Klabin's investments triple in the 2nd Tri of 2019 to R $581 million

São Paulo – Klabin invested R $581 million in the second quarter of 2019, triple the reported one year earlier, when R $193 million were entered. The result also implies an increase of 95.6% before the volume contributed in the first quarter of R $297 million. In the accumulated semester, the company invested a total of R $877 million, twice the sum invested in the first six months of last year, of R $423 million. Of the total employed by Klabin from April to June 2019, R $92 million were destined for forestry operations, R $144 million to the operational continuity of the factories and R $57 million were applied in special projects and expansions. During the period, the company also initiated disbursements related to the Puma II expansion Project, which in the quarter totaled R $288 million. In the results report, Klabin explains that during the quarter the project advanced according to the schedule, ending the second month of work, "with 85% of the main processes that compose the new production line already contracted. In addition, the company initiated the civil construction of the areas for the paper machine, fibre line, boiler, among others, according to the previously planned ". Free Cash Flow In the second quarter, the company recorded a adjusted free cash flow, which disregards discretionary factors, of R $368 million, positively boosted by the increase in adjusted EBITDA in the annual comparison. According to the company, the early liquidation of Refis impacted the working capital negatively on R $328 million, in an extraordinary way. In addition, the liability management process implemented by the company punctually impacted the amount of interest paid and received, with expenses of the order of R $165 million in the quarter due to the financial restructuring processes. Between January and June of this year, the expenses related to Klabin's financial restructuring process totalled about R $260 million.