Fibria Posts Fourth Quarter Loss
In 4Q13, Fibria's pulp production was 1.4 million tons.
Jan. 30, 2014 - Brazilian market pulp producer Fibria today reported that in the fourth quarter 2013 the Company posted losses of R$185 million, compared to profit of R$57 million and R$48 million in 3Q13 and 4Q12,
respectively. This variation was chiefly explained by the negative financial result, in turn driven by the impact of dollar’s appreciation against the real on debt and the increased expense with income tax and social contribution with adherence to
In 2013, the pulp market saw new capacity come on-stream, but also saw closures announced throughout the period,
representing approximately 1.1 million tons, helping balance the industry’s supply (net increase of approximately 515 thousand
On the demand side, there was an increase in eucalyptus pulp shipments in the year, especially to China and North
America. Hardwood producers’ inventories began falling in August, closing the year at 39 days, in line with the historical
average. As a result of these events, the average pulp price in dollars increased 5% as compared to 2012.
PULP PRODUCTION/SALES VOLUME
In 4Q13, pulp production was 1.4 million tons, up 1% quarter-on-quarter due to no scheduled maintenance downtimes, partially
offset by the impact of the rains at the Aracruz Unit (ES), which also explains, in large part, the 1% year-on-year decline. Sales
volume totaled 1.4 million tons, equivalent to 106% of the production in the quarter, and up 11% over 3Q13 with seasonality in the
period, driven by Europe.
In 2013, Fibria’s sales totaled 5.2 million t (98% of period production), down 3% as compared to 2012
when we saw record sales volumes and inventories below 50 days. In addition, availability was reduced as a result of lower
production volume. Inventories closed 2013 at 50 days.
Fibria's full fourth quarter 2013 financial and market report is available here:
» Fibria 4Q13 Results (822k, pdf)