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APIMEC | 2011
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2
Agenda
01 | Strategy
02 | Forestry
03 | Paper
04 | Pulp
05 | Maranhão Unit
06 | Biotechnology
07 | Suzano Renewable Energy
08 | Financial Results
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3
Strategy – Suzano 2024 Plan
Forestry competency consolidates the pulp business and enables new business opportunities in Biotechnology and Renewable Energy
Operational
excellence in
paper
Wood pellets
Organic
growth
in pulp
Biotechnology
Forestry
Competency
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Mission
Suzano’s mission is the base for its strategy
Mission
To offer renewable forestry-based, pulp
and paper products, while being globally
recognized for developing innovative
solutions and continually seeking excellence
and sustainability in our operations.
4
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2011
Sustainability
Management and stewardship techniques as well as human resources qualifications of own employees and third-parties led us to achieve many awards
First Brazilian company and first pulp and paper company to achieve the ISSO 14001 certification
First national industry to receive the National Quality Award
Carbon Footprint - 2nd consecutive year in pulp and paper (PAS2050 methodology)
Mucuri Unit: Millennium Business Award for Environmental Achievements, awarded by the United Nations
FSC – Forest Stewardship Council
Cerflor certification
Corporate Sustainability Index (ISE) – 7th consecutive year
5
2010 2008 2004 2001 2000 1996
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6
Agenda
01 | Strategy
02 | Forestry
03 | Paper
04 | Pulp
05 | Maranhão Unit
06 | Biotechnology
07 | Suzano Renewable Energy
08 | Financial Results
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Forestry Assets
Suzano’s forestry expertise, developed over years of consistent investments in R&D, allows the Company to expand its forestry assets to a new frontier: the northeast region of Brazil
2011
Total area (tsd ha)1 800
Total planted area (tsd ha) 2 446
Own planted area (tsd ha) 1 343
Forest Partnership Program (tsd ha) 103
Own Preserved Area (tsd ha) 1 299
Average Distance in Bahia (km) 75
Average Distance in São Paulo (km) 246
Base 9/30/2011 1 Own and leased areas 2 Figures consider own, leased and third-parties areas
2011
Annual planting (tsd ha) 90
Planted seedlings / day (tsd) 368
Total: 188 tsd ha
Planted: 118 tsd ha
Total: 226 tsd ha
Planted:
131 tsd ha
Total: 385 tsd ha
Planted: 94 tsd ha
SP
BA, ES and MG
MA, PI and TO
SP
MG
BA
ES
TO
PI
MA
7 Note: Both own and leased land may suffer variation up to 5% quarter over quarter.
The total amount can differ due to rounding.
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Forestry Competitiveness
Suzano’s innovation present in its DNA, responsible forest management and operational excellence enabled the leverage of competitiveness
Investments in technology guarantee a highly
diversified genetic portfolio, which is suitable for
different regions
+ 14 thousand clones developed | 800 field trials | 4 thousand hectares
Genetic enhancement
Biotechnology
Forestry management
Sustainability
Operational excellence
Productivity + +
8
Evolution of Maranhão forests
80’s 90’s 00’s 10’s
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Precise Silviculture
Technology allows for better-quality, lower-cost planting, reinforcing the commitment to competitiveness and sustainability
New techniques for weed control
New chemicals and fertilizers
Adoption of biodegradable products
Other initiatives
Precision in chemicals and fertilizers
application
Mechanization
Planting Irrigation Better usage of chemicals and fertilizers due to the
adoption of new equipment and dereferenced data
9
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Forest Management
Top technology initiatives for forest monitoring supply high quality information for better operation management
Aerial Monitoring
To identify areas with leafy
trees
Planted area stratifications
and qualitative census
Land relief representation
Good
Coverage
Medium
Coverage
Low
Coverage
10
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Forestry Technology
Nurseries with high technology standards garantees production efficiency
Suzano’a pioneering and innovation
enable the development of extensive
genetic base and improvement of
stewardship techniques
Highly qualified forestry technology
team(42 researchers: 2 PhDs and 8
Masters Degrees)
Suzano/Futuragene technology center
Technology Center
Nurseries (85mm total seedling capacity)
Suzano
Seedling
capacity of
12mm
Limeira
Seedling
capacity of
8mm
Mucuri
Seedling
capacity of
20mm
Maranhão
Seedling
capacity of
15mm
Piauí
Seedling
capacity of
30mm
Brazil’s most
modern nursery
11
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12
Agenda
01 | Strategy
02 | Forestry
03 | Paper
04 | Pulp
05 | Maranhão Unit
06 | Biotechnology
07 | Suzano Renewable Energy
08 | Financial Results
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Paperboard 2nd in Brazil
Paper Assets Operational excellence in paper: revenue and products portfolio management,
asset optimization, and strengthening of distribution channels
658 591 643 733
504 524 513 518
1,162 1,115 1,156 1,251
2008 2009 2010 LTM
Sales Volume (tsd ton) Sales Destination – LTM1
Others
Europe North Am.
South/Central Am. Brazil 59%
3%
17%
9% 12%
Domestic Market Exports
Leadership in printing & writing and white paperboard in South America
More than 90% integrated production (pulp + paper)
Fx hedge: approximately 65% of paper revenue in local currency
Lower price volatility in the domestic market
Paper merchants: KSR e SPP NEMO: largest in Latin America Stenfar: top 5 in Argentina
26%
Paper
Printing & Writing
Coated 1st in Brazil
Uncoated 2nd in Brazil
30%
19%
13 1 LTM - last 12 months ending on 9/30/2011
Suzano Market Share in the Domestic Market – LTM1
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Focus in the Domestic Market Lower price volatility, better margins and important cash flow generator
Pap
erb
oard
P
rin
tin
g &
Wri
tin
g
Average Net Price (base 100 in Oct/2008)
Paperboard
Domestic Market
Market dominance in high value added segments
Low level presence of imports
Growth of the consumer industry
Printing & Writing
Domestic Market
Imports: high concentration of coated
Exchange rate’s effects
Fiscal control of Immune paper operations
60
80
100
120
140
Oct-08 Mar-09 Aug-09 Jan-10 Jun-10 Nov-10 Apr-11 Sep-11
Domestic
Market
92
Exports
106
60
80
100
120
140
Oct-08 Mar-09 Aug-09 Jan-10 Jun-10 Nov-10 Apr-11 Sep-11
Domestic
Market
103
Exports
115
14 Note: Prices of domestic market in R$; prices of exports in US$
Average Net Price (base 100 in Oct/2008)
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Paper Market Growth
Economic growth in emerging markets favours paper consumption
1 Woodfree Printing & Writing paper I 2 Latin America excluding Brazil I 3 Paperboard + liquid packaging board
Source: RISI and Poyry (nov/2011)
Global
2011e Paper Demand (tsd ton)
2,989
Uncoated
Paperboard3
Coated
972 1.837
2.366 54.180
2,017 { 652
1,365
Printing &
Writing1
Brazil
4,994
1,816
812
2,366
Latin America2
3,178 { 2.366
128,601
46,948
27,473
54,180
{ 81,653
CAGR 2011e – 2016e Brazil Latin America2 Global
Paperboard3 +3.3% +3.8% +3.0%
Printing & Writing1 +3.4% +3.2% +1.0%
Coated +3.2% +3.3% +1.0%
Uncoated +3.5% +3.2% +1.1%
15
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Paper Demand Growth Drivers
Historically there is a high correlation between GDP and paper consumption
1 Excluding China and Japan
Source: 2010 paper consumption data from Poyry (nov/2011) and 2010 GDP per capita information from World Bank (sep/2011)
China
68 kg/ha/year
GDP per capita:
US$ 4 tsd
EUA
233 kg/ha/year
GDP per capita: US$ 47 tsd
India
9 kg/ha/year
GDP per capita: US$ 1 tsd
Brazil
47 kg/ha/year
GDP per capita: US$ 11 tsd
16
North America
226 kg/ha/year
Latin America
44 kg/ha/year
Asia1
19 kg/ha/year
Europe
Western: 185 kg/ha/year
Eastern: 47 kg/ha/year
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Coated Paper
The share of coated paper imports is high as Brazilian production does not completely meet demand
Coated Paper Production and Demand (tsd ton)
Imports share in the Brazilian Market (%)
Measures adopted by the
Brazilian authorities to reduce
deviation use for tax exempt
paper and BRL depreciation
helped decreasing imports
market share
317 304 285 294
182
450 525
486
632
432
2007 2008 2009 2010 9M11
Production Demand
40% 44% 47%
57%
70% 69% 72% 66%
56% 60%
55% 56% 53%
2007 2008 2009 2010 jan-11 fev-11 mar-11 abr-11 mai-11 jun-11 jul-11 ago-11 set-11
2.00 1.95 1.84 Average
R$/US$ 1.76 1.68 1.69 1.66 1.59 1.61 1.59 1.56 1.60 1.74
RECOPI1
Licença não
automática Fees
17
1 Brazilian Government Program to control tax exempt paper imports
Source: Bracelpa
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18
Agenda
01 | Strategy
02 | Forestry
03 | Paper
04 | Pulp
05 | Maranhão Unit
06 | Biotechnology
07 | Suzano Renewable Energy
08 | Financial Results
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Pulp Assets
Sustainable and organic growth: presence in main international markets and strategic relationship with clients
Technical support in each international office:
China, Switzerland and USA
80% of total sales with long term contracts
More than 150 active clients
Strategic long-term partnerships with clients:
Logistics
Technology
Pre and post sale technical assistance
Strategic focus on high value added segments
Sales Volume (tsd ton)
Printing &
Writing
Tissue
Special
Others
Sales per Segment – LTM1
Europe
Asia
North Am.
South/Central Am.
Brazil
Pulp Sales Destinations – LTM1
20%
34%
34%
1%
11%
32%
37%
23%
8%
232 261 297 346
1,089
1,519 1,310 1,366
1,321
1,780 1,607
1,712
2008 2009 2010 LTM
Domestic Market Exports
19 1 Note: LTM - last 12 months ending on 9/30/2011
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22
3
9
16
2011e
207
29 45
114
2011e
Pulp Organic Growth Fundamentals
Market pulp accounts for 13% of total fibers for paper production
20 20
1 Bleached Eucalyptus Kraft Pulp | 2 Bleached Hardwood Kraft Pulp | 3 Bleached Softwood Kraft Pulp
Source: Poyry (nov/2011) and Suzano
Mill
ion t
on
Printing &
Writing
Tissue
Paperboard
Corrugated
Newsprint
Others
395
Production (MM ton)
Minerals
51%
49%
72%
28%
8%
8%
128
50
Virgin fiber
Recycled
185
178
Global
production of
paper
Total fiber
consumption
363
395
BSKP3
50
Others
BHKP2
BEKP1
Pulp and Paper Production Chain – 2011e
Integrated
pulp
Market pulp
Market Pulp Demand opportunities:
1% reduction in recycled paper =
+1,9 MM ton/year of market pulp
1% reduction in integrated capacity =
+1,3 MM ton/year of market pulp
2% growth in paper consumption =
+1,0 MM ton/year of market pulp
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Pulp Organic Growth Fundamentals
Demand for paper and paperboard is forecasted to grow 42 million tonnes (2010-2015e)
21 21 21
Paper and paperboard demand forecast until 2015e
0
50
100
150
200
250
300
350
400
450
1995 2000 2005 2010 2015e
Others1
Mill
ion t
on
Latin America1
Others Asia1
China1
Japan
Eastern Europe1
Western Europe
North America
CAGR: 2.1% p.a. Emerging economies: +4.3% p.a.
CAGR: 2.2% p.a. Emerging economies: +5.7% p.a.
1 Emerging economies includes Latin America, Asia (except for Japan), Middle East, Oceania, Africa and Eastern Europe
Source: Poyry (nov/2011)
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Sack
20% 40% 100% 60% 80%
Pulp Organic Growth Fundamentals
Paper demand forecast is growing for grades that are Eucalyptus fiber users over the next years
22 22 22
Main BEKP end-users
1.5
0.0
-1.5
3.0
4.5
-3.0
Uncoated
mechanical
News-
Coated
woodfree
Other
Grades1
Tissue Carton
board
Container board
CA
GR
20
11e –
20
16
e
(% p
.a.)
Uncoated
woodfree
Coated
mechanical
Paper demand forecast: CAGR (2011e – 2016e) 2.0% p.a.
1 Other grades includes special paper segment
Source: Poyry (nov/2011)
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43 44 45 47 47 47 48 50 51 52 53 54
9 10
11
13 14
16 16 17
18 19
20 21
12 11
11 10 9 9 10 9 9 9 9
21 22 22 23
22 22 23
24 24 24 24 24
0
10
20
30
40
50
60
0
5
10
15
20
25
30
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Market BEKP Other BHKP BSKP
Pulp Organic Growth Fundamentals
Eucalyptus pulp has replaced other short fibers and the actual price spread between hardwood and softwood should continue to favor this replacement
23 23 23
Vo
lum
e b
y fib
er
typ
e
(mill
ion
to
nn
es)
CAGR BEKP: +9.7%a.a | Other BHKP: -3.8%a.a.
.
CAGR BEKP: +5.5% a.a. | Other BHKP: -1.1%a.a.
Market Pulp Demand Projections (2011e – 2015e)
To
tal M
ark
et V
olu
me
(millio
n to
nn
es)
1 Bleached Eucalyptus Kraft Pulp | 2 Bleached Hardwood Kraft Pulp | 3 Bleached Softwood Kraft Pulp
Source: Suzano and data from Poyry (nov/2011) and PPPC (sep/2011)
1 2 3
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Brazilian Competitiviness Suzano is in the lowest cash cost region
BC
625
Eastern
Canada
619
678
France
601 533
Sweden
592
Japan Finland
577
700
Russia
379
Japan
646
China
581
Canada
567
France
527
USA USA BC
Coast
444
Chile
519
Sweden
508
Finland
484
Iberia
443
Indonesia
417
Chile
368
Brazil
330
15,8 million tonnes 8,5 million tonnes 15,4 million tonnes
Low Cost High Cost High Cost Low Cost
2,9 MM ton
Hardwood Softwood
24
Source: Hawkins Wright (Oct/ 2011)
Cash Cost CIF / Europe (US$/tonne)
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Industry Balance
The cyclic dynamic is driven by supply and demand imbalances with adjustments in the chain
25 25 25
Pulp
price
increase
New
capacity
Supply
increase
Supply
decrease
High cost
capacity
closings
Favorable
scenario
Followed by demand
Supply Demand
Not followed by demand
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26
Agenda
01 | Strategy
02 | Forestry
03 | Paper
04 | Pulp
05 | Maranhão Unit
06 | Biotechnology
07 | Suzano Renewable Energy
08 | Financial Results
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Maranhão Unit
State of the art facility technology and top tier suppliers contracted
27 27 27
8
1. Fiber lines
2. Dryer
3. Evaporation
4. Boilers
5. Lime kiln
6. Wood yard
7. Cooking
10. Water treatment
11. Effluent treatment
8. Turbo generators
9. Energy distribution and substation
Conceptual engineering
Basic engineering
Detailed engineering:
BOP1 and infrastructure
Management of BOP1
implementation and
infrastructure
9
1 Balance of Plant
Fonte: Poyry and Suzano
11
2
1
7 3
4
6
5
10
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Maranhão Unit Schedule
Track record of successfully executing projects on schedule, implementing business plans and meeting budgets
28 28 28
Market study
Preliminary feasibility
study
Conceptual engineering
General planning
Purchases
Construction and
assembly
Commissioning
Phase IV
Start up
4Q13
Forestry
Purchase of land, licenses, permissions and
plantations
Industrial, port, railway
Environmental licenses
Conceptual and basic engineering
Phase I
BEGINNING
Concluded
Phase II
PLANNING
Ongoing
Phase III
EXECUTION
Ongoing
2011 2012 2013
Infrastructure
Civil work
Erection
Commissioning
Start up
Mar-12
Mar-13
4Q13
Aug-13
Sep - 13
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Maranhão Project Construction Status 70% of suppliers already contracted
29 29 29
Earth moving complete
Infrastructure work has started
Stacking in evaporation area (100% complete)
Stacking in boiler area (95% complete)
Construction of Water Treatment Facility and provisional Sewage Treatment
Facility (90% complete)
Construction of temporary sites (40% complete)
Approximately 1,800 people working on the construction of the Maranhão unit
Approximately 1,400 people working on the forestry base formation
The Secretary of the Environment of Maranhão State has issued:
Pre-Operational License
Planting License, which was renewed in October 2011
0% 20% 40% 60% 80% 100%
Industrial
Forest formation(planted area)
Completed Pending
Suppliers contracted
154,000 ha
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Positive Social Impact
Important for the socio-economic development of the region, with job creation, personnel qualification, all in line with environment preservation
30 30 30
Region 85%
Other Areas 15%
Job Creation Job Creation1
Mill Construction:
7 thousand direct (own employees + third-party)
Forest and Industrial Operation:
3,5 thousand direct and 15 thousand indirect2
Nursery: 530 direct
1 Total estimated for mill construction and forest and industrial operations I 2 Source: FGV – 4.3 factor I 3 Forest and Industrial Operation
Qualified Personnel
Civil work: ~ 6 thousand people to be trained
Operation3: ~ 1 thousand people to be trained
Service: ~ 900 people to be trained
Capacitar Program estimated capex: ~ R$ 10 million
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Logistic Solution
Railway transportation from the plant to the port and strategic located to export to the main pulp markets
31 31 31
Port in the São Luís1 region
500 Km through
Carajás railway
100 Km through
Norte-Sul railway
Capacity: 10 production
days
The train will go through the
warehouse, allowing for
loading from both sides
Transit time: around 4 days shorter
to main destinations compared to
ports in the South East of Brazil
Maranhão Unit Model
Warehouse
1 Drawing
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Capex Long term financing, grace period and competitive cost
32
Maranhão Unit
Estimated Forest Capex US$ 575 million
Estimated Industrial Capex1 US$ 2,3 billion
1 Considers exchange rate of R$ 1,80/US$
Maranhão Unit
2011 2012 2013
Estimated Industrial Capex
20% 60% 20%
Funding:
BNDES: R$2.7 billion, 12 years to pay and 3-year grace period
Mandatory convertible debentures: R$1.2 bilion
Funding for the imported equipment supported by foreign credit agencies (ECA’s among others)
Cash flow generation
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33
Agenda
01 | Strategy
02 | Forestry
03 | Paper
04 | Pulp
05 | Maranhão Unit
06 | Biotechnology
07 | Suzano Renewable Energy
08 | Financial Results
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34 34 34
FuturaGene Biotechnology is on the right side of Sustainability
Base Case: Suzano Pulp and Paper
907
tsd ha
Less land utilization
Lower forest formation cost
Innovation
Less land utilization
Less water consumption
Less chemical expenditure
Higher carbon sequestration
2015e Planted Area
Necessidade de terras (ha)
Pro
du
tiv
ida
de
Yield Increase
1% 5% 10% 15% 20% 30% 50%
-9 tsd ha -45 tsd ha -90 tsd ha -136 tsd ha -181 tsd ha -272 tsd ha -454 tsd ha
Lan
d
uti
liza
tio
n
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FuturaGene is present in 60% of the eucalyptus market
Well positioned to be world leader in forest biotechnology
India
3.9 MM ha
Brazil
3.7 MM ha
China
2.6 MM ha
South Africa
0.6 MM ha
Tailand
0.5 MM ha
Global Eucalyptus Forest Map
Source: GIT Forestry Consulting, http://git-forestry-blog.blogspot.com
FuturaGene Biotechnology is on the right side of Sustainability
Upside: new business
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36 36 36
FuturaGene Most modern labs located in strategic regions
China lab launch on December 2nd, 2011
FuturaGene Lab in Itapetininga
FuturaGene lab in Israel FuturaGene Lab
in Itapetininga
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37
Agenda
01 | Strategy
02 | Forestry
03 | Paper
04 | Pulp
05 | Maranhão Unit
06 | Biotechnology
07 | Suzano Renewable Energy
08 | Financial Results
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Project update
Protocol signed with Maranhão government
Ongoing activities:
Forest: Specific clones selected, dedicated plantation (Energy Forests)
Engineering with Promon and Stolberg (Canadian)
Commercial: Advanced negotiation of final contracts with clients
Dedicated team
Suzano Renewable Energy
Forestry competency enables new business opportunities
38 38 38
3 units: 1 MM ton/year each
Estimated start-up: 2014
Funding: definition of the capital structure
World leader
Initial focus on the European market
Wood pellets for energy, produced from renewable energy-oriented forests
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39
Agenda
01 | Strategy
02 | Forestry
03 | Paper
04 | Pulp
05 | Maranhão Unit
06 | Biotechnology
07 | Suzano Renewable Energy
08 | Financial Results
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Results Net Revenue and EBITDA
757 1,277 1,377
1,663 1,619 933
1,539 1,609 2,018 2,006
2007 2008 2009 2010 LTM
799
1,320
1,780 1,607 1,712
1,034
1,469 1,161
1,703 1,265
2007 2008 2009 2010 LTM
1,814 1,850 1,657 1,915 2,138
1,596 2,214 2,295
2,599 2,569 3,410
4,064 3,952 4,514 4,707
2007 2008 2009 2010 LTM
1,924
2,482 2,896 2,763
2,963
1,621 1,587 1,426 1,560 1,751
837 937 918 936 950
2,458 2,524 2,344 2,496 2,701
2007 2008 2009 2010 LTM
1,125 1,162
1,116 1,156
1,251
Net Revenue (R$ million) and Volume (tsd tonnes) EBITDA (R$ million) and EBITDA Margin (%)
Paper: Revenue (R$ million) and Volume (tsd tonnes) Pulp: Revenue (R$ million) and Volume (tsd tonnes)
1.65 1.95 1.84 2.00 1.76 Average
R$/US$
Domestic Market Exports Volume
1.65 1.95 1.84 2.00 1.76 Average
R$/US$
30.3%
36.2%
29.4%
37.7%
26.9%
Note: The amounts of 2009, 2010 and LTM include the adjustments introduced by the IFRS standards
LTM - last 12 months ending on 9/30/2011
Domestic Market Exports Volume Domestic Market Exports Volume
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Produtivity Project Focus on high return projects with mesurable results
A. Increase productivity/ reduce costs
A1. Matrix budget: fixed costs and SG&A
Specific target review in all levels and departments
Define internal and external benchmark parameters
Gradus Consulting
A2. Daily activities management
PDCA¹ / SDCA²
Six Sigma
INDG Consulting
A3. Multiplicar Project
Important restructure in the Company’s processes and systems
B. Suzano 2024 Plan Implementation
Maranhão Unit
Suzano Renewable Energy
FuturaGene
Piauí Unit
2012 Challenges
Plan
Do
Check
Act
PDCA¹ Cycle
¹ Plan, Do, Check, Act I ² Standardization, Do, Check, Act
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Debt Conservative financial policy
42
Gross Debt (R$ million)
Short Term Long Term
1,492 1,864
5,707
310 34 699 8
6,386
Gross Debt(Jun/11)
Funding /Amortizations
Interest ForeignExchangeVariation
Others Gross Debt(Sep/11)
Debt increased, primarily due to the impact of the
exchange rate variation, with NO cash effect
Robust cash position: R$3.0 billion (Sep./11)
No short-term leverage difficulties: liquidity horizon
of approximately 28 months
The Company has been working on initiatives to
reduce leverage
7,199
8,250
Amortization Schedule (R$ million)
3.610
1.113
455 456
2.616
2011- 2013 2014 2015 2016 2017 onwards
Long-term debt profile
Funding: grace period and lengthier amortization, in
line with cash flow from the projects
Hedge for cash flow, but not for debt
No use of complex or exotic derivatives
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Debt
Leverage can imcrease temporaly due to the growth projects capex, but amortizations are in line with cash flows from these projects
1.6x 1.6x
2.7x
3.8x 3.7x 3.7x 3.5x
2.0x
4.2x
Ripasa
Acquisition
Implementation
of
Mucuri Project
Start up of
line 2 at
Mucuri
World
economic
crisis
1,647 1,616
2,475
3,919 4,285
5,459
4,111
3,421
5,291
1,000 1,039 913 1,040 1,146 1,469
1,161 1,703
1,265
2003 2004 2005 2006 2007 2008 2009 2010 sep/11
Net Debt (R$ million) EBITDA (R$ million) Net Debt/EBITDA (x)
*
Conpacel
Acquisition
Note: The amounts of 2009, 2010 and LTM include the adjustments introduced by the IFRS standards
* EBITDA of the last 12 months ending on 9/30/2011
Primary
Offer
Bahia Sul
Incorporation
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44
Investiment Plan
Growth projects will be developed with discipline, respecting Company’s financial solidity
0.5 0.5 0.5
3.0 3.5
1.7
3.5 4.0
2.2
2011e 2012e 2013e
Estimated Capex (R$ billion)
Sustain Growth
Note: figures do not include investments that may be outsourced
Divestment of Capim Branco (81 MW of installed capacity and 51 MW of assured energy)
Divestment of non-strategic lands
Strategic partnership for Suzano Renewable Energy
Em
Es
tud
o Energy pre-sale
Possibility of outsourcing activities
Sale of certain assets in the paper segment
Sale of interest in new projects in the pulp segment
Equity
Un
de
r S
tud
y
On
go
ing
Actions to reduce leverage
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Why to invest in Suzano?
45 45 45 45
High Level of Own
Energy Production
Low production
costs
Extensive
know-how and
high planted
forest
productivity
Balanced mix
of products
Experienced
Management
Team
Strong
operating
cash flow
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SUZANO PAPEL E CELULOSE S.A.