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FSB ComunicaçõesNational
Paula Barcellos
Phone.:
+ 55 11 3165 9589
Maria Claudia Almeida
Phone.:
+ 55 11 3165 9648
Erica Benute
Phone.:
+ 55 11 3165 9687
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 9188 7437
Paula Sayuri
Phone.: + 55 12 3939 2699
+ 55 12 9629 7567
Performa ComunicaçãoMato Grosso do Sul
Kamilla Barboza
Phone.: + 55 12 3939 2699
+ 55 12 9188 7437
Luciana Navarro
Phone.: + 55 67 9803 7092

Modified on 05.02.2011

Media | News

05.02.11 - Fibria profits R$389 million in 1Q11

Result was 140% greater than 4Q10
With net debt down to R$7.9 billion, net debt/EBITDA fell to 2.9x.

Sao Paulo - In the first quarter of 2011, Fibria posted net income of R$389 million, up 140% quarter-on-quarter, in large part due to the results of the sale of Conpacel and KSR. The proceeds from the sale, in the amount of R$1.5 billion, also contributed significantly to the reduction of the Company’s debt. Net debt at the end of March totaled R$7.959 billion, down 19% over 4Q10’s R$9.816 billion. As compared to the first quarter of last year, when net debt was R$10.856 billion, the decline was 27%. Pro-forma EBITDA for 1Q11 was R$607 million, stable quarter-on-quarter. Net debt/EBITDA continues to fall, reaching 2.9x, its lowest level since Fibria’s founding. A year ago, this indicator stood at 5.6x.

According to its strategy of extending the maturities of its financial liabilities, Fibria raised US$750 million through a 10-year Eurobond issue with a rate of 6.75% p.a. As a result of this strategy, Fibria's average maturity was extended to 79 months and short term debt fell to 12% of the total.

Continuing to drive the Company’s good performance is also its focus on operating excellence and the consistency of the market pulp industry’s supply and demand fundamentals, which, for their part, allowed the announcement of a US$30/ton price increase effective as of April.

Between January and March, pulp production totaled 1.319 million tons, just 1% below the production of 4Q10. As compared to the first quarter of last year, when production was 1.267 million tons, there was a 4% increase.

Pulp sales in the first quarter totaled 1.259 million tons, stable over the last quarter. Quarter-on-quarter, Fibria's net revenue declined 1%, from R$1.563 billion to R$1.548 billion.

Dividends - The distribution of the minimum mandatory dividend for the 2010 fiscal year in the amount of R$142 million, as well as the distribution of the retained dividends for the 2009 fiscal year in the amount of R$122 million. Payment is scheduled for May 31, 2011.

To see the full 1Q11 earnings release, visit: www.fibria.com.br/ir.

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