Klabin Sa · BMFBOVESPA:KLBN3
Klabin Sa — Q4 2023 Earnings Presentation
16 slides from Klabin Sa's earnings presentation, Feb 8, 2024
Slide 1: 4Q23 Earnings Presentation
4Q23 Earnings Presentation ri.klabin.com.br
Slide 2: Disclaimer
ri.klabin.com.br Earnings Presentation 4Q23 DISCLAIMER This presentation may contain forward-looking projections or statements. Such statements are exposed to known and unknown risks and different nature uncertainties that may cause these expectations not to materialize or to differ materially from
Slide 3: 4Q23 Performance – Sales Volume
ri.klabin.com.br Earnings Presentation 4Q23 4Q23 PERFORMANCE – Sales Volume Pulp Total Sales¹ Adjusted EBITDA by SHORT FIBER 31% 961 Segment3/4 2023 412 298 k tons k tons k tons R$ 1.620 bn LONG FIBER/FLUFF 114 k tons 12% Convertion (Integration) Paper - Market Pulp COATED BOARDS 30% CORRUGATED 198
Slide 4: 2023 Performance – Sales Volume
ri.klabin.com.br Earnings Presentation 4Q23 2023 PERFORMANCE – Sales Volume Pulp Total Sales¹ Adjusted EBITDA by SHORT FIBER 1,128 k tons 31% 3,666 Segment3/4 4Q23 1,546 k tons R$ 6.259 bn k tons LONG FIBER/FLUFF 418 k tons 11% Convertion (Integration) Paper - Market Pulp COATED BOARDS CORRUGATED 36
Slide 5: 4Q23 Results
ri.klabin.com.br Earnings Presentation 4Q23 4Q23 RESULTS Exchange4 R$ / US$ 4Q22 4Q23 Average dollar 5.26 4.96 Sales Volume¹ Net Revenue² Adjusted EBITDA3 (thousand tons) (R$ million) (R$ million) +4% 37% -11% 36% 928 961 5,083 4,500 Foreign 46% 38% 42% Marke 36% -15% 1,905 1,620 58% 54% Domestic 62
Slide 6: 2023 Results
ri.klabin.com.br Earnings Presentation 4Q23 2023 RESULTS Exchange4 R$ / US$ 2022 2023 Average dollar 5.17 5.00 Sales Volume¹ Net Revenue² Adjusted EBITDA3 (thousand tons) (R$ million) (R$ million) -10% 39% 35% -5% 20,033 3,852 18,024 3,666 41% -20% 44% 35% 44% Foreign Marke 7,784 6,259 56% 59% 65% 5
Slide 7: Pulp
ri.klabin.com.br Earnings Presentation 4Q23 PULP The result benefited by the diversified fiber portfolio, solid fluff performance and flexibility of the mix between geographies Sales Volume Short Fiber and Long (thousand tons) Fiber/Fluff Net Price Production Cash Cost² 0% (US$ per ton¹) (R$ per ton
Slide 8: Coated Boards
ri.klabin.com.br Earnings Presentation 4Q23 COATED BOARDS Start of MP28 ramp-up began to show benefits in the Company's results Sales Volume Net Revenue PM28 (thousand tons) (R$ milhões) Ramp-up Production (thousand tons) 2023 2024e 2025e 2026e 2027e +11% +1% 3,931 700 705 3,538 162¹ 350 400 440 460
Slide 9: Total Cash Cost
ri.klabin.com.br Earnings Presentation 4Q23 TOTAL CASH COST Initiatives implemented throughout 2023 and greater dilution of fixed costs contributed to the reduction of the cash cost in the period General and administrative Total Cash Cost1/2 COGS1 selling expenses (R$ per ton) (R$ per ton) (R$ milli
Slide 10: Free Cash Flow (FCF)
ri.klabin.com.br Earnings Presentation 4Q23 FREE CASH FLOW (FCF) R$ million 4Q23 3Q23 4Q22 2023 2022 Adjusted EBITDA¹ 1,683 1,352 1,905 6,322 7,931 (-) Capex² (1,011) (1,093) (1,582) (4,307) (5,817) (-) Lease contracts - IFRS 16 (85) (80) (66) (288) (233) (-) Interest Paid/Received (423) (111) (21)
Slide 11: Net Debt and Leverage
Earnings Presentation 4Q23 ri.klabin.com.br NET DEBT AND LEVERAGE Leverage remains within the parameters of the Financial Indebtedness Policy² Position in 12/31/2023 (R$ billion) Gross Debt R$ 30.9 Cash³ R$ 10.7 Net Debt R$ 20.2 4.0 4.2 3.6 4.0 4.0 3.2 3.0 2.7 3.2 3.3 2.7 2.7 2.7 2.6 2.8 3.3 3.1 2.9
Slide 12: Amortization Schedule
Earnings Presentation 4Q23 ri.klabin.com.br AMORTIZATION SCHEDULE Robust cash position and elongated debt profile. Cash of US$ 0.9 billion for payment of the Caetê Project 13,136 4Q23 4Q22 Revolving In months Credit 2,421 US$ Average Debt Maturity 94 99 Facility¹ 40% 60% % p.y. R$ 6,177 5,945 Cost o
Slide 13: Dividends & IOC
ri.klabin.com.br Earnings Presentation 4Q23 DIVIDENDS & IOC R$ million considering accrual basis Dividend 2,7% 6.8% 5.7% Yield¹ 1,624 1,340 2022 2023 Dividends + IOC (R$ milhões) Dividends + IOC 4Q23²: R$ 363 millions Dividend Policy³: Target between 15% and 25% of Adjusted EBITDA 1 – Calculated bas
Slide 14: ESG Highlights
ri.klabin.com.br Earnings Presentation 4Q23 ESG HIGHLIGHTS Advances strengthen Klabin's leadership in sustainability CDP 3rd consecutive year on the CDP Triple A list, being the only company in Latin America to obtain this recognition Dow Jones Sustainability Index Global Portfolio 4th consecutive y
Slide 15: Expected Trend
ri.klabin.com.br Earnings Presentation 4Q23 EXPECTED TREND¹ Negative Neutral Positive Demand Price trend trend trend Short Fiber PULP Long Fiber/Fluff Coated Board PAPER Kraftliner Corrugated Boxes PACKAGING Industrial Bags 1 – Adjusted by production mix and sales geography 15
Slide 16: ri.klabin.com.br
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