Fibria’s net revenue totaled R$4,047 million ($1.3 billion) in 4Q 2017, 42% more than in 3Q 2017, due to the 29% growth in sales volume, the 8% increase in the average net pulp price in dollars and the 3% appreciation of the average dollar against the real. Compared to 4Q 2016, revenue climbed 60%, thanks to the 36% upturn in pulp prices in dollars and the 20% increase in sales volume, as the company said in the press release received by Lesprom Network.
Adjusted EBITDA was R$1,981 million ($660 million) in 4Q 2017, with a margin of 57% (excluding revenue from the agreement with Klabin). The 58% quarter-on-quarter upturn was caused by higher sales volume, increased pulp prices in dollars and the appreciation of the average dollar against the real, partially offset by the rise in cash COGS, following the volume impact from the new Horizonte 2 line and higher expenses with freight. Compared to 4Q 2016, adjusted EBITDA moved up 146%, driven by the 36% increase in the average net price in dollars and higher sales volume, in turn caused by the evolution of the ramp-up at the new Horizonte 2 line, partially offset by the rise in cash COGS.
Fibria recorded net income of R$280 million ($93.3 million) in 4Q 2017, versus net income of R$743 million ($248 million) in 3Q 2017 and a loss of R$92 million ($30.7 million) in 4Q 2016.
Annual net income totaled R$1,093 million ($364 million), versus net income of R$1,664 million ($554 million) in 2016. The proposed minimum mandatory dividend to be distributed will be R$258 million ($86 million), which will be decided at the Annual General Meeting, scheduled for April.
Fibria is a Brazilian forestry company and the world’s leading eucalyptus pulp producer.
