Klabin (KLBN11) reported net profit of R$460 million in the first quarter of 2023 (1Q24), an amount 64% lower than reported in the same period of 2023, the company reported on Thursday morning. (25).
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled R$1,652 billion in the first quarter of 2024, a decrease of 15% compared to the first quarter of 2023.
Analysts, on average, expected a net profit of R$583 million in the period and EBITDA of R$1.64 billion, according to LSEG data.
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Adjusted EBITDA margin reached 37% between January and March of this year, down 3 percentage points compared to the margin recorded in the first quarter of 2023.
Total net revenues amounted to R$4,430 billion in the first quarter of 2024, a decrease of 8% compared to the same period in 2023, mainly reflecting lower pulp and kraftliner prices, as well as the appreciation of the real against the dollar in this period. , partially offset by the increase in total volume sold.
The cash cost of pulp production was R$1,263 per ton in 1Q24, a decrease of 7% compared to 1Q23.
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The net financial result was negative R$378 million in the first quarter of 2024, reversing the financial gain of R$58 million from the same phase in 2023.
As of March 31, 2024, the company's net debt amounted to R$21,350 billion, an increase of 2% compared to the same point in 2023.
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The leverage index, measured by net debt/EBITDA, was 3.5 times on March 23, an increase of 0.9 percentage points compared to the same period in 2023.
Klapin approves dividends
The Board of Directors approved a dividend of R$330 million, an amount equivalent to common and preferred shares, at R$0.05970763088 per share and R$0.29853815440 per unit.
They will be entitled to receive dividends in accordance with their shares in the capital of Klabin at the close of trading session B3 – Brazil, Bolsa and Balcao on May 3, 2024 (the Key Date) and the trading of the shares and units will begin. “Ex-dividend” as of May 6, 2024.
The dividend will be paid on May 16, 2024.
The company also elected Horacio Laver Piva as Chairman of the Board of Directors and reappointed Cristiano Teixeira as CEO of the company.
