Suzano registers net loss of R $ 247,5 million in 2T13

8/14/2013-Suzano Papel e Celulose, one of the largest integrated pulp and paper producers of Latin America, announced this Tuesday (13), the consolidated results of the 2nd quarter of 2013 (2T13) and of the first six months of the year.
Suzano's net revenue in 2T13 was r $ 1,359 .2 billion. The total sales volume of pulp and paper in the quarter showed an increase of 6.2% compared with the 1T13, and 5.7% reduction in relation to 2T12, reaching 754.8 metric tons.
The behavior of total net revenue, compared to 2T12, is explained mainly by factors: increase in the average net price of +3.8% in dollar pulp and +9.6% in real; increase of 7.1% on the average net price in real paper; 5.7% reduction in the volume of sales of pulp and paper, due to the lower volume of exported paper; participation of the internal market in sales mix: 67.7% in 2T13 compared to 61.2% in 2T12; variation of the real against the dollar: real depreciation in 5.6% (average exchange rate) compared to the impact on revenue 2T12 from exports.
Year to date, the Suzano's net revenue was r $ 2, 508.3 billion. The total sales volume of pulp and paper in the first half was 3.9% lower than the first half of 2012, reaching .7 1,465 tons.
The average net price of cellulose was 16.8% higher than the 6M12 and the paper presented growth of 7.5% in the period.
The cash generation, as measured by Ebitda (earnings before interest, taxes, depreciation and amortization) totaled r $ 515 million in 2T13, with 38.6% margin compared to the net income of the period.
Ebitda Adjusted for non-recurring items amounted to r $ 408.1 million in 2T13, with 30.6% margin. Among the factors that affected Ebitda and operating margins in the year of 2013 in relation to 6M12 are: reduction of sales volume (3.9%) offset by the increase in the average net price in reais of papel e celulose (+10.6%); 9.1% depreciation of the real against the dollar, with impact on revenue from exports; reduction of the CPV in lower cost logistical functiondue to the lower volume sold, and lower cost with a stop for maintenance, partially offset by higher wood costs and inputs; reduction of cost of sales, General and administrative; and non-recurring resources from the disposal of the stake in Capim Branco Energy Consortium.
The company recorded a net loss of R $ 247,5 million in 2T13 compared to the net loss of R $ 264.3 million in 2T12 and net income of r $ 41.9 million in 1T13. In addition to the operational factors that affected Ebitda at 2T13 in comparison with the 2T12, the net result was negatively impacted by exchange rate variations during the period.
Maranhão Unit
Suzano is still investing in its production unit in the State of Maranhão, one of the most modern pulp mills in the world, with a capacity of 1.5 million tons/year of eucalyptus market pulp. The start-up of the plant is planned for the fourth quarter of 2013.
The construction of the pulp in Maranhão has about 12 thousand people working in forestry training and industrial construction. On July 13, was hit 90% of general physical progress of the work.