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3Q10 Results
November 12th, 2010
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Highlights
Slide 2
Sales volume excluding wood: + 17% over 9M09;
Net revenue: + 27% over 9M09;
Operating cash flow (or EBITDA): + 38% over 9M09;
Net debt: - 27% (or R$ 570 million reduction) comparedto December 2009;
Net Debt/EBITDA ratio fell to 2.2x in September 2010,
down from 3.7x in December 2009 and 5.3x on March 2009.
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Sales volume
Slide 3
* Excluding wood volume.
Note: Some figures in this table may not express an accurate result due to rounding.
269 301 308
700
878
165 129 128
409
421
433 430 436
1,299
1,109
1Q10 2Q10 3Q10 9M09 9M10
Domestic Market Exports
17%
3%
25%
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Net revenue
Slide 4
* Including wood.
Note: Some figures in this table may not express an accurate result due to rounding.
630 712779
215193
204
539
612
844 905 983 2,120
1,616
2,732
2,155
1Q10 2Q10 3Q10 9M09 9M10
Domestic Market Exports Total
27%
14%
31%
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Kraftliner prices
Slide 5
KraftlinerBrown 175 g/m List Price
(/tonne and R$/tonne)
1,3931,344
1,302
1,217
1,459
1,392
1,162
1,029 1,0381,079 1,089
1,207
385 404433
533478
411462
486
487
501516524
529
1,356
3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10
Quarter average Kraftliner ( / tonne) Kraftliner (R$ / tonne)Source: FOEX and BACEN
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Unitary cash cost (R$/tonne)
Slide 6
751 802
409
449
333287
9M09 9M10
Variable costs Fixed Costs SG&A
+3%
1.493 1.538
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EBITDA and net income
Slide 7
EBITDA EBITDA Margin Net income (loss)
199219
242 236252
27% 27%29%
26% 26%
0
50
100
150
200
250
300
3Q09 4Q09 1Q10 2Q10 3Q10
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
125
(223)
67
226
42
-250
-200
-150
-100
-50
0
50
100
150
200
250
3T09 4T09 1T10 2T10 3T10
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Working Capital (R$ million)
Slide 8 Reduction in working capital requirements of R$ 210 million in 9M10.
782
573
1,013
1,1741,108
714 680
16%
21%23%
26%
37%34%
38%
0100
200
300
400
500
600
700800
900
1.000
1.100
1.200
1.300
1.4001.500
1.600
1.700
1.800
1.900
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10
-10%
0%
10%
20%
30%
40%
Operating Working Capital (OWC) OWC / Net Revenue
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Cash and indebtedness
Slide 9
Short term 695 14% 802 17%
Local currency 329 7% 492 10%
Foreign currency 366 8% 310 7%
Long term 4,142 86% 3,926 83%
Local currency 1,671 35% 1,683 36%
Foreign currency 2,471 51% 2,243 47%
Gross debt 4,837 100% 4,728 100%
Local currency total 2,000 41% 2,175 46%
Foreign currency total 2,837 59% 2,553 54%
Cash 2,731 2,052
Net debt 2,106 2,676
Net debt / EBITDA (LTM) 2.2 x 3.6 x
LTM - last twelve months
12/31/09Debt (R$ million) 09/30/10 Net Debt
(R$ million)
2,106
3,7
86
3,192
2,886
2,676
2,528
2,462
5.3
4.43.7 3.6
3.12.8
2.2
-500
500
1500
2500
3500
4500
5500
Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 -2-1
-1
-0
0.
0.
1.
1.
2.2.
3.
3.4.
4.
5.
5.
6.
Net Debt
Net Debt / EBITDA (LTM)
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Strategy
Slide 9
Investment in amount of R$ 100 million in the corrugated boxes
conversion mills;
New biomass boiler installation in Correia Pinto to replace the current
fuel oil consumption;
Investments planned for 2010 total approximately R$ 350 million;
Focus in rapid return investments and in reduction of Net Debt /
EBITDA Ratio, preparing the Company for the capex that will take place in
2015/16;
Studies for installation of a new pulp line with capacity of between 1.3
and 1.5 million t/year and a coated board machine with capacity of
between 400,000 and 500,000 t/year.
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Investor relations:
Phone: (+55 11) 3046-8404 / 8415 / 8416
www.klabin.com.br
