Download - 3Q14 Webcast
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THE BIGGEST PAPERPRODUCER AND
EXPORTER IN BRAZIL
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RICARDO TADEU MARTINSPRESIDENT APIMEC/SP
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SC
OPENING REMARKS KLABIN: FABIO SCHVARTSMAN
COATED BOARDS: ARTHUR CANHISARES AND EDGARDAVEZUM
PUMA PROJECT: FRANCISCO RAZZOLINI,CRISTIANO TEIXEIRA AND JOS SOARES
EARNINGS 3Q14:FABIO SCHVARTSMAN AND SERGIO ALFAN
QUESTION AND ANWSERS
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FABIO SCHVARTSMANCEO
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boards
papers
conversion
GROWTH PERS
short f
f
en
boards
papers
conversion
2014
1.8 mm tonnes
2015 20
2.0 mm tonnes
3.5 mm
bo
pa
conv
values excluding energy volume
paperexpansions
GoianaAngatubaPiracicaba
PUMAconclusion
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COMPETITIVINESSKLABIN BOARDS
ARTHUR CANHISARESPAPER INDUSTRIAL DIRECTOR
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KLABIN COMPETITINTEGRATED PR
493 thousand haforests
211 thousand hapreserved area
242 thousand haplanted forests
paper
boards
750 thousand tpyporduction capacity
1,7 milliontonnes
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FORESTRY COMPETI
Source: Ib, Poyry and Klabin
highprodutivity
m3/ha/year
38 54
38 44
4 6
mix offibers
pine eucaliptus+
shortaveragedistance
48 KmBrazil
Nordics
Klabin
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KLABIN BOARDS: ADVA
integrated
mix of fibers
flexible
stiffness
resistance
printability
high quality printing
s
1ren
MONTE
ALEGRE
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Source: Klabin Monte Alegre
COATED BOARDS: PROAND COST RE
PRODUCTION CAPACITYthousand tonnes per year
650
2008
PM7+PM9
300
2007
PM7
700
2011
750
2014
PM9expansion
+50 mil tonnes
MONTEALEGRE
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LPB PRODUCTIfx
PM9 PM7
underconstruction
Source: Poyry
productioncapacity
productioncost
USD/tonne
CHINA
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BOARDS
MARKET
EDGARD AVEZUM JRBOARDS COMERCIAL DIRECTOR
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KLABIN
CarrierBoard
Folding BoxBoard
93%
food andbeverages
3% personalcare
4% others
LPBLiquid Packaging Board
OF
KLNERE
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17mm tonnes
other virginfiber boards
4mm tonnesLPB
2,6 mmasseptic
24mm tonnes
recycledboards
BOARDS WORLD
Source: Poyry
44%
VIRGIN FIBER B
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3,37
2,37 2,28
1,181,11
0,830,77 0,75
VIRGIN FIBER BMAIN P
3.37
IP
2.37
Stora
2.28
MWV
1.18
GraphicPackaging
1.11
BillerudKorsns
0.83
Metsa
0.77
GeorgiaPacific
0.75
Klabin
Source: Fisher, Poyry
BOARDS FOR LIQUID (AS
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KLABITHE 3
LARGPRODU
OF LP
BOARDS FOR LIQUID (ASMAIN P
Source: Fisher, Poyry
0.34
IP
0.73
Stora
0.15
MWV
0.79
BillerudKorsns
0.55
Klabin
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BOARDS FOR LIQUID (A
Source: Poyry, Euromonitor Food & Beverage Packaging
2.6mm
tonnes
2013
3.5mm
tonnes
2020
WORLD DEMANDmillion tonnes per year
2008 20092010
20112012
201320
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BOARDS GROWTH OPPORTUNITY fx
PM9 PM7
underconstruction
CHINA
Source: Poyry
PM10
emestudo
productioncapacity
productioncost
USD/tonne
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PROJECT
PUMA
FRANCISCO RAZZOLINIPROJECT AND TECHNOLOGY DIRECTOR
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PRODUCTIO
270 MW
of ENERSELF SUFFI
120 MWhavailable for
Puma use
1asm
ANNUAL PRODUCTION
CAPACITY1.5 MILLION
TONNES OF PULP
LOW OPERATIONCOST
1.1 milliontonnes ofSHORT FIBER
400 thousandtonnes ofLONG FIBERpart converted tofluff
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PUMAMONTE ALEGRE
ORTIGUEIRA
TELMACOBORBA
IMBA
PARAN
23 Km
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CURRENT
areas delivered toEPCs
98% of earthmovingconcluded
EPCs with Klabincoordination
dedicated team: strongfeedback and control
93% ofequipment
supplies,materials and
servicesconcluded
lowimpEU
COMPLETION COST
of the project completed according to the budget25,5%0%
46%
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INDUSTRIA46%
national equipments andmaterials
14%
importedequipments
14%
engineeringand otherservices
27%
civil construction and
assembly
INDU
R
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HIS
80%of workers arParana State
2572
jun2014
3371
jul2014
4471
ago2014
5542
set2014
55%of workers arclosest muni
MANAGEMENT STR
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teams
MANAGEMENT STR
directive committee
project director
technicalmanager
finance andadministration
manager
teams
administration META
planning ARCADIS
safety and health APS / SENAI
PROJ
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PROJ
WOOD PRE
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WOOD PRE
4 lines of350 msol/h eachworking with pine and eucaliptus
WOOD PRE
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picture s
WOOD PRE
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EUCALIPTUS line3.500 ADt/d
PINE l1.300 AD
2 linesof bleached
pulp
F
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F
pictur
CAUST
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C US
16.000 m3/dtwo lime owe
2 x 650 t
CAUST
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bottom og
PULP DRYING
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EUCALIPTUS line3.500 ADt/dbales (BEKP)
PINE line1.300 ADt/d
bales (BSKP)reels (fluff)
2 drying lines
colum
RECOVERY AND
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DES
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FOR THE RECOV
departing from CBC mill in Jundiai
TURBO GE
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TURBO GE
2 turbo generators x 165 MWh
TURBO GE
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TURBO GE
axis of turbine02
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LOGISTICS
CRISTIANO TEIXEIRASUPPLY CHAIN DIRECTOR
LO
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LOM
72 Kmforestry average
distance
pulp millforests
441 Kmrailway to the port
INBOUND OUTBOUND
FORESTRY
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FORESTRY
6,3 millionwood transpor
140 thoustrips per year
130vehicles
390drivers
72 Km is thforestry averagdistance
PURCHASE OF W
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PURCHASE OF W
prod
acquisition of306 wagonswith Randon
metric gauge under
construction withcapacity of 64 tonnes
PURCHASE OF LOCOM
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acquisition of
7 locomotives
with GE
UNDER CONSTRUCTION
single locomotive in southernnetwork to perform the transport fromend to end (mountains andhighlands)
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dimension of each composition
4 compositionsof 71 wagons
4,544 tonnesevery 42 horas
Prototype tests begin in nov/2014
1,250 meters
WAREHOUSE
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warehousein Km 5
warehin po
warehouseKm 5
Klabin ownsthe area
warehouse will beready for use in dec/15
maneuvercourtyard
ALL
WAREHOUSE IN TH
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Klabin ownsthe area
Static capacityof 80,000
tonnes
rail
directo theport a
Paranagu port
warehouse inthe port
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PULP
JOS SOARESKRAFTLINER COMERCIAL DIRECTOR
PULP
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long fib
f
PUDIS
Source: Hawkins Wright; RISI
52.6million tonnes
market pulp
112million tonnes
integrated pulp
164mm tvirginfiber pulp
PUMA: 6thLARGEST PU
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LARGEST MARKET PULP MILLS OF THE WORLD
Fibria Aracruz 2,340
April Riau 2,200
April Rizhao 1,700
Eldorado 1,500
CMPC Guaba 1,690
Suzano Mucuri 1,565
Klabin 1,500
Suzano Maranho 1,500
Source: Hawkins Wright (jul/14)
28.6short fiber 5
17.5
eucalyptus
WORLD DEMANmillion tonnes per year in 2
Montes del Plata1,300
million tonnes per year in 2014
4thLARGETS I
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Fonte: Hawkins Wright
WORLD CAPACITY OF FLUFFthousand tonnes per year in 2014
GP2,296
Weyco1,420
IP1,045
PumaKlabin
400
Domtar334
Resolute290
Stora255
Arauco250
Rock Tenn170
Rayonier110
UPM100
mills
converted influff mills
The only designed toproduce fluff from the start
fibra longafS
WORLD DEMAmillion tonnes per year
23,7
SBSK = pinus long fiber from U
FOCUS ON CONSUMER M
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Source: RISI Euromonitor
96%USA
50%BRA
72%ARG
MARKET PENETRATION INDISPOSABLE DIAPERS2013
high potential ofgrowth
Sophisticinnovation in high
adde
BRAZIL IS THE 3RDLARGEST MOF DISPOSABLE DIAPERS IN T
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OF DISPOSABLE DIAPERS IN T
3.3
2008
4.2
2009
4.9
2010
5.7
2011
SALES OF DIAPERS FR$ billion
Source: Euromonitor
0.4
2008
0.5
2009
0.6
2010
0.8
2011
1.0
2012
1.2
2013
SALES OF DIAPERS FORADULTSR$ billion
COMPOSITION OF D
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30 to 50% of the average
weightof a diaper is composed of fluff (20 to 40g)
SPREADS AMONG DIFFERENTCIF E US$/t
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mar13
apr13
may13
jun13
jul13
aug13
sep13
oct13
nov13
dec13
jan14
feb14
mar14
apr14
may14
long fiber x short fiber
CIF Europe US$/tonne
Source: RISI FOEX
PROJECT PUM
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EARNINGS
3Q14
ANTONIO SERGIO ACFO and IRO
FABIO SCHVARTSMANCEO
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SALES VOLUMEexcluding woodtsd tonnes
70%
30%1,313
9M13
68%
32%1,328
9M14
NET REVENR$ million
75%
25%3,363
9M13
exports
domestic
market
UNIT CA
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1,737R$/tonne
3T13
1,796R$/tonne
3T14
1,729R$/tonne
9M13
1,R$
9M
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SALES VOLUME LTMexcluding woodmillion tonnes
ADJUSTED EBITDA LTMR$ million
939
1.7
sep/11
1,089
1.7
mar/12
1,180
1.7
jun/12
1,027
1.7
dec/11
1,286
1.7
sep/12
1,351
1.7
dec/12
1,424
1.7
mar/13
1,452
1.7
jun/13
1,504
1.7
sep/13
1,562
1.8
dec/13
1,6
1.8
mar/
LTM: last twelve months
N
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2,313
sep/11
2,735
dec/11
2,674
mar/12
3,014
jun/12
3,090
sep/12
3,278
dec/12
3,136
mar/13
3,437
jun/13
3,595
sep/13
3,985
dec/13
2,7
mar/
2.4x 2.5x 2.3x 2.5x 2.4x 2.5x 2.2x2.4x 2.4x 2.6x
1.7
NET DEBTR$ million
NET DEBT/ EBITDA (LTM)
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forestry
CAPEXR$ million 9M143T14
9M143T147025
maintenance 21880
special projects andgrowth 26299
PUMA project 1.479666
total 2.029870
sack kraft machineCorreia Pinto (SC)
EXPA
debottlenecking MP9Monte Alegre (PR)
recycled paper machineGoiana (PE)
debottlenecking Angatuba aPiracicaba (SP)
PUMA project
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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
2014E
3T14331
531
-
2,473
3,335
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Q&A
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THE BIGGEST PAPERPRODUCER AND
EXPORTER IN BRAZIL