- Adjusted EBITDA reaches R$1.884 billion in the fourth quarter of 2021, up 70% from the same period in 2020. In the year, Adjusted EBITDA came to R$6.865 billion, advancing 46% from the prior year
- Net Revenue totaled R$4.581 billion in 4Q21, up 39% year on year, indicating consistent growth across all business lines
- ROIC (Return on Invested Capital) came to 19.5% in the last 12 months, proof of strong value creation for shareholders 

São Paulo, February 9, 2022 – Klabin, Brazil's largest producer and exporter of paper for packaging and paper packaging, the country’s only producer to offer solutions in hardwood, softwood and fluff pulp and the leading producer of corrugated board packaging and industrial bags, registered 46% growth in adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) in 2021 compared to 2020, totaling R$6.865 billion. Adjusted EBITDA in the fourth quarter of 2021 rose 70% in relation to the same period in 2020 to reach R$1.884 billion.  Adjusted EBITDA excludes non-recurring effects. This was the 12th consecutive year of growth in adjusted EBITDA, which proves the efficiency of Klabin’s integrated, diversified and flexible business model. 

In 4Q21, total sales volume, excluding wood but including the production from the first paper machine (MP27) of the Puma II Project, came to 950,000 tons. The result illustrates the strong demand for the Company’s products, especially in the packaging paper market. In 2021, total sales volume was 3.8 million tons, growing 6% from 2020, mainly due to the additional volume from corrugated board packaging plants and MP27.

Net revenue in the fourth quarter of 2021 came to R$4.581 billion, for growth of 39% from the same period in 2020. In 2021, net revenue grew 38% from 2020 to R$16.481 billion.

The Company’s commercial flexibility, diversified portfolio and solid operating performance combined with the strong demand for Klabin products in both the domestic and external markets, once again bolstered the results in the period. Last year, ROIC (Return on Invested Capital) came to 19.5%, underlining the strong value creation for shareholders of the Company.

INVESTMENTS
In 4Q21, Klabin invested R$1.2 billion in its operations and expansion projects, with R$117 million allocated to its forestry operations, R$163 million to working capital of mills, R$119 million to special projects and expansions, and R$759 million to the Puma II Project. In the Puma II Project alone, a total of R$7.895 billion had been invested by the end of 2021, with R$2.579 billion in 2021 alone. Work on installation of the second paper machine of the Puma II Project - MP28 - is underway, whose startup is slated for the second quarter of 2023.  

HORIZONTE PROJECT
Earlier this week Klabin approved the expansion of the Horizonte Plant in Ceará, which produces corrugated board packaging. With an additional corrugated board production capacity of 80,000 tons per year, the project envisages the acquisition of a corrugator and printer, and will mainly supply the growing fruit market in Brazil’s northeastern region. Total investment will be R$ 188 million, with operational startup scheduled for the first quarter of 2023.

SUSTAINABLE DEVELOPMENT
Klabin’s commitment to sustainability and the planet’s prosperity earned it important honors in the fourth quarter of 2021. The company remains listed in B3’s Corporate Sustainability Index (ISE) for the ninth straight year and, for the second straight year, has been included in the Dow Jones Sustainability Index (DJSI), in the 2021/2022 edition, in two categories: World Index and Emerging Markets Index. The Company also achieved the “Triple A” rating from CDP, a global non-profit organization that manages a global environmental disclosure system for companies, cities, states and regions, for its outstanding efforts on climate change, water security and forests. This year, only 14 companies worldwide from the more than 12,000 that participated in the process achieved the rating.

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