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8/22/2019 Institutional Presentation 2Q13
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8/22/2019 Institutional Presentation 2Q13
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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.
DISCLAIMER
2
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.
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3
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eucalyptus and coated boards
wood logs
Domestic market
243 k ha 700 k t
2.5 m t
CAPACITY
4
pine orests
planted forests:
243 thousand hashort fiber andlong fiber pulp
old corrugatedcontainers
recycled paper corrugated boxes
industrial bags
kraftliner
Domestic andexport markets
Domestic market
250 k t
960 k t
1.7 m t
200 k t 540 k t
145 k t
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FORESTRY PRODUCTIVITYPARAN
Forestry
Cloning
38
5558
37
49
62
71
18
5
Growth
Density
Factory yield
Eucalyptus m3/(ha.year)
productivity
Tonnes of pulp/(ha.year)
MAI
2005
2012
20102000 20151995
810
9
1413
15
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Average haulingdistance
Klabin Pulp74 Km
FORESTRY LOGISTICS
6
Average haulingdistance
Monte Alegre
50 Km
Vale do Corisco
Klabin Pulp
Klabin SA
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Leader in the Brazilian packaging paper market, where we allocate more than
50% of our capacity
CoatedBoards
Kraftliner
MARKET POSITIONPAPER
7
67050%
marketshare
thousandtonnes sold
in 2012
387
40%installedcapacity
thousandtonnes sold
in 2012
Sole supplier of
liquid packaging boardin Latin America
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Leader in the Brazilian packaging market where we allocate more than 95% of
our capacity
IndustrialBags
CorrugatedBoxes
MARKET POSITIONCONVERSION
8
50%market share
Second playersmarket share is 16% 15%market share Second playersmarket share is 9%
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Strongly linked to the consumer market
DESTINATION OF KLABINS PRODUCTS
9
Sales volume destination
paper and packaging
68%Food
Building
Other consumergoods
Others
13%
7%
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Reversion of excessive outsourcing
Monte Alegre mill
Forestry
Matrix control of costs (Falconi)
3%
1,664
1,618
SUPERIOR COST CONTROL
Mechanical Vapor Recompression(Debottlenecking in Monte Alegre)
Biomass boilers in Santa Catarina State
High voltage transmission line
Evaporation system
High return investments
Nominal cash costR$ / tonne
2Q132Q12
10
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57% growth
ADJUSTED EBITDA LTM
1.452
33%
25%
26%
28%
31%
29%
32%
33%
24%
11LTM: Last twelve months
Sales Volume LTM(excluding wood million tonnes)
Adjusted EBITDA LTM(R$ million)
Sep11
939
Dec11
1.028
Mar12
1.089
Jun12
1.180
Sep12
1.286
Dec12
1.352
Jun13
1,71,7 1,7 1,7 1,7 1,7 1,7
.
1,7
Mar13Jun11
922
1,7
Margin
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NET DEBT
2.42.0 2.42.5 2.3
2.5 2.3 2.4
Net Debt/Adjusted EBITDA
2.2
2 5
12
Net Debt / Adjusted EBITDA (LTM)
LTM: Last twelve months
Jun-13Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13
2,0
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R$ million 2012 2013E
Maintenanceand s ecial ro ects
552 361
CAPEX
13
Sack kraft expansion 77 127
Recycled expansion 25 212
Total 654 700
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SUSTAINABILITYCOMMITTED TO THE BEST PRACTICES
Certifications
Forest management in the most rigorous environmental, social and economic standards: 94.5% of Klabin's forestscertified by the FSC (Forest Stewardship Council );
Quality Management System ISO 9001;
Environmental Management System ISO 14001;
Occupational Health and Safety Management System OHSAS 18001.
14
Monitoring supply chain focusing on: prevention of child, forced or compulsory labor; combating discriminatorypractices, on appreciation of diversity, preventing bullying and sexual harassment, and respect for freedom ofassociation.
Voluntary commitments and practices adhered to: the UN Global Compact, CPC - Companies for the Climate,
CDP - Carbon Disclosure Project, Pact for Integrity and Against Corruption and Pact for the Eradication of SlaveLabor, among others.
Promoting local development, with a focus on socio-economic aspects of the communities where we operateand in generating income for populations surrounding the plants.
Committed to fundamental principles and rights
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15
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BRAZILIAN PACKAGING MARKETS
HIGHER EXCHANGE RATE INHIBITEDIMPORTS OF PACKAGED PRODUCTS
Brazilian imports ofpackaged products
(monthly avg - tsd tonnes)
FX exchange rate(R$ / dollar)
254
Brazilian sales ofcoated boards *
262
16Source: BACEN, SECEX/MDIC, ABPO and Bracelpa* Excluding LPB
6M12 6M13
300
6M12
348
6M13
2,03
1,87
1,6571,594
Brazilian sales ofcorrugated boxes
6M12 6M13
6M12 6M13
Tsd tonnes
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Klabin Sales Volume(excluding wood tsd tonnes)
DOMESTIC MARKET SALES
601
KLABIN GREW MORE THAN THE MARKET
Competitive advantage ofKlabins products costand quality
17
6M12
561
6M13
Flexibility of product lines
Focus on food markets
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SALES AND NET REVENUE
24%
2.000 2.160
25%30%
850860
Sales volume
(excluding wood tsd tonnes)
Net revenue
(R$ million)
18
Export MarketDomestic Market
2Q12 2Q13
25%
75%
25%
75%
1.0301.094
6M12 6M13
76%75%
2Q12 2Q13
33%
67%
30%
70%
430 429
6M12 6M13
70%
66%
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6M12
61%
39%
192
6M13
54%
46%
169
6M12 6M13
257
245
Kraftliner
PAPER BUSINESS UNIT
19
Kraftliner
Recycled
Kraftliner andcoated boards
Domestic market Export market
0%
6M12
47%
53%
327
6M13
46%
54%
326
6M12 6M13
709752
Coated
boards
Thousand tonnes R$ million
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313343
867977
CONVERSION BUSINESS UNIT
20
Corrugated boxes
Industrial bags
Corrugated boxesand industrial bags
conversion 6M12 6M13 6M12 6M13
Thousand tonnes R$ million
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693
COST AND EBITDA
1,639
1,627
3%
17% EBITDA GROWTH YOY
1,593
21
6M12
Adjusted EBITDA
(R$ million)
6M13
Unit cash cost
(R$/tonne)
Low cost
Higher domestic sales
Higher exports prices
6M136M12
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22
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2013 2014
FROM NOW ON
2016
23
ore ene ts rom t e
cost reduction
Forestry investmentsto increase productivityand reduce costs
New sack kraftmachine in the 4Q13
Recycled papermachine in the 3Q14
PM9 (coated boards)debottlenecking
Modernization of thelumber yard inMonte Alegre
New Pulp mill
New coated boardsmachine
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PUMA PROJECT
Domesticand foreign
markets
Domesticand foreign
markets
Competitive
forest
Competitive
forest Lower costproducer
Lower costproducer
24
Long andshort fiberLong and
short fiber
Fluffmarket
Fluffmarket FSCFSC
Energygeneration
Energygeneration
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FOREST OVERVIEW
Well distributed and located forest base: average
distance of 74km
107,000 hectares planted with pine and eucalyptus Paran region has one of the highest forest yields
in the world ~ 32% above Brazilian average
FSC certified
A singular forest base located in one the most prolific regions of the world
44
20
25
12
6
58
Africa
Chile
Scandinavia
Brazil
Iberian
38
22
10
7
4
43
Productivity m3/(ha*year)
Hardwood Softwood
Klabin
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Puma will operate with low logistics costs
Railroad logistics based on already existing railinfrastructure from America Latina Logistica (ALL)
Terminal at the Port of Paranagu
A dedicated warehouse will be built
Location
LOGISTICS OVERVIEWIntegrated logistics solution assuring efficiency and competitiveness
26
Paranagu port supports large vessels
Klabin Area
27,530 sq m
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FLEXIBLE PRODUCTION MIXHardwood Softwood Fluff
Global demand should keep growing
at healthy levels in the next years
Asia should be the driver for thisgrowth
Main markets: tissue and specialties
Most of the softwood used in the
domestic market comes from
imports which are less competitive Main markets: packaging and tissue
Global and local demand for fluff
should grow substantially
Focus in the local market: hugeopportunity
Main markets: hygiene products
Global demand for hardwood(mm t)
Softwood market pulp in Brazil
Demand for fluff
Brazilian market 000 tonnes
Exposure to high growth markets with the most updated technology available
69410
479
+
2015
33
7
11
3
93
2010
28
6
8
2
9
3
2005
23
63
9
3
Others
China
Latin America
Europe
North America
(000 tonnes)
Mkt pulp
24%
Integrated
76%
Market PulpImportsDomestic sale
Brazilian market (2012)
Global market
4,75 5,35+3%
2011 2015
310 396+5%
2010 2015
(mm tonnes)
27
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PUMA PROJECTEARTH MOVEMENT
28
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29
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MonteiroAranha20%
Brazilianinvestors
BNDES13%
Treasury
5%
Common Preferred
SHAREHOLDER STRUCTURE
30
600,855,733 shares316,827,563 shares
KlabinIrmos60%
Brazilianinvestors20%
42%
Foreign
investors40%
Level 1 of Corporate
Governance at
BM&FBovespa
Tag along rights of 70%
for preferred shares
Average daily trading
volume in 2Q13
R$ 37 million
Dividends in 2012
R$ 275 million
(yield 4%)
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