IRANI shows a growth of 21% in net revenues and reaches R$ 174,7 million in 2Q14

Porto Alegre, August 5, 2014 - Celulose Irani, one of the leaders in the Corrugated Cardboard sector in the country and reference in the Packaging Paper sector, closed the second quarter with a net income of R$ 174.7 million, representing an increase of 21% over the second quarter of 2013.

The main factor behind this growth was the integration of the sales of the Corrugated Cardboard Packaging area of the Industria de Papel e Papelao Sao Roberto S.A. (SP) to IRANI's business. In line with the net income is the adjusted EBITDA, which also showed an increase, in this case 10.3% higher than 2Q13, and it totaled R$ 34.6 million in the quarter.

The sales volume of the Corrugated Cardboard Packaging segment progressed well when compared to 2Q13 and totaled 47.20 thousand tons. The increase presented by IRANI, 39.5%, is higher than the market outlook - the Brazilian Association of Corrugated (ABPO) data fell by 3.4% in the same period - also due to the integration of the Sao Roberto plant.

In contrast, the Packaging Paper segment decreased 37.9% and ended the quarter with 17.1 thousand tons. The reduction was due to sales for the subsidiary Sao Roberto which, from 1Q14, were eliminated on consolidation from the integration of the business into the IRANI operations.

The sales volume of the resins segment also decreased by 12.5% and reached 2.2 thousand tons. In this case, production suffered due to a variation in the supply of gum rosin resin on the spot market.

In the second quarter the Company raised U$ 70 million through a pre-paid export operation, which will be used to finance the working capital needs of the Company's exports. The amount must be paid by IRANI in up to seven years.

Aiming to continue growing with value, IRANI made investments of R$ 30.245 million this quarter. The main investment made in the period consisted of the expansion and modernization of Paper Machine I (MP I), which added 3,000 t/ per month to the total paper production, from July. Another highlight of the second quarter was the signing of the Letter of Intent with the Government of the State of Santa Catarina for the expansion of the industrial unit located in Vargem Bonita (SC). The planned investment is approximately R$ 600 million spread over five years.

Revenue by segment - The Corrugated Cardboard Packaging (PO) segment- Celulose Iran’s main business segment - accounted for 68% of the net revenue in 2Q14, followed by the Packaging Paper segment, with 24% and the RS Forestry and Resins, with 8% of the total. The principal market still is the domestic market which corresponded to 87% of net revenue. In the foreign market's IRANI´s main customers are in Europe (51%), South America (26%), Asia (18%) and Africa (5%).

About Celulose Irani - The Company was established in 1941 and has been controlled by the Habitasul Group since 1994, a traditional Business Group in Southern Brazil, Celulose Irani is today one of the leaders in Corrugated Cardboard in Brazil, besides being a reference in the Packaging Paper industry (rigid and flexible).

With its integrated production, its own forests, self-generated energy and constantly updated machinery and equipment, IRANI produces packaging paper, sheets and corrugated cardboard packaging, pine resins, rosin and turpentine, ensuring the supply of products from renewable raw material with high quality and competitiveness.

In October 2013 IRANI increased its social capital in which the Industria de Papel e Papelao Sao Roberto S.A., a traditional Company in the sector, was integrated into the operations as a subsidiary, enhancing the Packaging Paper and Corrugated Cardboard Packaging business.

Since then, Celulose Irani has six business units:  Packaging Paper - Vargem Bonita (SC) and Santa Luzia (MG), Corrugated Cardboard Packaging - Vargem Bonita (SC), Indaiatuba and Sao Paulo (SP) and Resins - Balneario Pinhal      (RS), besides forests in Santa Catarina and Rio Grande do Sul, and offices in Porto Alegre (RS), São Paulo (SP) and Joacaba (SC). Companies controlled by IRANI: Irani Trading SA, Habitasul Forestry SA., HGE - Geracao de Energia Sustentavel Ltda (in a pre-operational phase) in Porto Alegre (RS) and Iraflor Comercio de Madeiras Ltda. in Vargem Bonita (SC) and Sao Roberto in Sao Paulo (SP).


Additional information.

Marília Borges – - (11) 5105-2238
Aline Moreira – – (11) 5105-2254




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