Institutional Presentation September 2015

8/20/2019 Institutional Presentation September 2015

1/34

INSTITUTIONAL PRESENTATIONSEPTEMBER, 2015

KLBN11


2/34

DI

The statements contained in this presentation related to the business outlook, operating and financial projections, a

Klabin S.A. are merely projections, and as such are based exclusively on the expectations of the Company’s mana

future of the business.

These forward-looking statements depend substantially on the market conditions, the performance of the Brazilian

and international markets, and therefore are subject to change without prior notice.

This presentation on Klabin’s performance includes non-accounting and accounting data, such as operating and f

well as projections based on Management’s expectations. Note that the non-accounting data has not been revie

independent auditors.

The Company’s management believes EBITDA may provide useful information on the Company’s operating per

comparisons with other companies in the same industry. Note however that EBITDA is not a measure establish

generally accepted accounting principles of the International Financial Reporting Standards – IFRS, and may be

differently by other companies.


3/34

CONSISTENTGROWTH


4/34

KLABI2 MILLION TONNES OF PAPER AND PACKAGIN

tsd hec

Total lands

Planted area

Pine Eucaliptus

Native forests

tsd ton

Total capacity

Coated boards

Kraftliner Sack kraft

Recycled

tsd ton

Total capacity

Corrugated boxes

Industrial bags

Forestry

Papers

Conversion


5/34

FLEXIBLE PRODLEADER IN ALL SEGMENTS IN BRAZIL AND LINKED TO RESIL

INDUSTRIAL BAGS CORRUGATED BOXESmarket share

16%

sole supplier of liquid packagingboard in Latin America

40%

installed capacityCOATED BOARDS

50%

market shareKRAFTLINER SALES VOLUME DESPAPER AND PA

67%DOMESTIC

33%EXPORTS

50%

market shareFLEXIBILITY AND RES


6/34

a d j u s t

e d E B I T D A

L T M -

R $ m i l l i o n

JUN 2015JUN 2011

KLABICONSISTENT PE

COST CUTTING

PROGRAM

MIX AND PRICE

IMPROVEMENT

SALES VOLUME

BEST FORESTRY

FLEXIBLE PROD

PERFORMANCE

INDUSTRIAL EFF

922

181291541

258


7/34

PUMA


8/34

PRODUC

270of EN

SELF SU

120 MWFOR PUMA

USE

ANNUAL PRODUCTIONCAPACITY

1.5 MILLIONTONNES OF PULP

LOW OPERATIONCOST

1.1 MILLIONTONNES OFSHORT FIBER

400 THOUSANDTONNES OFLONG FIBERPART CONVERTED TO FLUFF

PUMA


9/34

46%

national equipments andmaterials

14%

importedequipments

14%

engineeringand otherservices

27%

civil construction and

assembly

INDU

FULL

INDUS


10/34

72 Kmforestry average

distance

PULP MILLFORESTS

441 Kmrailway to the port

INBOUND OUTBOUND

PUMA LO


11/34

5milliontonnes

PUMA

FOBUS$/TONNE

200

350

10milliontonnes

15milliontonnes

20milliontonnes

Source: Hawkins Wright – April 2015

25milliontonnes

30milliontonnes

PUMA COMPETIT

312


12/34

5milliontonnes

PUMA

FOBUS$/TONNE

337

4454

10milliontonnes

15milliontonnes

20milliontonnes

Source: Hawkins Wright – April 2015

25milliotonne

PUMA COMPETIT

418


13/34

PAPER

MACHINE 1

PUMA

PROJECT

CONSISTENT RESULTS

GROWTH PERSPEC

PREPARED TO GROW

JUN 2 15

UN 2 11

PAPER

MACHINE 11

C

a d j u s t e d E B I T D A

L T M -

R $ m

i l l i o n


14/34

EARNINGS2Q15


15/34

HIG

SALES VOLUMEexcluding wood – tsd tonnes

71%

29%419

2Q14

68%

32%435

2Q15

NET REVENUER$ million

78%

22%1,151

2Q14

72%

28%1,338

2Q15

exportsdomesticmarket

ADJU

334

2Q14


16/34

KRAFTLINER (3)

RECYCLED (2)

KRAFTLINER AND COATEDBOARDS (1)

KRAF

41%

59%

33%

67%

2Q14

86thousand

tonnes

2Q15

98 thousand

tonnesR$

2

PAPERBUSINESS UNIT

COATEDBOARDS

58%

42%

59%

41%

2Q14

149thousand

tonnes

2Q15

156thousand

tonnes 377R$ million

457R$ million

2Q14 2Q15

exports domesticmarket


17/34

CORRUGATED BOXES (7)

INDUSTRIAL BAGS (3)

CORRUGATED BOXES ANDINDUSTRIAL BAGS (1)

2Q14

178thousand

tonnes534R$ million

551R$ million

2Q14 2Q15

CONVERSIONMARKET POSITION

+


18/34

CA

2,017R$/tonne

2Q14

2,193R$/tonne

2Q15*

*Excluding non-recurring itens from other operating revenues andexpenses

W

Chemicals

13%

Freight

11%

Fuel Oil

3%

Maintenance

materials /

stoppage

14%

Electricity

7%

Others

6%

CASH COSTBREAKDOWN – 2Q

UNITCASH COST


19/34

N

2 , 6

7 4

3 , 0

1 4

3 , 0

9 0

3 , 2

7

8

3 , 1

3 6 3 , 4

3 7

3 , 5

9 5

3

, 9 8 5

2 , 7

1 1

2 , 8

2 4 4

, 0 2 8

5 , 2

4 2

7 , 4

4 0

2.32.5 2.4 2.5

2.22.4 2.4

2.6

1.7 1.7

2.4

3.0

4.2

-

2,000

4,000

6,000

8,000

10,000

M a r - 1 2

J u n - 1 2

S e p - 1 2

D e c - 1 2

M a r - 1 3

J u n - 1 3

S e p - 1 3

D e c - 1 3

M a r - 1 4

J u n - 1 4

S e p - 1 4

D e c - 1 4

M a r - 1 5

Net Debt (R$ million) Net Debt / EBITDA (LTM)

in 06/30/15

Gross Debt R$ 13.3 billion

Cash R$ 5.2 billion

Net Debt R$ 8.1 billion


20/34

NET DE

1 . 4

6 8

1 . 4 9 1

1 . 5 2 2

1

. 6 0 4

1 . 5

5 7

1 . 5

5 1

1

. 6 1 2

1 . 7

0 1

1 . 1

9 8 1 . 2 8

2

1

. 6 4 3

1 . 9

7 3

2 3 1 9

2,2 2,2 2,2 2,3 2,2 2,2 2,3 2,4

1,7 1,82,3

2,73

-

500

1.000

1.500

2.000

2.500

3.000

3.500

4.000

4.500

5.000

M a r - 1 2

J u n - 1 2

S e p - 1 2

D e c - 1 2

M a r - 1 3

J u n - 1 3

S e p - 1 3

D e c - 1 3

M a r - 1 4

J u n - 1 4

S e p - 1 4

D e c - 1 4

M a r 1 5

Net debt (US$ million) Net debt/Ebitda


21/34

maintenance

CAPEXR$ million 2011

3T14296

special projects and growth 159

vale do corisco 428

PUMA project -

total 883

2012

3T14390

264

-

-

654

2013

3T14369

431

-

99

899

2014

3T14384

319

-

2,242

2,945

201

3T135

38

-

3,43

4,1


22/34

Investor Relationswww.klabin.com.br/[email protected]: +55 (11) 3046-8401


23/34

APPENDIXPUMA MARKET

FINANCIAL FIGURES


24/34

PUMAPULP MARKET

PULP


25/34

PULP

long fib

PUDIS

Source: Hawkins Wright; RISI

52.6million tonnes

market pulp

112million tonnes

integrated pulp

164mm t

VIRGINFIBERPULP

PUMA 6th LARGEST PU


26/34

PUMA: 6th LARGEST PU

LARGEST MARKET PULP MILLS OF THE WORLD

Fibria Aracruz 2,340

April Riau 2,200

April Rizhao 1,700

Eldorado 1,500

CMPC Guaíba 1,690

Suzano Mucuri 1,565

Klabin 1,500

Suzano Maranhão 1,500

Source: Hawkins Wright

28.6short fiber 5

17.5

eucalyptus

WORLD DEMANmillion tonnes per year in 2

Montes del Plata1,300

million tonnes per year in 2014

4th LARGEST I


27/34

4th LARGEST I

Source: Hawkins Wright

WORLD CAPACITY OF FLUFFthousand tonnes per year in 2014

GP2,296

Weyco

1,420

IP1,045

PumaKlabin

400

Domtar334

Resolute290

Stora 255

Arauco250

Rock Tenn170

Rayonier110

UPM100

mills

converted influff mills

the only designed to producefluff from the start

fibra longaflS

WORLD DEMAmillion tonnes per year

23,7

SBSK = pinus long fiber from U

FOCUS ON CONSUMER M


28/34

FOCUS ON CONSUMER M

Source: RISI, Euromonitor

96%USA

50%BRA

72% ARG

MARKET PENETRATION INDISPOSABLE DIAPERS2013

high potential ofgrowth

SOPHISTICATION AND IN

HIGHER VALUE ADDE

BRAZIL IS THE 3RD LARGEST M


29/34

BRAZIL IS THE 3RD LARGEST MOF DISPOSABLE DIAPERS IN T

3.4

2009

4.0

2010

4.6

2011

4.8

2012

SA

Source: Euromonitor

0.4

2009

0.5

2010

0.7

2011

0.8

2012

0.9

2013

1.1

2014

SALES OF DIAPERS

FOR ADULTSR$ billion

COMPOSITION OF D


30/34

COMPOSITION OF D

30% TO 50% OF THE AVERAGE WEIGHTOF A DIAPER IS COMPOSED OF FLUFF (20 TO 40G)

SPREADS AMONG DIFFERENT


31/34

SPREADS AMONG DIFFERENT

jul13

aug13

sep13

oct13

nov13

dec13

jan14

feb14

mar14

apr14

may14

jun14

jul14

aug14

sep14

long fiber x short fiber

fluff x short fiber

Source: RISI, FOEX

CIF EUROPEUS$/TONNE

oct14

nov14

dez14

ja1

INCOME ST


32/34

INCOME ST

numbers in thousand R$

∆ ∆

2Q15/1Q15 2Q15/2Q14Gross Revenue 1,593,961 1,555,081 1,399,323 3% 14% 3,149,042

Net Revenue 1,337,936 1,308,449 1,151,093 2% 16% 2,646,385

Change in fair value - biological assets 155,230 55,538 129,604 180% 20% 210,768

Cost of Products Sold (1,058,415) (930,067) (941,718) 14% 12% (1,988,482)

Gross Profit 434,751 433,920 338,979 0% 28% 868,671

Selling Expenses (105,594) (94,461) (87,474) 12% 21% (200,055)

General & Administrative Expenses (82,927) (74,964) (72,882) 11% 14% (157,891)

Other Revenues (Expenses) (9,912) (6,033) 17,459 64% N/A (15,945)

Total Operating Expenses (198,433) (175,458) (142,897) 13% 39% (373,891)

Operating Income (before Fin. Results) 236,318 258,462 196,082 - 9% 21% 494,780

Equity pickup 5,804 7,535 5,807 -23% 0% 13,339

Financial Expenses (163,412) (215,714) (97,103) -24% 68% (379,126)

Financial Revenues 125,770 118,846 133,008 6% -5% 244,616

Net Foreign Exchange Losses 239,104 (1,287,743) 101,614 -119% 135% (1,048,639)

Net Financial Revenues 201,462 (1,384,611) 137,519 N/A 46% (1,183,149)

Net Income before Taxes 443,584 (1,118,614) 339,408 N/A 31% (675,030)

Income Tax and Soc. Contrib. (147,988) 390,048 (95,890) N/A 54% 242,060

Net income 295,596 (728,566) 243,518 N/A 21% (432,970)

Depreciation and amortization 293,985 250,316 257,832 17% 14% 544,301

Cost of carrying out assigned to property - land 7,453 - - N/A N/A 7,453

Change in fair value of biological assets (155,230) (55,538) (129,604) 180% 20% (210,768)

Vale do Corisco 8,719 8,167 9,550 7% -9% 16,886

Adjusted EBITDA 391,245 461,407 333,860 -15% 17% 852,652

(R$ thousands) 2Q15 1Q15 2Q14 6M15

BALANC


33/34

BALANC

numbers in thousand R$

Current Assets 7,802,555 7,992,082 Current Liabilities

Cash and banks 39,881 41,968 Loans and financing

Short-term investments 4,678,747 5,027,182 Debentures

Securities 521,209 505,934 Suppliers

Receivables 1,240,197 1,273,769 Income tax and social contribution

Inventories 607,449 599,794 Taxes payable

Recoverble taxes and contributions 579,025 429,433 Salaries and payroll charges

Other receivables 136,047 114,002 Dividends to pay

REFIS Adherence

Noncurrent Assets 15,342,872 14,282,475 Other accounts payable

Long term

Taxes to compensate 913,338 678,504 Noncurrent Liabilities

Judicial Deposits 84,426 84,879 Loans and financing

Other receivables 201,959 241,304 Debentures

Other investments 504,635 502,283 Deferred income tax and social contribution

Property, plant & equipment, net 10,096,021 9,194,472 Other accounts payable - Investors SCPs

Biological assets 3,531,080 3,568,934 REFIS Adherence

Intangible assets 11,413 12,099 Other accounts payable

Stockholderś Equity

Capital

Capit al res erve

Revaluation reserve

Profit reserve

Valuation adjustments to shareholders'equity

Treasury stock

Total 23,145,427 22,274,557 Total

Assets jun-15 mar-15 Liabilities and Stockholders' Equity

LOAN MATURITY S


34/34

LOAN MATURITY S

numbers in R$ million

Local currency : R$ 5.2 billion

Average tenor: 40 monthsForeign currency: R$ 8.1 billion

Average tenor : 54 months

L

C5

R$ million

479

187

666

793

640718

477

944

389

268217

132-

261

176

436

674

1,1731,162

1,088

977

577

318

117

1,612

5

740

363

1,103

1,467

1,8131,880

1,565

1,920

966

586

335

1,744

3Q15 4Q15 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Date post:	07-Aug-2018
Category:	Documents
Upload:	klabinri
View:	215 times
Download:	0 times

Institutional Presentation September 2015

Documents