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Modified on 02.24.2015

Media | Releases

December 4, 2014 - Fibria announces capital expenditures (Capex) and new business opportunities during the 4th Fibria Day held in New York

The world’s largest eucalyptus pulp producer completes five years of operation and participates in the market opening bell ceremony at the New York Stock Exchange (NYSE)

New York (USA) – On Wednesday (December 3, 2014), the executive board of Fibria, a 100% Brazilian company and the world’s leading producer of eucalyptus pulp, held the 4th Fibria Day, the annual meeting that gathered together analysts, investors and key executives from the company at the New York Stock Exchange (NYSE). The company’s executive officers joined NYSE representatives for the opening bell ceremony. The CEO of Fibria, Marcelo Castelli, the Chief Financial and Investor Relations officer, Guilherme Cavalcanti, the Chief Commercial and International Logistics officer, Henri Philippe Van Keer, and other members of management participated in the event.

In New York, Fibria executives announced an estimated capital expenditure (Capex) of R$ 1.69 billion for 2015, an increase of 5% from 2014. The company estimates its structural Capex at between R$ 1.45 billion and R$ 1.5 billion as of 2017.

Since its foundation, Fibria, which completed five years of operations in September, has been recognized for consistently delivering results on three priority areas of its strategy: operational excellence, growth with discipline and liability management. On the liability management front, the company reduced its leverage to 2.5 times its EBITDA (in U.S. dollar) and, for its efforts in this direction, was rated investment grade by Fitch Ratings in February this year.

After overcoming the main challenges since its foundation, Fibria is now looking for new business opportunities while maintaining its financial discipline and upholding corporate governance.

According to the CEO of Fibria, Marcelo Castelli, the company plans to maximize value both on the fronts where it already operates, through continuous improvement initiatives, and by pursuing transformational initiatives that will enable it to launch a new growth cycle. “We want to capitalize on opportunities so that the company’s value leaps in the coming years. For this, we will create opportunities within the planted forestry business, investing in innovation and new businesses, while constantly thinking of ways to do more with less,” says Castelli.

Among the new business opportunities are bioenergy, as well as infrastructure and real estate projects. Fibria’s goal is to create more value in secondary areas that are not directly related to its core business of pulp production.

Regarding the continuous improvement, Fibria is implementing zero-base budgeting to reduce costs. According to CFO Guilherme Cavalcanti, all areas of the company are reviewing their budgets, devising their plan for 2015 by starting from zero.

About Fibria

The global leader in eucalyptus pulp production, Fibria is a Brazilian company that strives to meet the growing global demand for forestry products in a sustainable manner. With an annual pulp production capacity of 5.3 million tons, the company has industrial units in the cities of Aracruz (Espírito Santo), Jacareí (São Paulo) and Três Lagoas (Mato Grosso do Sul), and in Eunápolis (Bahia), where it operates the Veracel plant through a joint venture with Stora Enso.

Fibria owns a forest area of around 968,000 hectares, distributed across six Brazilian states (São Paulo, Minas Gerais, Rio de Janeiro, Espírito Santo, Bahia and Mato Grosso do Sul), of which over 343,000 hectares are earmarked for environmental conservation.

The company is a major exporter, with 95% of its production exported to over 40 countries in Europe, Asia, Latin America, and to the United States. In partnership with Cenibra, Fibria operates the only Brazilian port specialized in shipping pulp: Portocel. The terminal, located just 4.3 km from the Aracruz Unit in Barra do Riacho, Espírito Santo, accounts for about 65% of all the pulp exported by Brazil.

Headquartered in São Paulo, Fibria is present in 242 cities across six Brazilian states and has approximately 17,000 employees and outsourced workers. The company has a consolidated presence in the world’s leading markets. It has offices in Miami (USA), Lustenau (Austria) and Hong Kong (China), and distribution centers in the Gulf of Mexico, United States, Europe, and Southeast Asia.

Fibria’s stock is listed on the Novo Mercado segment of BM&FBovespa and on the New York Stock Exchange (NYSE). The company reported net revenue of R$ 1.75 billion in the third quarter of 2014 and R$ 5.08 billion in the first nine months of the year. Between July and September, the company’s pulp sales totaled 1.4 million tons - a record for a third quarter. Net debt in the quarter was the lowest in Fibria’s history, ending September at US$ 2.98 billion, going below the US$ 3 billion mark for the first time ever.

Broadening its vision for the future, Fibria invests in research and innovation to differentiate its products, to increase forest productivity and operational excellence, and to ensure that the value of forests is best used through biofuels and other bio-based products. Fibria has teamed up with Ensyn Corporation, which owns the technology to convert biomass into bio-oil, to conduct research on using wood waste to produce biofuel.

Sustainability

The commitment to the efficient use of natural resources and social engagement are inherent to the strategy devised by Fibria, which was created with the mission of developing the renewable forestry business as a sustainable source of life and building wealth in a responsible, shared and inclusive manner.

Fibria is aware that its operations depend not only on economic and financial aspects but also on social and environmental factors. Hence, it operates in harmony with society at every stage of its production chain, mitigating the impacts of its operations and promoting the social inclusion of neighboring communities. The company has a Sustainability Committee responsible for monitoring the trends in sustainability that could impact the company's strategy, with the focus on two fronts: climate change and valuation of ecosystem services. The Committee is led by the Chairman of its Board of Directors and consists of five independent external members and three executive officers of the company.

In line with its commitment to sustainable growth, the company has also established long-term goals, with a horizon of 2025. These include targets for the optimum use of natural resources, measures to mitigate the greenhouse effect, protect biodiversity and increase eco-efficiency, and greater interaction between Fibria and surrounding communities.

The alignment between maximization of value, respect to social and environmental issues and the focus on disciplined growth has earned Fibria wide press recognition in Brazil. Fibria was elected The Sustainable Company of 2014 by “Guia Exame de Sustentabilidade”, a publication released on an annual basis by Exame, the leading business magazine in Brazil. In 2014, the Guia Exame de Sustentabilidade analyzed 228 companies. Furthermore, Fibria was named the best company in the pulp and paper industry in the “Época Negócios 360º” yearbook for the second consecutive year. It also won the “As Melhores da Dinheiro” award, from IstoÉ Dinheiro magazine, one of the most relevant publication focused on economics and business subjects. The yearbook “As Melhores da Dinheiro” assesses the performance of the 1,000 largest companies in Brazil and points out the best one in 29 major industries. In 2013, Fibria received the "Empresa de Valor" (Valor’s Top Company) award, which is given to the most outstanding company among the winners from 25 sectors.  ​Valor Econômico is the most important economic newspaper in Brazil and releases, on an annual basis, the Valor 1000 yearbook, which analyzes the 1,000 largest companies in Brazil.

At the international level, Fibria was the only Brazilian company selected in 2013 by RobecoSAM, which provides assessment services for the Dow Jones Sustainability Index (DJSI), to be featured in a magazine covering ten companies that are ahead of their industries in environmental, social and governance issues. Targeted at investors who consider sustainability aspects when making investment decisions, the magazine “The 10 Game Changers – Changing the industry through sustainability” brings together companies from Switzerland, the Netherlands, the United States, the Philippines and Australia. The company was featured for its broad commitment to the efficient use of natural resources, R&D and social engagement.

For the second consecutive year, Fibria was included in the 2014-2015 portfolio of the DJSI World Index and the DJSI Emerging Markets Index, the key benchmark index for capital markets on sustainability in publicly held corporations. In the Brazilian stock exchange, the company’s securities are listed in the Corporate Sustainability Index (ISE), which measures the total return on a theoretical portfolio consisting of shares of companies with recognized commitment to social responsibility and corporate sustainability. All of Fibria’s units are certified by the Forest Stewardship Council® (FSC®) and the Cerflor/ Programme for the Endorsement of Forest Certification (PEFC).

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