A Y E A R O F
POSITIVER E S U L T S
beyond
E X T E R N A L F A C T O R S
LTM² (R$ BILLION)
1.9
1.5
22..22
33..00
Dec-14 Mar-15 Jun-15 Sep-15
Average FX
(R$/US$)
2.35 2.48
2.69
3.01
+28%Pulp
(US$/TON)
745
741
748
768
+3%¹Operating cash generation in the last 12 months considers Adjusted EBITDA less sustain CAPEX
²Last 12 months
NET REVENUE
LTM (R$ BILLION)
9.7
7.3
5.7
Dec/13 Dec/14 Sep/15
Exports
(%)
52%
58%
68%
Domestic
Market (%)
48%42%
32%
distributed by |