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KLBN11
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
EBITDA
1.424
1.286
1.452
1.504
1.602
1.627
1.652
1,8
1,8
1,8
1,8
dez/13
mar/14
jun/14
set/14
1.562
1.351
1.180
1.027
1.089
939
1,7
1,7
1,7
1,7
1,7
1,7
1,7
1,7
1,7
set/11
dez/11
mar/12
jun/12
set/12
dez/12
mar/13
jun/13
set/13
PERSPECTIVES OF GROWTH
3,5 mm tons
energy
2,0 mm tons
conversion
conversion
papers
expansion
papers
short fiber
conclusion
Puma
conversion
papers
papers
boards
boards
boards
2014
2015
2016
Goiana
Angatuba
Piracicaba
PROJECT
FORESTRY COMPETITIVENESS
High
Productivity
Fiber mix
m3/ha/year
Radius from
the forest to the
mill
Mosaic
plantation
Today
48 Km
Klabin
38
54
+
Brasil
Nrdics
38
44
pinus eucaliptus
Puma
72 Km
Sustainable
Management
LOW OPERATION
COST
ANNUAL PRODUCTION
CAPACITY
1.5 MILLION
TONNES OF PULP
1.1 million
tonnes of
SHORT FIBER
400 thousand
PRODUCTION OF
270 MWh
of ENERGY
SELF SUFFICIENT
120 MWh
available for
Puma use
150 MWh
available for
sale in the
market
tonnes of
LONG FIBER
part converted tofluff
Energy excess
of 40 MWh
after Puma
300 thousand
hectares
Europe
700thousand
hectares
nordic countries
238 thousand
planted forest
needed for a 1.5
million tonnes
of hardwood
pulp mill
160
thousand
hectares
Chile
hectares
south USA
140 thousand
hectares
Brazil
100 thousand
hectares
KLABIN PUMA
HUGE
PRODUTIVITY
10
PARAN STATE
ORTIGUEIRA
23 Km
PUMA
MONTE ALEGRE
TELMACO BORBA
IMBA
CURRENT STATUS
COMPLETION
areas delivered to
EPCs
99% of earthmoving
concluded
0%
COST
38,5%
95% of
equipment
supplies,
materials and
services
concluded
lower dependency on
imported equipments
EUR 360 million
(50% already paid)
100%
46%
INDUSTRIAL CAPEX
14%
TOTAL CAPEX
R$ 7.2 BI
national equipments and imported
materials equipments
14%
27%
INDUSTRIAL CAPEX
R$ 5.8 BI
NET OF
RECOVERABLE
TAXES
engineering and
other services
civil construction and
assembly
FUNDING PUMA
R$ 7,2 bi
R$ 7,2 bi
RecoverableTaxes
R$ 600 mi
IDB R$700 mi
Infrastructure
R$ 800 mi
ECA Finnvera
R$ 1,0 bi
BNDES
R$ 4,2 bi
Industrial Capex
R$ 5,8 bi
Debenture - equity
R$ 1,7 bi
Uses
Sources
BNDES and Finnvera are fully signed and committed, IDB is approved by their board
HISTOGRAM
8466
6560
5542
Majority of
Workers
4471
3371
2572
jun2014
jul2014
aug2014
sep2014
oct2014
dec2014
PULP MARKET
PULP MARKET
2014
164 virgin
112
mm t fiber pulp
PULP MARKET
DISTRIBUTION
45%
million tonnes
33%
52.6
million tonnes
eucalyptus
long fiber
22%
integrated pulp
market pulp
other short
fibers
PUMA:
th
6
Fibria Aracruz
2,340
April Riau
2,200
April Rizhao
1,700
CMPC Guaba
1,690
Suzano Mucuri
1,565
Klabin
1,500
Suzano Maranho
1,500
Eldorado
1,500
1,300
WORLD DEMAND
short fiber
28.6
17.5
eucalyptus
52.6 market
pulp
th
4
LARGETS IN FLUFF
2,296
GP
1,420
Weyco
1,045
IP
400
Puma
Klabin
334
Domtar
290
Resolute
250
Arauco
Rayonier
UPM
255
Stora
Rock Tenn
mills
converted in
fluff mills
23,7
6,4
170
110
fibra longa
fluff and
SBSK
100
SBSK = pinus long fiber from USA
MARKET PENETRATION IN
DISPOSABLE DIAPERS
2013
USA
96%
high potential of
growth
BRA
50%
ARG
72%
Source: RISI, Euromonitor
600
500
400
PUMA
5
300
10
15
20
annual capacity (millions of tonnes)
25
700
Capex
R$ MILLION
2011
2012
2013
2014E
2015E
MAINTENANCE
296
390
369
331
380
159
264
431
531
300
VALE DO CORISCO
428
99
2,473
3,400
883
654
899
3,335
4,080
PUMA PROJECT
TOTAL
22