Suzano S.a. · BMFBOVESPA:SUZB3
Suzano — Q4 2011 Earnings Presentation
11 slides from Suzano's earnings presentation, Mar 27, 2012
Slide 1: 4Q11 Results
4Q11 RESULTS March 27th, 2012 1
Slide 2: General Notice
General Notice Certain statements in this presentation may constitute forward-looking statements. Such statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. These risks include changes in customer
Slide 3: Pulp Business Unit
Pulp Business Unit Higher sales volume due to seasonality and additional volume with Conpacel acquisition Market Pulp Highlights MM ton 4Q11 4Q11 x 4Q11 x 2011 2011 x Highlight: shipments to China 3Q11 4Q10 2010 − start-up of new paper capacity Market Pulp 10.8 +2.8% -0.2% 42.6 +3.6% − rebuilding
Slide 4: Paper Business Unit
Paper Business Unit Sharp decrease in imports market share throughout 2011 Paper Market Highlights MM ton 4Q11 4Q11 x 4Q11 x 2011 2011 x Domestic demand: +2.6% vs 3Q11 3Q11 4Q10 2010 − Paperboard (+0.7%) and P&W (+3.2%) Brazilian Demand 659 +2.6% -4.4% 2,476 -3.3% Measures adopted by the Brazili
Slide 5: Consolidated Results
Consolidated Results Stability in Mucuri allows for lower cash cost in 4Q11 Net Revenue (R$ million) EBITDA (R$ million) and EBITDA Margin (%) 38.2% 33.4% 31.1% 26.8% 21.2% +7.4% +11.8% +8.6% Average R$/US$ 1.70 1.63 1.80 1.76 1.67 Domestic Market Extports Cash Costs ex-Maintenance Downtime (R$/ton)
Slide 6: Debt
Debt Comfortable debt profile, with an average term of around four years Gross Debt (R$ million) Gross Debt (R$ million) +22.2% +6.0% Average 1.88 1.67 1.85 R$/US$ Short term Long term Amortization Schedule (R$ million) 2.444 2.253 Cash position: R$3.3 billion (Dec/11) Net Debt/EBITDA: 4,2x 1.21
Slide 7: Capital Expenditure
Capital Expenditure Start of industrial investment in the Maranhão unit and Conpacel acquisition are most of 2011 growth capex Capex 4Q11 4Q10 Δ Y-o-Y 3Q11 Δ Q-o-Q 2011 2010 Δ Y-o-Y (R$ million) Sustain 166 118 +40.6% 138 +20.3% 518 330 +56.9% Industrial 58 38 +51.3% 54 +6.7% 170 98 +73.9% Florestry
Slide 8: Capital Expenditure: Maranhão project on track
Capital Expenditure Maranhão project is on track and estimated start up for 4Q13 Ongoing project: − earth-moving work concluded − infrastructure works already started − About 4,000 people working in Maranhão Unit construction and forest formation − Agreement for the training of around 6,000 people
Slide 9: Capital Expenditure: R$800 million reduction in expansion capex
Capital Expenditure R$800 million reduction in expansion projects capex Capex (R$ billion) R$800 million reduction in expansion projects capex in 2 years: No change in the Maranhão project investment Piauí forest investment reduced to the minimum amount necessary for sustain As for the Suzano
Slide 10: Key Messages
Key Messages 2011 Highlights Pulp and Paper Markets • Pulp: − Higher eucalyptus pulp shipments (+6.1% vs 2010), China was the highlight − Price decrease throughout 2011 due to the resumption in global supply and inventory increase • Paper: − Sharp decrease in imports market share throughout 2011 −
Slide 11: Investor Relations Team
Investor Relations Team Investor Relations www.suzano.com.br/ir 11