Earnings 1Q12

04.27.2012

Highlights
Net revenue of Share of domestic sales volume reached at compared to

million, up 1% on 1Q11.

R$ 969

61% in 1Q11.
EBITDA of R$ 311 million in 1Q12, with margin of 32%,

65%,

25%

higher than in 1Q11.

Unit cash cost excluding non-recurring events, stable

in relation to 4Q11.

Payment of complementary dividends amounting to

Net Debt/EBITDA ratio of

R$ 80 million.

2.3x

in March.

Sales

Sales Volume (excluding wood) ( thousand tonnes)

957 26% 24% 969

Net Revenue (R$ million)

994 969 24%

438

420 35%
34%

432 35%

420

23%

39%

61%

65%

74%

76%

66%

77%

65%

76%

1Q11

1Q12

4Q11

1Q12

1Q11

1Q12

4Q11

1Q12

Domestic Market

Export Market

Unit cash cost (R$ / tonne)

- 2%

0%

1,595

1,566

1,561

1,566

1Q11

1Q12

4Q11

1Q12

EBITDA and Net Income

Adj. EBITDA and Adj. EBITDA Margin (R$ million)

459
32% 26% 249 311
32% 319 32% 311

Net Income (R$ million)

459

140

122

1Q11

1Q12

4Q11

1Q12

1Q11

1Q12

4Q11 4T11

1Q12 1T12

3.1

Mar -10

2,528

2.8

Jun-10

2,462

2.2

Sep-10

2, ,106

2.2

Net Debt (R$ million)

Dec-10

2, ,128

2.1

Mar -11

2,002 002

2.0

Jun-11

1,893 893

2.4

Sep-11

2,313

2.5

Net Debt / EBITDA (LTM)

Dec-11

2,735

2.3

Mar -12

2,674

Net Debt

Capex

Biomass boiler at Correia Pinto mill start up was brought forward to May 2012;
R$ million Forestry Maintenance Special Projects Other Total 1Q12 20 42 28 4 94

Debottlenecking at the Monte Alegre unit conclusion in October 2012; Installation of a corrugator at the Jundia-DI (SP) mill start up in the end of 2Q12; Acquisition of a new complete line for the production of bags expected to arrive this year-end;

Investor Relations
www.klabin.com.br/ir invest@klabin.com.br