Context: How Bolsa Mexicana de Valores works, and what it makes issuers disclose · Mexico on the LatAm Power Map
Proteak planted teak trees in Mexico when nobody else was doing it at industrial scale. Two decades on, the dream survives — but the company is burning cash at a rate that makes every passing quarter a test of endurance.
| Full name | Proteak Uno, S.A.B. de C.V. |
|---|---|
| Ticker / exchange | TEAKCPO — Bolsa Mexicana de Valores (BMV) |
| Headquarters | Av. Paseo de la Reforma 540, Mexico City, Mexico |
| Sector | Basic Materials — Lumber & Wood Production |
| Employees | 366 |
| Market value (market cap) | MXN 171.4M (~USD 9.9M) (our calculation) |
| Yearly sales — TTM (revenue) | MXN 482.9M (~USD 27.8M) |
| Net profit — FY2025 | MXN –446.6M (~USD –25.7M) |
| Net margin — TTM | –80.1% |
| Return on equity | –19.3% |
| Price-to-earnings (P/E) | N/A (company is loss-making) |
| Dividend yield | None |
| Website | proteak.com |
What it is
Proteak was founded by Héctor Eduardo Bonilla Castañeda on 11 September 2001, with the idea of growing teak — a dense tropical hardwood prized in Asia for furniture, decking, and boat-building — on a commercial plantation scale in Mexico.
It runs three business lines: teak plantations along Mexico’s Pacific coast and in Colombia, the marketing of semi-processed and roundwood timber, and a range of finished teak products including cutting boards, lumber, and flooring. Proteak owns around 18,000 planted hectares in total and operates across five countries, exporting on three continents.
A second arm, the Panel Division Tecnotabla, manages eucalyptus plantations and the trading of medium-density fibreboard (MDF — the flat-panel board used in most flat-pack furniture) in Mexico and the United States. The company has been listed on the Mexican Stock Exchange since 2010.
Who owns it
No single shareholder controls the board: the largest shareholding group controls less than 20% of the capital. The board currently has 7 members, 6 of whom are independent, and meets four times a year.
Institutional investors hold roughly 64.6% of shares, per the structured data, with zero reported insider ownership — an unusual combination that leaves the company without a clear controlling anchor. Named individual shareholders and exact ownership percentages are not disclosed in available public sources.
Who runs it
César Arturo Vélez Pongutá, who served as Finance Director from 2019, was appointed CEO by the board of directors. He is an economist by training with an MBA from IPADE Business School.
Under his leadership, Proteak restructured its main liabilities and found new financing channels. The current CFO is not disclosed in available public sources.
The money, in plain words
Revenue has collapsed by nearly half in two years — from MXN 1,395.8M (~USD 80.4M) in 2023 to MXN 710.4M (~USD 40.9M) in 2025, a fall of 49.1% (our calculation). The trailing-twelve-month figure of MXN 482.9M (~USD 27.8M) points to further deterioration.
The company loses more than it earns on every peso of sales — a net margin of –80.1% on the trailing twelve months means that for every peso brought in, it lost 80 cents after all costs. The net loss in its most recent full year was MXN 446.6M (~USD 25.7M), deeper than the MXN 279.6M (~USD 16.1M) lost in 2023.
Owners’ capital has been eroded to MXN 1,686.2M (~USD 97.1M), yet the return on equity is –19.3%, meaning the company shrank, not grew, the value of every peso shareholders have put in. Total liabilities stand at MXN 3,478.2M (~USD 200.4M) against MXN 14.1M (~USD 0.8M) in cash on hand, leaving very little cushion (our calculation).
The market values the entire company at roughly MXN 171.4M (~USD 9.9M, our calculation) — a fraction of its MXN 5.2B (~USD 299M) in reported assets, reflecting deep investor scepticism. The share price hit an all-time low of MXN 0.046 (US$0.00)on 31 December 2025, down from its 2016 peak of MXN 22.
(US$1)
What it is doing now
The most significant recent management action has been restructuring the company’s main liabilities — an effort to buy time and reduce the cash drain from debt service. The relevant-events page on the company’s own site shows no major new disclosures beyond 2021, suggesting reduced investor-relations activity.
No sell-side analysts currently cover the stock, which limits price discovery and makes it harder for new investors to get independent research on the company’s prospects.
What to watch
- Liquidity runway. With only MXN 14.1M (~USD 0.8M) in cash and losses running deep, any further revenue drop or debt maturity could force a capital raise or asset sale.
- Revenue stabilisation. Three consecutive years of falling sales is the central threat; any sign of a floor — particularly in the MDF/Tecnotabla segment — would be a meaningful signal.
- Asset value versus market value. The gap between MXN 5.2 (US$0.30)B in reported assets and a MXN 171 (US$10)M market cap implies either the assets are overvalued on the books, or the company is drastically underpriced — resolving that question is the key analytical task.
- Shareholder base. With 64.6% held by institutions and no declared controlling owner, a distressed shareholder exit or a strategic buyer could move quickly.
Sources
- Proteak — Investor Relations page (corporate governance, shareholder structure)
- Proteak — Corporate Governance page (board composition)
- Proteak — Relevant Events page
- Tecnoempresa.mx — “Proteak nombra nuevo Director General” (CEO appointment, September 2022)
- TradingView — TEAK/CPO price history and company data
- MarketScreener — Proteak Uno company profile
- Market data: EODHD.
This is news, not investment advice.
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