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1 q09 earnings presentation
1 q09 earnings presentation
1 q09 earnings presentation
1 q09 earnings presentation
1 q09 earnings presentation
1 q09 earnings presentation
1 q09 earnings presentation
1 q09 earnings presentation
1 q09 earnings presentation
1 q09 earnings presentation
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1 q09 earnings presentation

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  • 1. 1Q09 Consolidated Results May 05, 2009
  • 2. Key Messages• Signs of demand recovery in certain markets – Paper: Brazilian demand in March was16.8% higher than in February; – Pulp: Record sales volume in 1Q09 (main destination: Asia).• Solid financial position – Adequate debt profile; – Competitive debt cost; – Strong cash position: R$ 2.1 bi, with total debt reduction of R$ 158 million in the quarter; – Fitch affirms Suzano’s rating:AA- (bra)• Consistent operational performance – EBITDA margin in 1Q09: 33.5%.• Solid growth strategy – investments in the new growth cycle were confirmed 2/10
  • 3. Highlights 1Q09• Global hardwood inventories: -6 days in March (47 days vs 53 in February);• Market pulp and paper production: 647 ktons, 1.1% lower than 4Q08 and 2.1% higher than 1Q08;• Record sales of 654 ktons: 421 ktons of pulp and 233 ktons of paper;• Higher average domestic prices for paper (+2.4%);• Net revenue of R$ 943 million;• Pulp production’s cash cost of R$ 427 / ton and SG&A expenses 27% lower than 4Q08;• EBITDA of R$ 316 million and 33.5% EBITDA margin;• Net income of R$ 90 million;• Robust cash and cash equivalents: R$ 2.1 billion, with total debt reduction of R$ 158 million;• Alexandre Yambanis appointed as Pulp Business Unit Executive Officer on January, 2009. 3/10
  • 4. Pulp Business Unit • Global pulp demand of 9.4 million tons1: -9.1% vs 1Q08 and -1,3% vs 4Q08; • BEK demand 11.7% higher than 1Q08 and 8,0% higher than 4Q08; • Announced downtimes of approximately 2.7 million tons 2 in 1Q09. • Suzano’s record pulp sales: 421 thousand tons: − 28% higher than 4Q08;1Q09 − 21% higher than 1Q08. • Main sales destinations: Asia (48.1%), Europe (31.3%) and Brazil (12.7%). • Average net prices: -19% vs 4Q08 in US Dollars (US$ 407/ton vs. US$ 503/ton). In Brazilian Reais: − 18% lower than 4Q08; − 20% lower than 1Q08. • Net sales of R$ 396.7 million, 5.1% higher than 4T08 and 2.6% lower than 1Q08. • Cash cost of R$ 427 / ton 3, 2.5 % lower than 4T08 and 5.7% lower than 1T08.1PPPC 2Hawkins Wright 3Does not include Mucuri downtime costs 4/10
  • 5. Pulp Business Unit Pulp sales (thousand tons) Pulp sales (R$ million) 397 407 421 377 348329 316 342 339 368278 28651 53 62 62 55 684Q08 1Q09 1Q08 4Q08 1Q09 1Q08 Domestic market Exports Domestic market Exports Destination of pulp sales - 1Q09 Destination of pulp sales - 4Q08 Brazil BrazilSouth/Central America 13% South/Central America 16% 0% 0% Asia North America North America Asia 37% 8% 6% 48% Europe 31% Europe 42% Total 421 ktons Total 329 ktons 5/10
  • 6. Paper Business Unit • Signs of demand recovery in Brazil during 1Q091 − Jan-Feb/09: -15% vs Jan-Feb/08; − Mar/09: -6,4% vs Mar/08 (uncoated +2,4%). Total growth of 17% in comparison to Feb/08; − Total 1Q09 vs 1Q08: -12% and contraction of 25% when compared to 4T08. • Imports’ share in the coated domestic market: reduction to 37% from 46% in 1Q08.1Q09 • Suzano’s domestic sales reached 92 ktons in P&W and 30 ktons in Paperboard: − P&W: -13% lower than 1Q08 (domestic market: -10%). High growth in Mar/09: 23% vs Feb/09. − Paperboard: -21% lower than 1Q08 (domestic market: -19%). • Increase in the average domestic price in 1Q09: +2.4%. • Paper exports reached 110.5 ktons: -16% vs 4Q08 and -11.3% vs 1Q08. • Average prices of exports: • In US Dollars: -8% vs 4Q08 and -9% vs 1Q08 • In Reais: -7% vs 4Q08 and +22% vs 1Q08 1Bracelpa, includes printing & writing and paperboard segments 6/10
  • 7. Paper Business Unit Paper sales (thousand tons) Paper sales (R$ million) 302 723 271 233 562 546 132 295 125 111 232 215 171 428 122 146 315 348 4Q08 1Q09 1Q08 4Q08 1Q09 1Q08 Domestic market Exports Domestic market Exports Paper exports - 1Q09 Paper Exports – 4Q08 Others Others Europe 17% Europe 18% 23% 28% North AmericaSouth/Central America South/Central 21% 30% North America America Total 111 ktons 25% 39% Total 132 ktons 7/10
  • 8. Results 1Q09 % %Results 1T09 4Q08 1Q09 1Q08 1Q09/4Q08 1Q09/1Q08Sales volume (000 tons) 632 654 619 3,5% 5,7%Paper volume domestic market (000 tons) 171 123 146 -28,4% -16,2%Pulp volume export market (000 tons) 278 368 286 32,2% 28,4%Net revenue - R$ million 1.100 943 970 -14,3% -2,8%Net income - R$ million (495) 90 124 n.a -27,6%EBITDA - R$ million 382 316 343 -17,3% -7,9%EBITDA - US$ million 167 136 197 -18,7% -30,9%EBITDA margin 34,7% 33,5% 35,3% -1,2 p.p. -1,9 p.p.Exchange Rate (R$/US$) 2,28 2,32 1,74 1,8% 33,3%Net debt 5.459 5.338 4.225 -2,2% 26,3%Net debt / EBITDA (LTM) 3,7 3,7 3,5 n.a n.an.a. – non applicableLTM = last twelve months 8/10
  • 9. Key Messages• Signs of demand recovery in certain markets – Paper: Brazilian demand in March was16.8% higher than in February; – Pulp: Record sales volume in 1Q09 (main destination: Asia).• Solid financial position – Adequate debt profile; – Competitive debt cost; – Strong cash position: R$ 2.1 bi, with total debt reduction of R$ 158 million in the quarter; – Fitch affirms Suzano’s rating:AA- (bra)• Consistent operational performance – EBITDA margin in 1Q09: 33.5%.• Solid growth strategy – investments in the new growth cycle were confirmed 9/10
  • 10. Investor Relationswww.suzano.com.br/ri55 11 3503-9061ri@suzano.com.br

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