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Klabin reports growth in net revenue, sales volume and EBITDA in the first quarter of 2017

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Adjusted EBITDA in the first quarter of 2017 stood at R$539 million, up 5% from the same period in 2016.

· Total sales volume in 1Q17 reached 759,000 tonnes, up 67% from 1Q16.

· Net sales revenue grew 28% in the first quarter of this year compared to the same period last year, totaling R$ 1,867 million.

 Klabin, Brazil’s largest paper producer and exporter, the leading manufacturer of paper and board for packaging, corrugated board packaging and industrial bags, and the only company in Brazil to produce hardwood, softwood and fluff pulp in the same plant, registered yet another quarter of growth in financial results. The company recorded Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of R$ 539 million in the first quarter of 2017, for growth of 5% from the same period in 2016.

Total sales volume came to 759,000 tonnes (excluding wood) in the first quarter of this year, an increase of 67% from the same quarter last year, driven mainly by sales of pulp produced by the Puma Unit and by conversion products. Net sales revenue totaled R$1,867 million in 1Q17, up 28% from the same period in 2016. The recent acquisitions in the corrugated board market - Embalplan (Rio Negro – PR) and Hevi Embalagens (Manaus – AM) – combined with the flexibility of Klabin’s product line and the consistent growth in industrial bag exports, as reflected in the sales of conversion products, which increased 13% from the first quarter of 2016 to reach 186,000 tonnes.

Sales volume of pulp produced by the Puma Unit in the first quarter of the year remained stable in comparison with the fourth quarter of 2016. Despite the first maintenance shutdown in March 2017, the Company registered pulp sales of 301,000 tonnes in 1Q17, which included 225,000 tonnes of hardwood pulp and 76,000 tonnes of softwood and fluff pulp. In the first two months of the year, the Unit significantly progressed in its learning curve by registering production at over 90% of its nominal capacity. After this maintenance shutdown, the plant is prepared to reach 100% capacity utilization, further reducing pulp production costs.

Investments

Klabin invested R$251 million in 1Q17, with R$99 million going to the Puma Unit, R$43 million to forest operations, R$90 million to operational continuity of plants and R$19 million to special projects and expansion, all aimed at improving the Company’s performance across its operating segments. ​

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