Beruflich Dokumente
Kultur Dokumente
2Q16
KLBN11
DEZEMBRO DE 2015
KLBN11 / KLBAY
DISCLAIMER
The statements contained in this presentation related to the business outlook, operating and financial projections, and growth
prospects of Klabin S.A. are merely projections, and as such are based exclusively on the expectations of the Companys
management concerning the future of the business.
These forward-looking statements depend substantially on the market conditions, the performance of the Brazilian economy,
the industry and international markets, and therefore are subject to change without prior notice.
This presentation on Klabins performance includes non-accounting and accounting data, such as operating and financial
information, as well as projections based on Managements expectations. Note that the non-accounting data has not been
reviewed by the Companys independent auditors.
The Companys management believes EBITDA may provide useful information on the Companys operating performance and
allow for comparisons with other companies in the same industry. Note however that EBITDA is not a measure established in
accordance with generally accepted accounting principles of the International Financial Reporting Standards IFRS, and may be
defined and calculated differently by other companies.
FIBERS
489k hectares
1.1mi tpy
short fiber
0.4mi tpy
long fiber &
fluff pulp
PAPER
2.0 million tpy
PLANTED FORESTS
230k hectares
PINE
140k
hectares
EUCALYPTUS
90k
hectares
INTEGRATED
PULP
1.8mi tpy
RECYCLED FIBERS
* Installed capacity
COATED
BOARDS
750k
tpy
CONTAINERBOARDS
1.25mi tpy
CONVERSION
820 thousand tpy
CORRUGATED
BOXES
680k tpy
INDUSTRIAL
BAGS
170k tpy
STRUCTURAL COMPETIVENESS
HIGH PRODUCTIVITY ON FIBERS
Forestry
Pine
46
Eucalyptus
TSD HECTARES
OF HIGH YIELD FOREST
58
38
44
22
PLANTED AREA
230 TSD
m/ha/year
22
LOW AVERAGE
HAULING DISTANCE
PR with PUMA 66 Km
SC 74 Km
25
10
20
12
10
42
42
44
46
47
35
30
60
30
50
52
95-05
05-11
58
61
12-15
16-20
65
41
35
40
24
20
26
20
<69
70
50
31
m3cc/h/year
Eucalyptus
70-89 90-04
05
<73
74-85
85-95
21-25E
STRUCTURAL COMPETITIVENESS
462
Softwood
447
409
Hardwood
335
288
PUMA
272
174
FOB
US$/TONNES
million
tonnes
10
million
tonnes
15
million
tonnes
20
million
tonnes
25
million
tonnes
30
million
tonnes
ANNUAL
CAPACITY
STRUCTURAL COMPETIVENESS
LOW CASH COST POSITION
PM9
production cost
USD/tonnes
production
capacity
* Source: Poyry 4Q15, 1US$ = R$ 3,50
PM7
KRAFTLINER
COATED
BOARDS
Market Share*
Market Share
40%
50%
INDUSTRIAL
BAGS
CORRUGATED
Market Share
Market Share
50%
17%
MARKETS DESTINATION
13%
Other
consumer
goods
Building
8%
Food
67%
Others
PULP MARKETS
EUCALYPTUS PULP
BEKP IN BALES
PINE PULP
BSKP IN BALES
CONSISTENT PERFORMANCE
dec
14
mar
15
jun
15
sep dec
15 15
2,173
2.0
sep
14
1.8
jun
14
1.9
1,881
1.8
1,812
1.8
1,755
1,652
1.8
dec mar
13 14
1.8
sep
13
1.8
jun
13
1.8
1,562
1,504
1,452
1,602
1.8
dec mar
12
13
1.8
sep
12
1.7
jun
12
1.7
1,424
mar
12
1.7
1,351
1.7
1,286
1.7
1,180
1,089
1.7
sep dec
11 11
1.7
1.7 1,027
1.7 939
1,627
1,718
R$ million
1,975
2,026
mar jun
16
16
KLABIN
PAPER
MACHINE
10
R$ million
2,173
PAPER
MACHINE
11
PUMA
RAMP UP
PUMA START
922
jun2011
jun2016
CONSISTENT RESULTS
2021
FUTURE GROWTH
2Q16 RESULTS
NET REVENUE
R$ million
631
1.338
28%
50%
435
32%
68%
2Q15
ADJUSTED EBITDA
R$ million
1.699
40%
538
EXPORTS
50%
2Q16
72%
60%
391
DOMESTIC
MARKET
2Q15
2Q16
2Q15
2Q16
PAPER
BUSINESS UNIT
COATED BOARDS
SALES VOLUME
156
41%
NET REVENUE
159
42%
KRAFTLINER
SALES VOLUME
506
457
98
68%
R$
million
103
72%
58%
DOMESTIC
MARKET
2Q16
189
R$
million
EXPORTS
32%
2Q15
201
R$
million
R$
million
59%
NET REVENUE
2Q15
2Q16
2Q15
28%
2Q16
2Q15
2Q16
CONVERSION
BUSINESS UNIT
SALES VOLUME
NET REVENUE
177
589
172
tsd
tonnes
2Q15
tsd
tonnes
2Q16
551
R$
million
2Q15
R$
million
2Q16
PULP
NET REVENUE
181
286
90%
R$
million
EXPORTS
0
2Q15
10%
2Q16
DOMESTIC
MARKET
R$
million
2Q15
2Q16
CASH COST
2Q16
UNIT
CASH COST
CASH COST
BREAKDOWN
R$ per tonne
2Q16
2Q16
Electricity
8%
2,216
1,856
Others
Fuel Oil 5%
2%
Labor / third
parties
37%
Maintenance
materials /
stoppage
13%
Freight
11%
2Q15
2Q16
Chemicals
11%
3Wood /
Fibers
15%
CAPEX
CAPEX
2013
2014
2015
2016E
maintenance
369
384
455
567
231
319
129
95
99
2,242
4,053
1,753
899
2,945
4,627
2,415
R$ million
PUMA project
total
4.6 % p.y.
50 months
12.009
Dec-14
4.028
2.824
Jun-14
Sep-14
2.711
3.985
Dec-13
Mar-14
3.595
(1.000)
Sep-13
1.000
3.437
3.000
Jun-13
5.000
5.242
7.440
7.000
Mar-16
1,7
12.411
2,4
1,7
9.000
11.614
3,0
2,6
8.144
2,4
4,5
Dec-15
4,2
2,4
5,9
5,2
13.000
11.000
6,3
47 months
Sep-15
Gross Debt
6,2
11.382
40 months
Jun-16
10.2% p.y.
Jun-15
15.000
Local Currency
Mar-15
17.000
7,0
6,5
6,0
5,5
5,0
4,5
4,0
3,5
3,0
2,5
2,0
1,5
1,0
0,5
0,0
-0,5
-1,0
-1,5
-2,0
-2,5
-3,0
-3,5
-4,0
DEBT MATURITY
5,810
R$ million
2,744
1,554
R$ million
2,287
2,249
2,266
1,391
1,571
2,744
1,647
1,554
R$ million
2,287
2,249
2,266
1,391
1,571
1,647
2,096
2,139
1,569
1,895
2,096
1,510
1,569
1,189
932
575
358
Cash
position
237
121
358
575
237
121
429
146
429
932
666
146 266
3Q163Q164Q16 4Q16
2016
666
896
1,895
Foreign
Currency
12,024
1,510
1,106
1,189
678
896
678
2017
2018
619
2018
2019
770
619
526
526
266
2016
2017
1,106
2,139
2019
2020
2020
2021
404
2021
2022
343
Gross Debt
17,192
426
Local
Currency
5,168
2022
2023
343
244
Gross Debt
17,192
770
426
404
Foreign
Currency
12,024
200
198
1
244
2023
2024
2024
2025/26
Local
200
Currency
5,168198
2025/26
billionAverage tenor
Foreign
currency: R$ 12 billion
: 50 months
Average tenor: 40 months
Average tenor : 50 months
INVESTOR RELATIONS
www.klabin.com.br/ri
invest@klabin.com.br
+55 (11) 3046-8401
APPENDIX
PULP AND PAPER MARKETS
GLOBAL PULP
LONG FIBER
SHORT FIBER
CAGR +2%
CAGR +3%
28.9
30.0
31.0
32.3
33.2
34.1
35.0
23.7
24.3
24.7
25.0
2014
2015
2016
2017
25.4
26.2
26.2
2018
2019
2020
Latin America
North America
Asia/ Africa
Europe
China
2014
2015
2016
2017
2018
2019
2020
CHINA
FLUFF
R$ million
8.468
7.864
3.377
7.297
3.042
6.790
2.733
6.272
5.768
2.430
5.279
2.133
4.645 4.827
1.861
4.000
1.605
1.005
610
2009
1.183
9.139
3.398
1.363
788
2010
2011
Fonte: Euromonitor
2012 2013
2014
2015
2016
2017
2018
2019
2020
2009
2010
2011
2012 2013
2014
2015
2016
2017
2018
2019
2020
330
USD/TONNE
95
Jan/2013
Source: RISI
Jun/2013
Nov/2013
Apr/2014
Sep/2014
Feb/2015
Jul/2015
Dec/2015
May/2016
PACKAGING MARKETS
FOCUS IN
MARKETS
Tissue
KLABIN
Pulp
3%
Containerboards
KLABIN kraftliner and recycled paper
2%
Cartonboards
KLABIN coated boards
1%
Market B
0%
Market D
Market E
Sackpaper
KLABIN sack kraft and
industrial bags
-1%
-2%
Market C
-3% Market A
KLABIN MARKETS
-4%
0%
Source: POYRY
20%
40%
60%
80%
100%
COATED BOARDS
LOW VOLATILITY PRICES
1200
1100
1000
800
700
600
500
BHKP
NBSK
Coated Boards
2016
2015
2015
2014
2014
2014
2013
2013
2012
2012
2011
2011
2011
2010
2010
2009
2009
2009
2008
2008
2007
2007
2006
2006
2006
2005
2005
2004
2004
400
2004
US$/ton
900