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Brazilian pulpmaker Klabin's earnings up 33% in third quarter
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Brazilian pulpmaker Klabin's earnings up 33% in third quarter
Nov 4, 2024 11:36 AM

Nov 4 (Reuters) - Brazilian pulpmaker Klabin

posted adjusted earnings before interest, tax, depreciation and

amortization (EBITDA) of 1.81 billion reais ($308.47 million),

up 33% from a year earlier, it said on Monday in a securities

filing.

WHY IT'S IMPORTANT

Klabin is one of the largest pulpmakers in Brazil. It

owns 23 plants in the country and is the largest producer and

exporter of packaging papers in the country.

BY THE NUMBERS

The company's EBITDA was above the median estimate of

1.77 billion reais projected in an LSEG poll.

Klabin posted a net profit of 729 million reais in the

third quarter.

The company's net revenue grew 14% year-on-year to 5

billion reais in the third quarter.

KEY QUOTES

"The third quarter of 2024 was marked by ongoing

improvement in market conditions in the paper and packaging

segments, observed since the beginning of the year," Klabin said

in a statement.

It added, however, that these positive factors were only

partially reflected in its third quarter results due to

logistics bottlenecks in Southern Brazilian ports.

($1 = 5.8677 reais)

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