Press Offices Contacts

Fleishman HillardNational
Andrea Donadio
Tel.: (11) 3185 9934
Cel.: (11) 99686 5073
Célia Nogueira
Phone.:
+ 55 11 3185 9923
+55 11 98999 0069
Pauta 6 ComunicaçãoEspirito Santo and Bahia
Rogéria Gomes
Phone.:
+ 55 27 3235 6996
Performa ComunicaçãoInterior of São Paulo
Kamilla Barboza
Phone.:
+ 55 12 3939 2699
+ 55 12 99188 7437
Performa ComunicaçãoMato Grosso do Sul
Kamilla Barboza
Phone.:
+ 55 12 3939 2699
+ 55 12 99188 7437
Luciana Navarro
Phone.:
+ 55 67 9803 7092

Updated on 23.07.2015

MídiaReleases

July 23, 2015 - With record net revenue of R$ 2.3 billion, Fibria also sets a new record for Ebitda, of R$ 1.2 billion, and reduces its leverage ratio to its lowest level ever, of 1.95x

  • Net revenue of R$ 8.1 billion in the last 12 months, a new record;
  • Net debt falls to US$ 2.642 billion, Fibria’s lowest level ever;
  • The stronger U.S. dollar boosts the operating and financial results of Fibria, which posts net income of R$ 614 million in the period;
  • Fibria pays R$ 149 million in dividends to shareholders.  

São Paulo, July 23, 2015 – The stronger U.S. dollar and continued firm demand for pulp throughout the second quarter of 2015, which supported the announcement of new price increase in June of US$ 20 per ton in all regions, led Fibria to report record-high results for the period. Fibria posted record net revenue of R$ 2.309 billion, increasing 36% on the same quarter last year and 16% on the prior quarter. In the 12 months to June, Fibria posted net revenue of R$ 8.054 billion, which is also a new record for the company in a 12-month period.

Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was also the highest ever in a 12-month period, reaching R$ 3.682 billion in June. In the second quarter alone, adjusted EBITDA came to R$ 1.157 billion, increasing 95% on the same period of 2014 to set yet another record for Fibria. Meanwhile, EBITDA margin stood at 50%, expanding 15 percentage points from 35% in the second quarter of last year.

“The stronger U.S. dollar and continued strong demand for pulp in international markets helped Fibria attain a new level in its quarterly results, as demonstrated by its record-high net revenue and EBITDA in both the quarter and the 12 months to June. Another positive highlight was the distribution, in May, of R$ 149 million in dividends to shareholders based on net income for the previous year, which corresponds to 100% of adjusted net income, thanks to Fibria’s strong cash generation capacity and low leverage,” said Fibria CEO Marcelo Castelli.

The fluctuation in the USD/BRL exchange rate in recent months also contributed to Fibria’s positive net income in the second quarter. Given its vocation as an exporter, more than 90% of Fibria’s debt is denominated in U.S. dollar and its net income is directly influenced by the effects from exchange variation on its debt. The 3% decrease in the USD/BRL exchange rate (average in period) at the end of the second quarter had a positive impact on the translation of Fibria’s debt into BRL, which enabled it to post net income of R$ 614 million in the period.

Free cash flow in the second quarter amounted to R$ 544 million (excluding the dividend payment and the effects from the delay of several days for receiving R$ 78 million in sales), increasing around 119% on the same period of 2014 and 46% on the prior quarter. On the same basis, free cash flow generation in the last 12 months came to R$ 1.3 billion.

The world’s leading eucalyptus pulp manufacturer, Fibria produced 1.321 million tons of pulp in the second quarter, up 4% on the same period last year and 2% sequentially. Sales came to 1.282 million tons, which is the second highest volume ever sold in a second quarter in Fibria’s history.

Net debt in USD fell to its lowest level since Fibria’s creation, to US$ 2.653 billion, down 13% from the second quarter of 2014. This debt reduction, coupled with EBITDA growth, led Fibria’s leverage, as measured by the ratio of net debt to EBITDA in USD, to decline to 1.95 times, the first time ever the indicator has fallen below 2 times. Gross debt ended June at US$ 2.906 billion, down 24% on a year earlier and stable in comparison with the end of March.

See highlights from Fibria’s second-quarter results on social media using the hashtag #FBR_2015

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