
» Local demand for MDP should reach annual growth rates from 6% to 
10% in the next 5 years;10% in the next 5 years;
» Creditors approved the Company’s recovery plan  and it  successfully  
l d i i l icompleted its capital reestructuring;
» Upside potential
» Company prepared to focus on its operational growth;
» Raw material sustainability guaranteed by the Company’s large 
forest areas.
13
IR Contacts
» José Antonio G de Carvalho» José Antonio G. de Carvalho
Executive Vice‐President and Investor Relations Officer
» Phone: +55 11 3049 2361» Phone: +55 11 3049‐2361 
Fax: +55 11 3049‐2215
» E mail: ri@eucatex com br» E‐mail: ri@eucatex.com.br
» Website: www.eucatex.com.br/ir
14

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Presentations

  • 1. Disclaimer Thi t ti i l d f d l ki t t t th t bj t t• This presentation includes forward‐looking statements that are subject to  risks and uncertainties based on the beliefs and assumptions of the  Company’s management, and on information currently available to the  Company.  • Forward‐looking statements are not guarantees of performance. They  involve risks, uncertainties and assumptions because they relate to futureinvolve risks, uncertainties and assumptions because they relate to future  events and therefore depend on circumstances that may or may not occur.  • Investors should understand that overall economic conditions, industry  diti d th ti f t ff t th ’ f tconditions and other operating factors may affect the company’s future  results and may lead to results that differ materially from those expressed  in such forward‐looking statements. 2
  • 2. Agenda 3rd Q t Hi hli ht» 3rd Quarter Highlights » MDP, MDF, Laminate Flooring and Paints g » Operating Performance » Financial Performance Fi i l R t t i» Financial Reestructuring » Capital Marketp » Why Eucatex? 3
  • 3. 3rd Quarter Highlights  » Sales growth in all lines of Eucatex’s products» Sales growth in all lines of Eucatex s products  Growth of the real estate sector and favorable macroeconomic moment Good sales performance in the paint segment – 52% growth in the 9M07 » Substantially improved financial results Gross revenue moved up by 15 2% to R$ 193 4 million in the 3Q07Gross revenue moved up by 15.2%, to R$ 193.4 million in the 3Q07 EBITDA increased by 165.8%, to R$ 25.3 million, accompanied by an EBITDA margin of 16.4% (+9.6 p.p.) Turnaround from  a loss of R$32 million loss to net income of R$ 21,4 million  YTD net income totaled R$42.1 million, with 9.2% net margin » Successful completion of the capital restructuring Eucatex is prepared for a new growth cycle 4
  • 4. MDP and MDF Demand MDP Consumption (Growth 2006 x 2007 = 20%) MDF Consumption (Growth 2006 x 2007 = 43%) (9M07)m3 1.400.000 1.600.000 1.800.000 2.000.000 m3 ( ) +20 % (Growth 2006 x 2007 20%) (9M07)m3 1.400.000 1.600.000 1.800.000 2.000.000 +43 % (9M07) 1.400.000 1.600.000 1.800.000 2.000.000 m3 m3 1.569.565 1.577.741 1.888.627 400 000 600.000 800.000 1.000.000 1.200.000 040.213 1.318.728 1.518.654 400 000 600.000 800.000 1.000.000 1.200.000 400 000 600.000 800.000 1.000.000 1.200.000 - 200.000 400.000 2.005 2.006 2.007 1.0 - 200.000 400.000 2.005 2.006 2.007 - 200.000 400.000 Use of MDP 2006       (%) Germany USA China Brazil Furniture 53% 27% 95% 89% Use of MDF 2006        (%) Germany USA China Brazil Furniture 25% 19% 65% 55% Construction 11% 46% 15% 39% Construction 31% 55% ‐ 8% Laminating Flooring ‐ ‐ ‐ 2% Construction 11% 46% 15% 39% Pack and Containers 6% 6% 5% ‐ Laminating Flooring 55% 12% 10% 4% Source: ABIPA – Brazilian Hardboard Industry Association Others 16% 18% 5% 1% Total 100% 100% 100% 100% Others 3% 17% 5% 2% Total 100% 100% 100% 100% 5
  • 5. Eucatex Sales Volume 2005 100 b H db d2005 – 100  base Hardboard 131 +28% 16% 102  99  115  +16% 3T06 3T07 9M06 9M073Q073Q06 9M079M06 6
  • 6. Paint Market Eucatex Paint Sales 100 b 2005 Estimatted Paint Demand (annual)   +9%GalonsMM +9%GalonsMM +9%GalonsMM +9%GalonsMM +9%GalonsMM +9%GalonsMM +9%GalonsMM +9%GalonsMMGalons MM Estimated paint consumption 209  198  +49% +52% 100 base - 2005+9%+9%+9%+9%+9%+9%+9%+9%Galons MM 140  130  206  212  226  3T06 3T07 9M06 9M073Q073Q06 2005 2006 2007 Source: ABRAFATI – Brazilian Paint Manufacturers Association 7
  • 7. Laminate Flooring Market Eucatex’s Sales of Laminate FlooringEucatex s Sales of Laminate Flooring 139  160  11% +20%m2 000 Consumo aparente de Pisos Laminados (jan. a set) Estimated consumption of Laminate Flooring 125  114  124  80 100  120  140  9% 20 40  60  80  4.320  4.669  5.186  ‐ 20  3T06 3T07 9M06 9M07 2005 2006 2007 8 ABIPLAR - Brazilian Laminate Flooring Association
  • 8. Financial Highlights Quarter Highlights R$ MM 3Q07 3Q06 Var % 9M07 9M06 Var % N R 154 1 139 3 10 7% 459 1 418 3 9 8%Net Revenue 154.1        139.3     10.7% 459.1      418.3      9.8% COGS (106.2)       (99.4)      6.9% (315.3)    (295.4)    6.8% Gross Income 47.9           39.9       20.1% 143.8      122.9      17.0% Gross Margin(%) 31.1% 28.7% +2.4 p.p. 31.3% 29.4% +1.9 p.p. Operating (Loss) Income (57 9) (59 2) 2 1% (171 2) (172 2) 0 5%(32 5) (44 2) 26 4% (99 4) (116 6) 14 8%Operating  (Loss) Income (57.9)         (59.2)      ‐2.1% (171.2)    (172.2)    ‐0.5% EBITDA 25.3          9.5         165.8% 75.8        47.1        60.9% EBITDA Margin (%) 16.4% 6.8% +9.6 p.p. 16.5% 11.3% +5.3 p.p. Financial Net (Loss) Income  5.9             (27.9)      n.m. (2.2)        (65.5)      ‐96.6% Net Income 21.4 (32.1) n.m. 42.1 (59.2) n.m. (32,5) (44,2) ‐26,4% (99,4) (116,6) ‐14,8% 562 Gross Revenue LTM* (R$ MM) Net Income 21.4          (32.1)      n.m. 42.1        (59.2)      n.m. 76  507  507  562  53  40  47  10 8% 13,5% 486  10,8% 8,0% 9,3% * LTM = Last 12 months 9 9M04 9M05 9M06 9M079M04 9M05 9M06 9M07 EBITDA Margem EBITDAEBITDA Margin
  • 9. Investments ‐ Capex » 2 new MDP finishing lines: a» 2 new MDP finishing lines: a low‐pressure laminate (LPL) line and a high‐gloss finish foil (FF) line CAPEX R$ MM 85 4 +21% (FF) line. » Conclusion of the wood 70.8  85.4  +38% recycling project Pl i f 4 400 h f 25.9  35.8  » Planting of 4,400 hectares of new forests. 3Q06 3Q07 9M06 9M07 10
  • 10. Financial Restructuring On September 19, 2007, Eucatex successfully ratified the results of its judicial recovery plan presented at the general meeting held in October 2006 that consisted of: a) Payment in kind of lands and forests, without impacting the sustainability of the forestry business;business; b) Debentures convertible into capital; c) Payment in cash, and d) Lengthening of the remaining debt to up to 10 years Indebtness (R$ MM) 3Q07  3Q06  Short Term Debt 31 6 366 1Short Term Debt 31.6 366.1  Long Term Debt 71.5  0.1  Gross Debt 103.1  366.1  Cash and Cash Equivalent 4.5  5.7  Net Cash Debt 98.7 360.4  % Short Term Debt 32% 102% Net Cash (Debt)/ EBITDA 1.0  6.0  11
  • 11. Capital Market Evolução EUCA4 10,0  EUCA4 Evolution 7,0  8,0  9,0  07/nov 4,0  5,0  6,0  321% Comparativo EV/EBITDA* 16.3 x1,0  2,0  3,0  EV/EBITDA ratio* 5.5x  13.0 x‐ 28/dez 28/jan 28/fev 28/mar 28/abr 28/mai 28/jun 28/jul 28/ago 28/set 28/out * Eucatex 3Q07 book value data. Duratex and Satipel  2Q07 book value data.  Quotation on 11/07/07 12 Eucatex Duratex Satipel
  • 12. Why Eucatex? » Boom of the real estate and construction markets in Brasil;» Boom of the real estate and construction markets in Brasil; » Local demand for MDP should reach annual growth rates from 6% to  10% in the next 5 years;10% in the next 5 years; » Creditors approved the Company’s recovery plan  and it  successfully   l d i i l icompleted its capital reestructuring; » Upside potential » Company prepared to focus on its operational growth; » Raw material sustainability guaranteed by the Company’s large  forest areas. 13
  • 13. IR Contacts » José Antonio G de Carvalho» José Antonio G. de Carvalho Executive Vice‐President and Investor Relations Officer » Phone: +55 11 3049 2361» Phone: +55 11 3049‐2361  Fax: +55 11 3049‐2215 » E mail: ri@eucatex com br» E‐mail: ri@eucatex.com.br » Website: www.eucatex.com.br/ir 14