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Algumas afirmações nesta apresentação e durante a sessão de perguntas e respostas no conference call podem ser projeções ou afirmações sobre
expectativas futuras. Tais afirmações estão sujeitas a riscos conhecidos e desconhecidos e incertezas que podem fazer com que tais expectativas não se
concretizem ou sejam substancialmente diferentes do que era esperado.
3Q07 Consolidated ResultsOctober 26th, 2007
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Highlights
1) Line 2 at Mucuri started up 35 days earlier than planned.
2) Pulp price increases in August, and October – to US$750/t (CIF Europe).
3) Pulp producers’ inventories at 29 days of shipments at end of September.
4) Paper export prices increased by US$40/t.
5) CADE approves Conpacel Paper and Pulp Consortium.
6) Stake in Limeira and Cubatão assets sold for US$32.5 million;
7) Market cap reaches US$5.0 billion.
8) 3Q07 Ebitda is R$ 266.6 million, Ebitda margin 32.7%, in context of strengthening Real.
9) 3Q07 net income is R$ 168 million, 71.8% higher than in 3Q06.
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Mucuri Project
Startup 35 days ahead of schedule.
Photo: August 26th, 2007
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Mucuri Project
Photo: August 26th, 2007
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Pulp Business Unit
� Net price for pulp exports in 3Q07 was US$613/t, compared with US$594/t in 2Q07, and US$587/t in 3Q06;
� Strong demand, restrictions related to wood supply and low inventories;
� 169,300 tons produced, reflected maintenance shutdowns at the Mucuri and Americana units and the startup of Line 2.
� Cash cost of R$ 535/t. Increased by the maintenance shutdown (R$ 69/t) and higher percentage of wood from local farmers (R$ 24/t). Without these additional costs, cash cost would have been R$ 442/t (R$ 446/t in 2T07).
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Pulp Business Unit
Pulp exports 3Q07
(sales volume)
Europe
67%
Asia
22%
North
America
9%
Latin
America
2%
41
163
204
36
145
180
40
156
196
2Q07 3Q07 3Q06
Pulp Net Sales (R$ million)
Domestic market Export market
38
138
176
33
123
156
36
122
158
2Q07 3Q07 3Q06
Pulp Sales volume (thousand tons)
Domestic market Export market
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Paper Business Unit
� Higher average prices (increased 1,3% comparing to 2Q07);
� Domestic market + R$ 11/t
� Expor market + US$ 38/t
� 63% of volume sold to domestic market;
� Volume in domestic market 7,3% higher than 2Q07.
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Paper Business Unit
405
210
615
437
199
636
446
206
652
2Q07 3Q07 3Q06
Paper Net Sales (R$ million)
Domestic market Export market
168
114
282
180
108
288
184
108
292
2Q07 3Q07 3Q06
Paper sales volume (thousand tons)
Domestic market Export market
Paper Exports 3Q07
(sales volume)
Latin
America
41%
Europe
25%
Asia
16%
North
America
18%
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obsNote: LTM = Last twelve months
Results (3Q07 x 3Q06)
3Q07 3Q06
%
3Q07/3Q06
Sales volume (000 tons) 444 450 -1.4%
Pulp volume export market (000 tons) 123 122 0.5%
Net revenue - R$ million 816 855 -4.6%
Net income - R$ million 168 98 71.8%
Cash-cost (R$/tons) 535 447 19.7%
EBITDA - R$ million 267 299 -10.9%
EBITDA - US$ million 139 138 1.0%
EBITDA margin 32.7% 35.0% -6.6%
1.92 2.17 -11.7%
Net debt / EBITDA (LTM) 3.9 3.45 13.0%
Exchange Rate
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obsNote: LTM = Last twelve months
Results (9M07 x 9M06)
9M07 9M06
%
9M07/9M06
1,341 1,286 4.3%
401 373 7.3%
2,446 2,300 6.4%
447 354 26.3%
821 778 5.4%
411 357 15.0%
33.5% 33.9% -1.2%
2.00 2.18 -8.2%
3.9 3.45 13.0%Net debt / EBITDA (LTM)
Pulp volume export market (000 tons)
Net revenue - R$ million
Net income - R$ million
Exchange Rate
EBITDA - R$ million
EBITDA - US$ million
EBITDA margin
Sales volume (000 tons)
IR Team+55 11 3503 [email protected]
PressLetícia VolponiGWA Comunicação [email protected]+55 11 3816 3922
