The adjusted EBITDA was R$ 27,044 thousand in the period with a margin of 21.8%
Sao Paulo, May 2013 -Celulose Irani, a company that is a reference in the Brazilian market for corrugated cardboard and packaging paper, presented in Q1 2013 a Net Operating Income of R$ 123.8 million, 7.8% higher than the same period of 2012. The result was influenced by the recovery of prices in corrugated packaging, the appreciation of the real against the dollar and the increase in sales volume of packaging paper. This increase is already a consequence of the commencement of operations of the Santa Luzia (MG) plant, on March 1, 2013, leased to IRANI by São Roberto S.A.
The domestic market remains the focus of operations of the Company and represented, in the first quarter, 84.9% of total net operating revenues (5.8% greater than 1Q12).
The cash generated by operating activities, as measured by the adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 27,044 thousand, with a margin of 21.8%, recording a decrease of 4.1% compared to the same quarter last year. "These changes are related to increased costs and expenses from the beginning of 2013, especially in relation to staff, which was not accompanied by increased selling prices and margins of products," explains Odivan Cargnin, Director of Administration, Finance and Investor Relations at IRANI.
Net income for the quarter was R$ 3,552 million with an increase of 1.6% compared to 1Q12.
The consolidated net debt totaled $ 327.8 million at March 31, 2013 and the net debt/EBITDA ratio reached 2.87 times due to the payment of interim dividends in this quarter and the implementation of investments.
Segments - The CC Packaging Segment (Corrugated Cardboard) represented 55% of the Net Operating Revenue, followed by the Packaging Paper segment, with 37%; Forestry RS and Resins, with 8%.
In 1Q13, 30 000 tons of corrugated cardboard were sold, stable compared with the same quarter of last year. The growth in sales volume, in tons of corrugated cardboard (ABPO) -was 3.9% in this same period.
The emphasis was in the production of packaging paper segment, which grew 11% in 1Q13 over 1Q12 and 9.2% in relation to 4Q12. Sales also showed an increase of 14.3% over the same period last year and 8.3% compared to 4Q12.
A greater supply of rosin in the market of the southern region boosted the growth of production and the sale of rosin and turpentine in 1Q13. Production and sales volumes increased by 18.0% and 34.4% respectively compared to 1Q12.
About Celulose Irani
The Company was established in 1941 and controlled by the Habitasul Grupo since 1994, a traditional Business Group in the South of the country, Celulose Irani is today considered one of the largest companies in the packaging paper and corrugated packaging sector.
With integrated production, its own forests and machinery and equipment that are constantly updated, IRANI produces pulp and packaging papers, sheets and corrugated packaging cartons, resins for the domestic and international markets, ensuring the supply of products from a high quality renewable raw materials source. It has as its expertise the security and excellence in providing renewable forest-based products. In its practice is the absolute respect for the environment and people.
IRANI has its headquarters in Porto Alegre (RS) and has four business units: Paper - Vargem Bonita (SC) Packaging - Vargem Bonita (SC) and Indaiatuba (SP), and Resins - Balneário Pinhal (RS) and forests in Santa Catarina and Rio Grande do Sul, and offices in Porto Alegre (RS), São Paulo (SP) and Joaçaba (SC). Companies controlled by Irani: Irani Trading SA, Habitasul Forestry SA and HGE - Geração de Energia Sustentável Ltda (in a pre-operational phase) in Porto Alegre (RS) and Iraflor Comércio de Madeira Ltda. in Vargem Bonita (SC).