Celulose Irani presents its adjusted EBITDA of R$ 43.7 million in 1Q15 32.2% greater than in 1Q14

The Net profit in 1Q15 was R$ 3.1 million, reversing a loss of R$ 3.2 million in 1Q14 

Porto Alegre, April 30, 2015 - Celulose Irani enters the first quarter of 2015 with consistent results, despite a challenging economic environment. In the quarter, the adjusted EBITDA totaled R$ 43.7 million, representing an increase of 39.2% compared to 1Q14, with a margin of 23.9%, demonstrating a good operational performance achieved in the period.

The result is due to the sales volume of the Corrugated Cardboard Packaging segment, which was stable when compared to the same period last year, combined with better cost behavior.  The Resins segment showed an increase of 27.8% in sales volume in 1Q15 compared with 1Q14 and ended the period with 2.8 thousand tons.

Meanwhile the Packaging Paper segment, fell by 11.1%, totaling 17.7 thousand tons when compared with 1Q15 and 1Q14. In the first three months of the year, net sales grew 1.6% compared to the same period of 2014 and reached R$ 182.7 million. The result reflects the good performance of the operations in the period due to cost control and by price increases, especially for exported products. The prices of exported products were helped by the stronger dollar. Gross income for the period was R$ 55.3 million, 28.3% higher than 1T14, and the cost reduction and improvement in the margin, were the main factors for the increase.

The Net debt/EBITDA ratio was 4.37 times in March 2015, impacted by the appreciation of the dollar. The cash position at the end of 1T15 was R$ 99.6 million and 79% of the debt is long term.

Revenue per Segment - The Corrugated Cardboard Packaging segment - IRANI´s primary operational segment - was responsible for 66% of the consolidated net revenue in the first quarter, followed by the Packaging Paper and Forestry RS and Resins Units with 25% and 9% of the total. The principle market is the Brazilian domestic market, which accounted for 83% of total net revenue, exports reached R$ 30.3 million, an increase of 16.9% compared to 1T14, reflecting the appreciation of the dollar in the period. The main destination was Europe, concentrating 43% of export revenue.

Net Income - In the first three months of the year, the net income was R$ 3.1 million positive, compared to R$ 3.2 million negative in 1T14. In the last twelve months the net income totaled R$ 62.9 million compared to R$ 60.6 million in the same period of the previous year.

About Celulose Irani - The Company was established in 1941 and has been controlled by the Habitasul Group since 1994, a traditional Business Group in Southern Brazil, Celulose Irani is today one of the leaders in Corrugated Cardboard in Brazil, besides being a reference in the Packaging Paper industry (rigid and flexible).

With its integrated production, its own forests, self-generated energy and constantly updated machinery and equipment, IRANI produces packaging paper, sheets and corrugated cardboard packaging, pine resins, rosin and turpentine, ensuring the supply of products from renewable raw material with high quality and competitiveness.

In October 2013 IRANI increased its social capital in which the Industria de Papel e Papelao Sao Roberto S.A., a traditional Company in the sector, was integrated into the operations as a subsidiary, enhancing the Packaging Paper and Corrugated Cardboard Packaging business. In December 2014, Sao Roberto merged with IRANI.

Since then, Celulose Irani has six business units:  Packaging Paper - Vargem Bonita (SC) and Santa Luzia (MG), Corrugated Cardboard Packaging - Vargem Bonita (SC), Indaiatuba and Sao Paulo (SP) and Resins - Balneario Pinhal        (RS), besides forests in Santa Catarina and Rio Grande do Sul, and offices in: 

Porto Alegre (RS) and Joacaba (SC). Companies controlled by IRANI: Irani Trading SA, Habitasul Forestry SA., HGE - Geracao de Energia Sustentavel Ltda (in a pre-operational phase) in Porto Alegre (RS) and Iraflor Comercio de Madeiras Ltda. in Vargem Bonita (SC).

Additional information.

Adriana Cardoso - - (11) 5105-2240
Raquel Bertani - - (11) 5105-2258



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